The Economic and Financial Crimes (EFCC) on Monday dragged a Nigerian, two Chinese nationals, and their company before the Federal High Court in Lagos over alleged multibillion-naira cybercrime.

The defendants Huang Haoyu, Friday Audu, An Hongxu and a company, Gentting International Ltd., are standing trial before Justice Daniel Osiagor on a 12-count charge of cybercrime.

They all pleaded not guilty to the charges.

The prosecutor, Bilikisu Buhari, told the court that the defendants committed the offences sometime in 2024 in Lagos.

Ms Buhari said the defendants allegedly conspired among themselves to commit the offences with one Dualiang Pan, who is now at large.

She said the defendants allegedly willfully caused to be assessed computer systems organised to destabilise Nigeria’s economic structure.

Ms Buhari also said the defendants allegedly procured Nigerian youths to falsely represent themselves as persons of foreign nationalities.

They were alleged to have procured one Chukwuemeka Okeke to retain $1.2 million in his crypto wallet, which they ought to know forms part of fraudulent activities.

They were alleged to have also procured one Alhassan Garba and Ifesinaci Jacobs to retain $1.3 million in their crypto wallet, being proceeds of crime.

They were also alleged to have retained in the Union Bank account of Gentting International Ltd the sum of N3.4 billion, which also forms part of the proceeds of their fraudulent activities.

The prosecutor alleged that they transferred, among others, N106 million and N913 million to Mr Dualiang’s UBA account, which also forms the proceeds of their fraudulent activities.

The transfer and several other transfers were said to be made from Gentting Ltd.

Besides, the defendants were said to have illegally negotiated a foreign exchange transaction with one Alhassan Garba to the dollar equivalent of N1.1 billion, N962 million, and other sums.

EFCC alleged that they engaged in this foreign exchange without going through the official foreign exchange market authorised by the Central Bank of Nigeria.

All monies are said to have formed part of the proceeds of their fraudulent activities.

She said the offences contravened section 29(2) of the Foreign Exchange Monitoring and Miscellaneous Provisions Act, 2004.

It also contravenes sections 18 and 27 of the Cybercrime (Prohibition) Act 2015, as well as sections 18(2)(d) and 21(c) of the Money Laundering Act 2021.

The court adjourned the case until March 20 to hear the defendants’ bail application.

The judge ordered the defendants to be remanded in EFCC’s custody pending bail.

(NAN)