BREAKING: EFCC Rearraigns Chinese Ponzi-Terrorism Syndicate, Audu Friday

The Economic and Financial Crimes Commission (EFCC) has re-arraigned Audu Friday, an alleged key figure in a Chinese-linked Ponzi and terrorism financing syndicate, alongside a company, Genting International Ltd., on charges bordering on forgery.

The defendants were brought before Justice Rahman Oshodi of the Special Offences Court, Ikeja, on Monday, on an amended eight-count charge marked ID/25617C/25, dated May 17, 2025.

At the resumption of the trial, EFCC lead prosecutor, Rotimi Oyedepo, SAN, alongside Bilkisu Buhari-Bala, informed the court of the amended charges and requested that the plea of the defendants be taken accordingly.

According to the prosecution, the defendants allegedly forged a document titled Ultimate Beneficial Ownership Declaration Form, purportedly signed by one Baffale Yakubu, sometime in 2024 in Lagos.

Oyedepo told the court that Audu Friday and Genting International Ltd. knowingly falsified documents and misrepresented themselves as other individuals to facilitate fraudulent activities.

While Audu pleaded not guilty to all charges, the court entered a not guilty plea on behalf of the second defendant, Genting International Ltd.

A prosecution witness, Nasiru Barau, when led in evidence, said he dropped out of junior secondary school and denied being a director or shareholder in Genting International Ltd.

“I have never heard of Genting International before the EFCC invited me,” Barau told the court. “I am not a director. It is only my brother, Baffale Yakubu, who is a director.”

When shown a document that listed him as a shareholder with 12 million shares and an associated email address, nasirubarau@gmail.com, he denied any knowledge of it: “This is the first time I am seeing it. That is not my email. I don’t understand anything about shares.”

During cross-examination by the defence, Barau admitted making a statement at the EFCC. He confirmed that two individuals—his lawyer, Mr. Nojim Adeoye, and one Rabiu Ismail—wrote the statement on his behalf, which he subsequently signed.

“Yes, that is my signature,” he said when shown the signed document.

Barau had earlier claimed he completed his secondary education but later retracted during re-examination, admitting he did not finish. He also confirmed he once served as an assistant at a bureau de change company owned by his brother.

After hearing the testimony, Justice Oshodi adjourned the matter till today, Tuesday, for a ruling on Audu Friday’s bail application and for the continuation of trial.