Abuja, Oct. 23, 2024 – Official Gredo Limited, a cryptocurrency trading company in Nigeria, has been convicted for illegally trading in Nigerian currency.
The Federal High Court in Abuja presided over by Justice Inyang Ekwo, gave the judgement on Wednesday after Nnamdi Okereke, the Director of the company, pleaded guilty to the charge.
The company was found guilty of violating the Money Laundering Act by illegally transferring N76,462,500 to dollar in a transaction not reported to the EFCC.
Okereke admitted to committing the offence and returned N140 million to the EFCC.
The court ordered forfeiture of the amount to the EFCC recovery account and imposed additional fine of N1 million on the company.   (GBN)
