Sunmonu Olasunkanmi Thaoban received a four-year prison sentence from Justice Akintayo Aluko of the Federal High Court in Ikoyi, Lagos, following his conviction for money laundering. The Economic and Financial Crimes Commission (EFCC) brought two counts against Thaoban, accusing him of acting as a go-between for cybercriminals in 2023. Authorities stated he attempted to conceal ₦16 million of illicit funds by purchasing a black 2018 G-Wagon Jeep, violating the Money Laundering (Prevention and Prohibition) Act of 2022. The judge provided the option of a ₦1.8 million fine and ordered the confiscation of the vehicle and his mobile phone for the federal government.
In separate proceedings, the same court sentenced four Bureau de Change (BDC) operators to one year in prison each. Umar Muhammad Lamido, Yusuf Musa Yusuf, Abdulmuhimin Mahmud, and Muhammed Musa were found guilty of operating illegal foreign exchange services. Justice Aluko allowed each to pay a ₦100,000 fine as an alternative to their jail terms. The EFCC noted that these rulings highlight its ongoing effort to police financial misconduct and uphold economic laws.
