The Economic and Financial Crimes Commission (EFCC) on Monday, October 12, 2026, arraigned Aluminium Smelter Company of Nigeria (ALSCON) Plc and its director, Zavyalov Dmitry, before Justice O. A. Egwuatu of the Federal High Court, Abuja, over alleged money laundering offences involving N582,430,250.00 (Five Hundred and Eighty-Two Million, Four Hundred and Thirty Thousand, Two Hundred and Fifty Naira).
The company and its director were arraigned on a six-count amended charge marked FHC/ABJ/CR/644/2025. Dmitry is said to be at large.
According to the charge, ALSCON, a Designated Non-Financial Business and Profession (DNFBP), and its director allegedly failed to report in writing to the Special Control Unit Against Money Laundering (SCUML) certain single transfers made from the company’s account between March and July 2024, as required under Section 11(1)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The transfers allegedly included N147,515,050.00 in March 2024, N156,026,860.00 in April 2024, N121,425,200.00 in May 2024 and N127,338,190.00 in July 2024, all paid to UDATSON Nigeria. Other transactions listed in the charge were N15,124,950.00 paid to Urico Global Services in April 2024 and N15,000,000.00 paid to Christopher Azogu in June 2024.
Count one of the charge alleged that ALSCON and Dmitry failed to report a transfer of N147,515,050.00 paid to UDATSON Nigeria in March 2024 from account number 1013726291 operated by the company. The prosecution said the alleged failure contravened Section 11(1)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022, and was punishable under Sections 11(3), 19(2)(b) and 22 of the same Act.
Count two alleged that the defendants failed to report a transfer of N156,026,860.00 paid to UDATSON Nigeria in April 2024 from the same company account. The charge stated that the alleged offence also violated the reporting requirements under Section 11(1)(b) of the Act and was punishable under Sections 11(3), 19(2)(b) and 22.
Count four of the charge sheet concerned an alleged failure to report a transfer of N121,425,200.00 paid to UDATSON Nigeria in May 2024. The prosecution maintained that the transaction should have been reported to SCUML in accordance with the relevant provisions of the 2022 Money Laundering Act.
EFCC lead counsel, Ekele Iheanacho, SAN, told the court that the alleged offences were punishable under Sections 11(3), 19(2)(b) and 22 of the Money Laundering (Prevention and Prohibition) Act.
When the charges were read, ALSCON’s Acting Managing Director, Ime Monday Inyang, pleaded not guilty to all six counts on behalf of the company.
The company’s counsel also urged the court to quash the charges, maintaining that ALSCON was innocent of the allegations.
Following the proceedings, Justice Egwuatu adjourned the case until January 27, 2027, for the commencement of trial.
The allegations have yet to be determined by the court, and the arraignment does not amount to a finding of guilt.