ICPC prosecutes ministry official, Oseni Adeolu Olayinka, for fraud

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has sued one Oseni Adeolu Olayinka, an official of the Federal Ministry of Water Resources, to court for alleged fraud, money laundering.

The civil servant was accused of secretly including his wife and son on the Integrated Personnel and Payroll Information System (IPPIS) portal of the ministry between 2023 and 2024.

Oseni Adeolu Olayinka was arraigned by the ICPC before Justice Obiora Egwuatu of the Federal High Court in Maitama, Abuja, on Thursday, facing a three-count charge related to money laundering.

In a suit marked FHC/ABJ/CR/584/2024, the commission accused Olayinka of acquiring millions of naira by including his wife and son on the Integrated Personnel and Payroll Information System (IPPIS) portal of the ministry between 2023 and 2024 and corruptly receiving salaries through his wife’s and son’s accounts, thereby committing an offence of money laundering.

One of the counts against him read: “That you, Oseni Adeolu Olayinka (M), Executive Officer, Federal Ministry of Water Resources, Abuja, between January 2023 and April 2024 or thereabout, within the jurisdiction of this Honourable Court, indirectly took possession of the sum of N2,843,524.41K (Two Million, Eight Hundred and Forty-Three Thousand, Five Hundred and Twenty-Four Naira, Forty-One Kobo) through the Stanbic IBTC Bank account number 0040450514 belonging to your wife, Mrs. Mngohol Christiana Agaku, which funds you reasonably ought to have known formed part of the proceeds of an unlawful act, to wit: corruption, and you thereby committed an offence contrary to Section 18 (2) (d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”

Olayinka, however, pleaded not guilty to all the charges read to him.

This prompted his counsel, Paul Asimiakeokha, to move an application for him to be granted bail on very liberal terms, which was not opposed by the prosecution counsel, C.K. Igwedibia.

Ruling on the bail application, Justice Egwuatu committed the defendant to a N5 million bond with a surety who must be a civil servant not below grade level 12 in the federal civil service.

Additionally, the presiding judge said that the surety must provide his/her employment and promotion letters and must have a landed property in Abuja, which must be verified.

The matter has been adjourned to the 29th of April for the commencement of trial.