A Chinese national, identified as Mr. Zhang Wei, has been remanded in custody by a Lagos Magistrate Court following his arraignment on charges of fraud, bribery, and money laundering amounting to a staggering N301 million. The accused was arrested earlier this week after a detailed investigation by Nigerian authorities into a series of alleged financial crimes linked to his business operations in Lagos.
According to the charge sheet, Mr. Zhang is accused of orchestrating a fraudulent scheme that involved inflating invoices, embezzling company funds, and offering bribes to various public officials to facilitate illegal business transactions. The accused, through his company, is alleged to have misappropriated over N301 million from Nigerian partners and government institutions.
The Nigerian Economic and Financial Crimes Commission (EFCC), which led the investigation, revealed that Mr. Zhang used his business dealings to conceal the illicit funds, laundering them through multiple shell companies and offshore accounts. Additionally, it is alleged that Mr. Zhang paid bribes to key officials to evade regulatory scrutiny and to secure lucrative government contracts through corrupt practices.
The EFCC has expressed its commitment to bringing all those involved in the corruption network to justice, stating that this case is part of ongoing efforts to clamp down on foreign nationals involved in fraudulent activities in Nigeria. EFCC spokesperson, Wilson Uwujaren, emphasized that the agency will continue to work closely with international partners to ensure that foreign nationals who engage in criminal activity within Nigeria are held accountable.
At his court appearance, Mr. Zhang pleaded not guilty to the charges. His defense counsel, however, requested bail, which was denied by the presiding magistrate who noted the severity of the allegations. The case has been adjourned for further hearings, with a directive for Mr. Zhang to remain in custody until the next session.