ALSCON Plc arraigned over alleged N582.43m money laundering

The Economic and Financial Crimes Commission (EFCC) has arraigned the Aluminium Smelter Company of Nigeria (ALSCON) Plc and its director, Zavyalov Dmitry, before the Federal High Court in Abuja. The company faces a six-count amended charge involving alleged money laundering offences totaling N582.43 million.

The charges allege that ALSCON, classified as a Designated Non-Financial Business and Profession, failed to report several large transfers to the Special Control Unit Against Money Laundering (SCUML) between March and July 2024. These transactions included multiple payments to Udatson Nigeria, as well as transfers to Urico Global Services and Christopher Azogu. The EFCC claims these actions contravened the Money Laundering (Prevention and Prohibition) Act, 2022.

While ALSCON’s Acting Managing Director, Ime Monday Inyang, pleaded not guilty on behalf of the company, director Zavyalov Dmitry is reported to be at large. The defense has requested that the court quash the charges, maintaining the company's innocence. Justice O. A. Egwuatu has adjourned the case until January 27, 2027, for the commencement of the trial.