The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arraigned Obasi Nicholas Sunday, a staff member of the Ebonyi State Accountant-General’s Office, for his alleged involvement in a money laundering scheme totaling ₦61 million.
Appearing before Justice H. I. O. Oshomah at the Federal High Court in Abakaliki on Thursday, February 19, 2026, the defendant faced a two-count charge related to "structured transactions." The ICPC alleges that Obasi used his position as a signatory to the Ebonyi State Government Shopping Mall Account to bypass statutory financial reporting requirements.
According to the prosecution, the defendant withdrew ₦61 million from the government account in August 2020 through multiple smaller tranches—specifically six withdrawals of ₦10 million and one of ₦1 million—to avoid triggering mandatory bank alerts to regulatory authorities. The Commission further alleged that Obasi deposited ₦60.9 million into the private account of a state contractor, Ikechukwu Obiukwu, using similar installment patterns.
"The actions violate Section 19(1)(c) and are punishable under Section 19(2)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022," the Commission stated in a formal release. The prosecution, led by Mr. Agbili Ezenwa Kingsley, maintains that these manoeuvres were deliberate attempts to evade the oversight of the Nigerian Financial Intelligence Unit (NFIU).
Obasi pleaded not guilty to all charges. His defence counsel, Mr. Michael Ngwu, successfully moved for a bail application, which was not opposed by the ICPC. Justice Oshomah granted bail in the sum of ₦10 million, requiring the Accountant-General of Ebonyi State to serve as the surety.
The court has ordered the defendant and his surety to sign an undertaking ensuring his continued appearance for trial.
The matter has been adjourned to March 24 and 25, 2026, for the formal commencement of the hearing.