Amadu Sule ₦311bn Money Laundering Charges

Amadu Sule, Managing Director of TMDK Terminal Limited and an associate of former Nigeria — Kaduna State Governor Nasir El-Rufai, has been arraigned by the Nigeria — Independent Corrupt Practices Commission before the Federal High Court in Nigeria — Kaduna State. He faces five counts of money laundering and unlawful retention of fraud proceeds, totaling over ₦311 billion. The Nigeria — Independent Corrupt Practices Commission alleges that Amadu Sule controlled these funds, traced to accounts at Fidelity Bank, Stanbic IBTC Holdings, and Providus Bank, which were purportedly received from INT Towers Limited, IHS Nigeria Limited, IHS Towers, and Boaz Commodities Limited for petroleum product supplies. The anti-graft agency contends that Amadu Sule ought to have known these funds were proceeds of unlawful activities and that he and TMDK Terminal Limited unlawfully retained tax components from these fraudulent transactions. The case has drawn significant public and political attention due to TMDK Terminal Limited's alleged business and political ties with the el-Rufai family, including Nasir El-Rufai and Nasir El-Rufai. The matter has been adjourned to January 15 for a bail application hearing.