Court Acquits Businesswoman Isabella Oshodin, Firm of N22.9bn Money Laundering Charges

Wale Igbintade 

Justice James Kolawole Omotosho of the Federal High Court, Abuja, has discharged and acquitted Mrs. Isabella Mimie Oshodin and Bob Oshodin Organisation Ltd of all money laundering charges, holding the prosecution failed to prove its case beyond reasonable doubt.

Delivering the judgment, the court held that the prosecution did not establish the essential elements of the offences against the defendants.

The Economic and Financial Crimes Commission (EFCC), had arraigned the defendants on a 25-count charge bordering on conspiracy to commit money laundering, involving an alleged N22.9 billion fraud. 

The charges include the transfer of large sums of money purportedly derived from unlawful activities, as well as possession of funds linked to criminal breach of trust.

The prosecution also alleged that some of the funds were used to purchase properties in the United States.

In his judgment, Justice Omotosho noted the prosecution failed to provide sufficient evidence proving the defendants’ knowledge or intent regarding any unlawful activities.

Key statements from Mrs. Oshodin were ruled inadmissible because they were neither electronically recorded nor taken in the presence of her legal counsel, in violation of the Administration of Criminal Justice Act, 2015. 

The court further observed the prosecution did not produce concrete documents showing that funds were transferred to foreign accounts or used to acquire the cited properties.

The absence of Col. Dasuki’s testimony also weakened the prosecution’s case.

During the trial, Mrs. Oshodin testified that her husband, Robert Oshodin, was seriously ill and living in the United States. 

She explained that she became involved only after being contacted by a consultant. 

She maintained that the payments received were for legitimate business activities, including the sale of the family’s furniture manufacturing company and youth training programmes in the Niger Delta and South-South regions. 

She further noted that she had refunded N180 million to the government following inquiries from the Economic and Financial Crimes Commission (EFCC) and emphasised that the company’s dealings were with the Presidential Amnesty Office, not directly with the National Security Adviser.

The defence, led by Adegboyega Awomolo, SAN, had argued the prosecution failed to establish the source of the funds as illicit and that the statements relied upon were inadmissible. 

Counsel also highlighted the absence of critical witnesses from the Amnesty Programme whose testimony could have clarified the legality of the transactions.

The prosecution, represented by H.M. Mohammed Esq., maintained that evidence from several witnesses indicated that the defendants were associates of Col. Dasuki and received significant sums into their accounts following his appointment as NSA. 

They argued the funds were laundered into foreign accounts and used to acquire properties in the United States.

However, Justice Omotosho emphasised that criminal cases require proof beyond a reasonable doubt and that every element of the offence must be established.

Citing authorities such as Olayiwola v. State (2021), Momodu v. State (2023), and Adekoya v. State (2017), he reiterated that defendants are presumed innocent, and the prosecution bears the burden of proving all essential elements of the offence.

The court held “The prosecution has an onerous task to prove the charge against the defendant beyond reasonable doubt. Where it fails to do so, all doubts are resolved in favour of the defendant. 

The evidence, whether oral or documentary, must establish the ingredients of the offence charged in such a way as to leave no reasonable doubt that the accused committed the offence. 

Any doubt regarding any element of the alleged offence must be resolved in favour of the defendant, except where it relates to trivial conjectures which do not affect the substance of the case.”

The court further held that the central issue, whether the funds were derived from an illicit source was not proven. 

The defendants, according to the court, provided credible evidence showing that the monies were lawfully obtained from the Office of the National Security Adviser for the sale of Bob Oshodin Organization Ltd’s factory.

“In final analysis, the prosecution’s evidence is speculative and fails to establish the offences beyond reasonable doubt. In contrast, the evidence of DW1 was clear, cogent, and corroborated even by aspects of the prosecution’s case.

“Consequently, the prosecution has failed to prove the offences beyond reasonable doubt. All defendants are hereby discharged and acquitted of all counts,” Justice Omotosho ruled.