Shamsudeen was first arraigned in November 2016 on a 15-count charge bordering on conspiracy and intentional failure to declare his assets by the Economic and Financial Crimes Commission.
He was arraigned alongside Bird Trust Agro Allied Limited, Intertrans Global Logistics Limited, Diakin Telecommunications Limited, and Bal-Vac Mining Nigeria Limited.
The charge was later amended to 20 counts.
On December 14, 2021, the court partially sustained a no-case submission filed by the defendants and they were acquitted on counts 1-10 and 20.
In his ruling, the presiding judge, Nnamdi Dimgba held that the prosecution failed to prove its case against the defendant and consequently, discharge and acquit him of all counts as listed in the charge.
The judge also ordered the EFCC to return to the defendant, sixty thousand dollars and five hundred and eighty thousand naira seized from his apartment.
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