The Federal High Court in Abuja on Monday convicted and ordered the immediate winding up of a company, Iyalikam Nigeria Limited belonging to a former Chief of Defence Staff, the late Chief Air Marshal
l Alex Badeh.
This followed the Monday’s turn around by the company to plead guilty to the 10 counts of money laundering charges which it and Badeh had earlier denied. Assets linked to Badeh and Iyalikam which Justice Abang ordered their final forfeiture to the Federal Government were listed in the plea bargain agreement which the EFCC reached with the defence and filed before the court on Monday.*A shopping mall at Plot 1386, Oda Crescent Cadastral Zone A07, Wuse II, Abuja* A duplex situate at No. 14, Adzope Crescent, Off Kumasi Crescent, Wuse II, Abuja*The sum of $1,000,000.00 only recovered from No.
EFCC was, until Badeh’s death, prosecuting him alongside Iyalikam Nigeria Limited on 14 counts of money laundering bordering on alleged fraudulent removal of about N3.97bn from the Nigerian Air Force’s account.
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