Justice Ayokunle Faji of a Federal High Court in Lagos has convicted a former Executive Secretary of the National Health Insurance Scheme (NHIS), Olufemi Martins Thomas and one, Kabiru Sidi, a Bureau De Change operator, of their involvement in a $2.1 million fraud case.

The judge found Thomas guilty of transacting beyond the legal threshold without utilising a financial institution, an offence contrary to money laundering regulations.

He was subsequently sentenced to a fine of N10 million. On his part, the BDC operator was found guilty of making a false statement to an investigating officer of the Economic and Financial Crimes Commission (EFCC) and was fined N100,000.

The Economic and Financial Crimes Commission (EFCC) has slammed an amended seven charge of money laundering, among others, against the duo.

Six of the counts against Thomas related to money laundering and transferring proceeds of unlawful activities in cash, in contravention of the Money Laundering (Prohibition) Act, 2011 as amended, while Sidi faced a single count of making false statement to an EFCC official.