Anti-graft agency files 12-count charge alleging terrorism financing, unlawful cash transactions, and possession of suspected proceeds of crime
By John Ishaku – June 25, 2026
ABUJA, Nigeria — The Economic and Financial Crimes Commission (EFCC) is set to arraign the President of Miyetti Allah Kautal Hore, Bello Abdullahi Bodejo, before the Federal High Court in Abuja over allegations of money laundering and terrorism financing involving approximately $2.53 million.
The planned arraignment marks a significant development in one of the latest high-profile financial crime cases being pursued by Nigeria’s anti-corruption agency and is expected to attract nationwide attention due to Bodejo’s prominence as a leader of one of the country’s most influential socio-cultural organizations.
According to court documents filed by the EFCC on June 22, 2026, the commission accused Bodejo of engaging in multiple cash transactions involving large sums of foreign currency allegedly linked to unlawful activities, contrary to provisions of Nigeria’s anti-money laundering laws.
The anti-graft agency has filed a 12-count charge against him under the Money Laundering (Prohibition) Act, 2011, as amended, and the Money Laundering (Prevention and Prohibition) Act, 2022.
Alleged Cash Transactions Total More Than $2.5 Million
At the heart of the prosecution’s case are allegations that Bodejo received substantial cash payments from a former Accountant-General of Bauchi State, Sa’idu Abubakar, without routing the transactions through recognized financial institutions as required by law.
Investigators allege that the transactions occurred over multiple dates between 2022 and 2024 and collectively amounted to approximately $2.53 million.
According to the charges, one of the transactions allegedly involved the receipt of $100,000 in physical cash in Abuja on January 11, 2022.
Prosecutors contend that the transaction exceeded statutory cash limits and violated financial reporting regulations established to prevent money laundering and illicit financial flows.
A separate count alleges that Bodejo received another $200,000 in physical cash from the same source on January 21, 2022.
EFCC Details Additional Transactions
Court filings indicate that investigators are relying on several transactions as part of their case.
Among the allegations is the claim that Bodejo accepted $980,000 in cash on February 7, 2024, one of the largest transactions listed in the charge sheet.
The EFCC also alleges that he subsequently received an additional $500,000 in physical cash on March 20, 2024.
According to prosecutors, these transactions were conducted outside the formal banking system and allegedly breached provisions requiring large financial transactions to pass through regulated financial institutions.
The commission argues that bypassing financial institutions undermines anti-money laundering safeguards and complicates efforts to monitor suspicious financial activities.
Alleged Possession of Proceeds of Unlawful Activities
Beyond allegations relating to cash transactions, the EFCC is also accusing Bodejo of knowingly possessing funds suspected to be proceeds of unlawful activity.
One of the charges alleges that he took possession of $980,000 under circumstances in which he knew, or reasonably ought to have known, that the funds were linked to unlawful conduct.
Prosecutors contend that the alleged possession of such funds constitutes an offence under Nigeria’s anti-money laundering framework.
The commission maintains that the charges are supported by evidence gathered during its investigations and intends to present its case before the court once proceedings commence.
Terrorism Financing Allegations Add New Dimension
The inclusion of allegations relating to terrorism financing has elevated public interest in the case, particularly given Nigeria’s ongoing battle against terrorism, banditry, kidnapping and other forms of violent extremism.
While details of the alleged terrorism financing component have not yet been fully disclosed publicly, legal experts say the prosecution may seek to establish links between the transactions and activities prohibited under Nigeria’s anti-terrorism and financial crime laws.
Observers note that terrorism financing allegations often attract heightened scrutiny because of their national security implications and the severe penalties attached to conviction.
Legal Battle Expected as Court Date Nears
Bodejo is expected to be formally arraigned before the Federal High Court in Abuja once a hearing date is fixed.
At arraignment, he will have the opportunity to enter a plea to the charges.
Under Nigerian law, criminal allegations remain unproven until tested before a competent court of law, and every defendant is presumed innocent until proven guilty.
Legal analysts expect the proceedings to generate significant public interest due to the profile of the accused and the scale of the alleged transactions.
The case is also likely to test the strength of Nigeria’s anti-money laundering enforcement mechanisms amid increasing international pressure on countries to strengthen financial crime controls.
Wider Implications for Financial Crime Enforcement
The prosecution comes at a time when Nigerian authorities are intensifying efforts to combat money laundering, terrorism financing, illicit financial flows and corruption-related offences.
Recent reforms have strengthened reporting requirements for financial institutions and increased scrutiny of large cash transactions.
Experts say the outcome of the case could have implications for how anti-money laundering regulations are enforced against politically exposed persons, public officials, and leaders of influential organizations.
It may also influence future compliance practices regarding foreign currency transactions and financial reporting obligations.
The EFCC’s decision to arraign Miyetti Allah Kautal Hore President Bello Bodejo over alleged money laundering and terrorism financing offences involving approximately $2.53 million marks another major test of Nigeria’s anti-corruption and financial crime enforcement framework.
As the case moves before the Federal High Court, attention will focus on the evidence presented by prosecutors, the defence mounted by the accused, and the broader implications for accountability, financial transparency and the rule of law.
For now, the allegations remain before the court, where the legal process will determine the merits of the charges and the ultimate outcome of the case.
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