The {Economic} and {Financial} Crimes Fee (EFCC) has re-arraigned Brilliant Echefu, Managing Director and Chief Govt Officer (MD/CEO) of Telecom Satellites Restricted (TStv), and three others on an amended twelve-count cash laundering cost totaling about N1 billion and $1.3 million, alleged funding fraud, together with N66 million tax default allegations.
They had been re-arraigned earlier than the Federal Excessive Court docket in Abuja, although Echefu, by means of his authorized crew, is searching for an out-of-court settlement with the prosecution, Nairametrics can report.
Nairametrics’ unique assessment of the amended cost sheet confirmed that the defendants particularly Echefu, Govt Director of TStv Felix Igboanuga, TStv, and Briechberg Funding Ltd (1st to 4th defendants)—are accused of defrauding Mr. Tanimu Turaki, MD of Kalsiyam World and former Minister of Particular Duties and Inter-Governmental Affairs, BYI Normal Restricted, of their mortgage investments value N1 billion and $1.3 million.
Nairametrics beforehand reported that the defendants had been arraigned by the EFCC in June 2024 on nine-count cash laundering fees.
Rely six of the fees alleged that Echefu defrauded Mr. Turaki of the sum of N380 million.
The defendants had been alleged to have, on or about Might 18, 2020, dedicated cash laundering offences, together with tax evasion, unremitted Worth Added Tax (VAT), Firm Earnings Tax, and Pay As You Earn (PAYE) deducted from the salaries of 165 employees.
Nevertheless, they pleaded not responsible to all of the counts.
Within the EFCC amended cost sheet dated April 5, 2025, and seen by Nairametrics, Echefu, Igboanuga (Govt Director of Telecom Satellites Restricted), and Telecom Satellites Restricted had been accused of agreeing to unlawfully retain unremitted VAT, Firm Earnings Tax, and PAYE accrued to the Federal Authorities of Nigeria, deducted from the salaries of employees, on or about Might 18, 2020.
Particulars of the remaining 11 counts are as follows:
The aforementioned depend fees put the cash in dispute at N66,917,784.47 in tax default and N1,098,000,000 and $1,350,000 in mortgage funding fraud.
On June 30, 2025, the defendants had been arraigned earlier than Justice Mohammed Umar on these fees and pleaded not responsible to all of them.
He seized the second to ask for an adjournment for a report of settlement, stating: “There are strikes to settle this matter and there was a gathering on Saturday between myself with the Nominal Complainant as it’s about funding.”
“The Defendants (Echefu and others) have paid some cash and I used to be pondering that the matter be adjourned for report of settlement,” the senior lawyer stated.
“They’re appropriate, they’ve made some fee however they haven’t taken their Plea and the matter can’t be adjourned for trial. I have no idea if we are able to adjourn for trial with out them taking their Plea,” he responded, to which the courtroom agreed and directed the fees be learn to the defendants.
Nairametrics gathered that the case was adjourned by the courtroom to fifteenth October 2025 for trial.
This case stays an allegation, and the defendants are presumed harmless till confirmed responsible.
The admission and affirmation of settlement strikes by the defendants suggest that the defendants are apparently exploring methods to resolve the dispute with no cash laundering legal trial, which recommends not lower than 4 years imprisonment for defaulters.
Settlement is allowed in regulation however is essentially on the discretion of the courts.
TStv, a satellite tv for pc TV firm launched by Echefu, was anticipated to crush the monopolistic tendencies of Multichoice, house owners of DStv and GOtv in Nigeria.
TStv utterly went off the radar once more in March 2023 and has remained so so far.
In November 2024, Brilliant Echefu unveiled one other Pay TV known as LUFT TV, years after abandoning 1000’s of shoppers on the same undertaking, TStv.
Echefu, nevertheless, spoke about TStv, which remained off the radar severally, saying it’s “not useless.” He hinted that TStv subscribers can be onboarded onto LUFT TV.
