Top Mtn Partner, Kingsley Adonu, faces the arrangement by presumed …

Kingsley Ifeanyi Adonu, an important telecommunications entrepreneur and a leader of Mtn Nigeria from the state of Enugu, is destined to be staged at the Federal High Court of Lagos for alleged ₦ 10 billion fraud and money recycling systems.

Adonu, founder and CEO of Smobile Group, an important conglomerate that operates in the telecommunications, technology and digital services sectors, is facing a charge of five counts to the limit of taking possession of criminal proceeds through multiple Nigerian banks.

The accusations were presented by the Commission for economic and financial crimes (EFCC) pursuant to the cause no. FHC/L/280C/2025, in the case entitled Federal Republic of Nigeria against Adonu Kingsley Ifeanyi.

The question is listened to before the Judge JC Aneke of the Federal Court, Lagos Division.

According to the debit sheet seen by the Saharareporter, Adonu is accused of having consciously taken possession of funds for a total of over 10 billion, which is believed to be income of illegal activities, in particular, stealing.

The funds presumably moved through the accounts of the Fidelity Bank Plc (₦ 1.73 billion), the Trust Bank Plc (₦ 6.79 billion), the First City Monument Bank Plc (₦ 959 million) and Zenith Bank Plc (₦ 530 million).

Details of the accusations

According to counting 1, between June 4th and July 23, 2021, Adonu took 1.07 billion through a Fidelity bank account with the name S.Mobile Netzone Limited. The authorities say that money was part of the proceeds of a crime (stealing).

Counting 2 claims that between June 2 and July 14, 2021, Adonu took another ₦ 656.4 million through the same bank account Fidelity, suspected of being income of illegal activity.

Counting 3 accuses Adonu of receiving ₦ 6.79 billion through a trustee warranty bank account also in the context of S.Mobile Netzone Limited, considered connected to the criminal activity. The money was received between January 15, 2021 and April 14, 2022.

Conte 4 argues that between 23 March and 26 July 2022, he moved ₦ 959 million through a bank account monument of the first city on behalf of the same company, again suspected of being illegal funds.

Count 5 Cites ₦ 530 million channeled through a Zenith bank account belonging to Setbiz DataLink Concept Limited in March 2022.

According to the count, between March 15 and March 31, 2022, he took possession of ₦ 530 million through the bank account with the name of the company, Setbiz DataLink Concept Limited, with the funds that were believed to be stolen.

Section 15 (2) (D) of the law on money laundering (prohibition), 2011 (as amended) and are punishable pursuant to section 15 (3) of the same law, is said to violin.

● Judicial proceedings

The arrangement, initially scheduled for Wednesday 18 June, was postponed after Adonu appeared without legal representation. The defendant informed the Court that his lawyer, the lawyer Ike, was not available due to an official commitment to Abuja.

The consultant prosecutor Sleiman appeared on behalf of the federal government. In consideration of the circumstances, judge Aneke postponed the case to Thursday 19 June 2025, for the formal arranger of the defendant. Adonu was returned to custody pending the date of the next court.

If condemned, Adonu faces a significant prison time and a decline of the activities pursuant to Nigeria anti -money laundering law.

In May 2024, judge Kehinde Ogunderendere of the Federal High Court of Ikoyi, Lagos, ordered the final decline of a land of land that measured 2,348,072 square meters in the state of enugu in the federal government.

The property was recovered by Babaunde said that Adeola and Adonu, both associated with multiple telecommunications companies.

Adeola and Adonu, identified as owners of S. Mobile Netzone Limited, Biss Nigly Nigeria Limited and Networks Pristine Niges Nigeria Limited, had presented themselves as telecommunications experts involved in joint ventures with important companies, including MTN Nigeria.

However, the EFCC has launched an investigation following a petition that supports a conspiracy to fray investors of ₦ 510 million. The signatories claimed to have invested the funds in the telecommunication activities of the defendants.

According to EFCC, the investigations revealed that instead of honoring their financial obligations for investors, the duo has diverted the funds for personal use and used part of the proceeds to acquire properties, including the land in question. Route guides for Nigeria

The disputed property, detailed in the investigation plan n. CSS/EM164/2005 is located along Enugu-Ezike/Obolo-Afor Road in Ogruto, Enugu Ezike, Igboeze area of ​​the local government of the state of Enugu.

In July 2023, the Court granted the Fuccc application for a provisional decline of the property and ordered a public notice to allow the interested parties to contest the action. The notice was published in the Punch newspaper on November 8, 2023.

Without any opposition filed, the EFCC proceeded to request a final decline. On Monday 13 May 2024, the judge Ogundere granted the Commission request, ordering the property permanently confiscated from the Federal Government.

The application was supported by a security declaration of 16 paragraphs made by Adekunbi Mojisola, an EFCC investigator. [SaharaReporters]

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