₦55m Money Laundering Bombshell: Pharma Boss Arraigned, Granted ₦100m Bail, Remanded Until Conditions Met
By Passman Akpos
In a courtroom drama that sent shockwaves through Lagos’ business arena, the Economic and Financial Crimes Commission (EFCC) on Wednesday, December 3, 2025, arraigned Gabriel Celestine Nwawuzor, Managing Director of Moonlink Pharmaceuticals Limited, over alleged involvement in a staggering ₦55 million money laundering scheme.
Nwawuzor and his company were dragged before Justice Daniel Osiagor of the Federal High Court, Ikoyi, Lagos, facing a three-count criminal charge involving fraud and laundering of proceeds believed to have been sourced from illicit operations.
According to EFCC prosecutors, the pharmaceutical executive diverted ₦55,000,000 in April 2021 through a Zenith Bank account and subsequently channeled the funds into purchasing a prime property in Asaba, Delta State — allegedly disguising the illegal source of the money.
One of the charges stated that Nwawuzor knowingly retained the allegedly tainted funds through a Zenith Bank account (No. 2170235882), in a manner contravening several provisions of the Money Laundering Prevention and Prohibition Act, 2022.
Another count accused the defendant of using the funds to acquire a luxury property at No. 23, Okenwa Okolo Street, Opana, Asaba, an attempt, the EFCC claimed, to conceal the illicit origin of the money.
Nwawuzor, maintaining his innocence, pleaded not guilty to all charges.
The prosecution, led by S.I. Suleiman, urged the court to remand the defendant immediately, citing the severity of the alleged crime and potential risks of interference.
But the defence fired back with an oral bail application, insisting that their client was no flight risk and was prepared with credible sureties.
After a tense back-and-forth, Justice Osiagor delivered a ruling that sent murmurs across the courtroom:Nwawuzor was granted ₦100 million bail — but under strict conditions.
The court specified that:
Two sureties must each guarantee the bail sum
Sureties must be verified property owners within the jurisdiction
Tax records and affidavits of means must be produced and confirmed
However, despite securing bail, Nwawuzor was remanded into the custody of the Nigerian Correctional Service until full compliance with the bail requirements. Prison officials immediately took him into custody as proceedings ended.
Trial dates were booked for March 11 and 12, 2026, promising explosive courtroom sessions as the prosecution prepares to present evidence linking the pharma businessman to the alleged money laundering trail.
This developing courtroom saga has left observers buzzing — with the pharmaceutical sector watching closely as one of its own battles a legal storm that could reshape industry reputation and accountability.
