By By Habeeb Ibrahim
The Federal Government has arraigned the Chairman and the Chief Executive Officer (CEO) of TSTV, Bright Echefu, and the company’s Executive Director, Felix Igboanuga, before the Federal High Court in Abuja for alleged tax evasion, money laundering, and advanced fee fraud.
The defendants were arraigned alongside TSTV and Briechberg Investment Ltd as 2nd to 4th defendants respectively, and pleaded not guilty to all counts.
According to the charges, the defendants committed the money laundering offence, including tax evasion, unremitted Value Added Tax (VAT), and Company Income Tax and Pay As You Earn (PAYE) deducted from the salaries of 165 staff, contrary to the Money Laundering (Prohibition) Act, 2011 (as amended in 2012).
In counts five and six, Echefu was alleged to have obtained the sum of N150 million and N380 million from Mr. Turaki Kabiru Tanimu, SAN, under false pretenses, and misappropriated the funds for personal use.
The defendants pleaded not guilty to all counts, and their counsel, Eyitayo Fatogun, SAN, applied for bail on their behalf. However, the prosecution counsel, Tahir Sylvanus, SAN, opposed the bail application, citing the defendants’ history of failing to appear in court despite being granted administrative bail.
Justice Inyang Ekwo admitted the defendants to bail on the terms of the administrative bail earlier granted by the Economic and Financial Crimes Commission (EFCC), and ordered them to deposit their international passports with the court registrar. The judge warned that the defendants’ bail would be revoked if they failed to appear in court for their trial.
The matter was adjourned until June 15, 16, and 17 for trial commencement, with the judge warning that the defendants would be remanded in custody for the duration of their trial if their bail was revoked.
Recalled that in 2017, the Federal Government granted TStv Africa, a newly launched Pay TV operator, a 3-year tax relief and tax-free dividends to all investors.
This announcement was made by the Minister of Information and Culture, Alhaji Lai Mohammed, at a dinner in Abuja to mark the official unveiling of the company.
