Four companies on Thursday were convicted by a Federal High Court in Lagos for laundering $15.5m kept in their accounts.

The companies’ accounts were frozen by the Economic and Financial Crimes Commission, including $15.5m siezed during the probe of Waripomowei Dudafa, a former special assistant on domestic matters to ex-President Good luck Jonathan.

However, former first lady, Patience Jonathan had claimed that she owns the frozen cash and had sued the EFCC.

In September, the four companies had pleaded guilty to money laundering charges.

Justice Babs Kuewumi on Thursday convicted the companies for laundering $15.5m.

EFCC prosecutor, Rotimi Oyedepo said the companies laundered the said amount.

On Thursday, Justice Babs Kuewumi convicted the four companies of laundering the $15.5m.

The prosecutor said Iyoha paid different amounts to the companies’ accounts at various times.

While convicting the companies of money laundering, the judge said he was satisfied that the EFCC had proven its case beyond reasonable doubt.

“I am satisfied that the prosecution has proved its case. I’ll exercise my discretion to suspend sentence until conclusion of trial,” the judge held.

Oyedepo also prayed the judge to order the forfeiture of the money to the Federal Government but Justice Kuewumi declined application.

Kuewumi adjourned the case till December 14.

Oludolapo Adelana

Dolapo is a writer and journalist who works with YNaija. He has interests in Christianity, politics and sports.