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Justice Inyang Edem Ekwo of the Federal High Court, Abuja, has scheduled November 26 for the trial of Dr. Bright Ikechukwu Echefu and Dr. Felix Nnamdi Ignoanuga, executives of Telecom Satellites Television (TSTV), on charges of fraud brought by the Federal Government.
The defendants, Echefu, the managing director and CEO, and Ignoanuga, the executive director, were arraigned by the Economic and Financial Crimes Commission (EFCC) on June 6, 2024. They face nine counts including advanced fee fraud, tax evasion, and money laundering. The suit, marked FHC/ABJ/CR/254/23, also includes Telecom Satellites Limited and Briechberg Investment Limited as co-defendants.
The trial was initially set to begin on July 15, 2024, but was postponed due to Justice Ekwo’s official duties outside Abuja. The court registrar notified all parties of the rescheduled date upon the judge’s return.
In the upcoming trial, the EFCC will present allegations that on May 18, 2020, the defendants engaged in money laundering related to tax evasion and unremitted VAT, Company Income Tax, and Pay As You Earn (PAYE) deductions. The EFCC claims that the defendants misappropriated N33.9 million, N13.5 million, and N19.4 million in tax funds intended for the federal government.
Additionally, Echefu is accused of defrauding Senior Advocate of Nigeria, Turaki Kabir Tanimu, of N960 million under false pretenses. The EFCC alleges that Echefu, while managing Briechberg Investment Limited, received a total of N930 million in loans from Tanimu for telecom equipment, which was allegedly diverted for personal use.
During their arraignment, both defendants pleaded not guilty. While the EFCC requested their detention, the court granted them administrative bail, subject to conditions including the surrender of their international passports. They are prohibited from leaving the country without court permission.
