EFCC Arraigns ALSCON, Director Over Alleged N582.4m Money Laundering
The Economic and Financial Crimes Commission (EFCC) has arraigned Aluminium Smelter Company of Nigeria (ALSCON) Plc and its director, Zavyalov Dmitry, over alleged money laundering offences involving N582.43 million.
The defendants were arraigned on Monday, October 12, 2026, before Justice O. A. Egwuatu of the Federal High Court in Abuja on a six-count amended charge marked FHC/ABJ/CR/644/2025.
According to the EFCC, Dmitry is currently at large, while the company’s Acting Managing Director, Ime Monday Inyang, entered a not-guilty plea on behalf of the company.
The anti-graft agency alleged that ALSCON, classified as a Designated Non-Financial Business and Profession (DNFBP), and its director failed to report certain transactions to the Special Control Unit Against Money Laundering (SCUML), as required by law.
The alleged offences relate to transactions carried out between March and July 2024, contrary to Section 11(1)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The transactions listed in the charge include N147,515,050 paid to UDATSON Nigeria in March 2024 and N156,026,860 transferred to the same company in April 2024.
Other transactions allegedly involved N121,425,200 paid to UDATSON Nigeria in May 2024 and N127,338,190 in July 2024.
The EFCC also listed N15,124,950 allegedly paid to Urico Global Services in April 2024 and N15 million paid to Christopher Azogu in June 2024.
The commission accused the defendants of failing to submit written reports on the transactions to SCUML as stipulated by law.
Count one of the charge specifically alleged that ALSCON and Dmitry failed to report a single transfer of N147,515,050 paid to UDATSON Nigeria from an account operated by the company in March 2024.
The EFCC’s lead counsel, Ekele Iheanacho, SAN, informed 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, Inyang pleaded not guilty to all six counts on behalf of the company.
Counsel to ALSCON had also urged the court to quash the charges, maintaining that the company was innocent of the allegations.
Following the company’s plea, Justice Egwuatu adjourned the case until January 27, 2027, for the commencement of trial.
