Money Laundering: Court Jails Man Five Years, Orders Forfeiture of Ill-Gotten Properties
The long arm of the law caught up with Emmanuel Elegbenosa Aitanu on Friday as Justice Dehinde Dipeolu of the Federal High Court in Lagos sentenced him to five years imprisonment for money laundering. His conviction marks another milestone in Nigeria’s fight against cybercrime and the laundering of illicit wealth.
According to court documents, Aitanu’s wealth was not built from honest labour. Investigations by the Economic and Financial Crimes Commission (EFCC) revealed that he had channelled proceeds from cybercrime into foreign currencies, cryptocurrency wallets, and high-value real estate. These were the tools and trappings of a sophisticated laundering scheme that allowed him to enjoy a life far removed from the daily struggles of hardworking Nigerians.
The EFCC’s six-count charge detailed how his transactions were designed to disguise the origin of the funds. Prosecutors explained that cybercrime victims—many of them abroad—were defrauded through elaborate schemes, with the proceeds moved through multiple layers of digital and property investments to evade detection.
Justice Dipeolu, after reviewing the evidence, found Aitanu guilty on all counts. In addition to the five-year jail term, the court ordered the forfeiture of his properties, sending a clear signal that the gains of crime would not be allowed to stand.
“This judgement is a victory for justice and a warning to others who believe they can hide behind technology or foreign investments to launder criminal proceeds,” an EFCC spokesperson told Egalitarian Voice.
Observers say cases like this are a reminder of the human cost of financial crimes. While the convicted man enjoyed ill-gotten luxury, innocent victims—many of them ordinary citizens abroad—were left counting their losses.
As the courtroom emptied, the message was clear: in a country working hard to restore integrity and fairness, there is no safe haven for wealth built on deceit.
