A money laundering case involving an ex-director and her firm has been adjourned to 16 December 2025 as legal objections stall arraignment

A Federal High Court in Lagos has adjourned the arraignment in a Money Laundering Case involving retired company director Taiwo Ibitola and her firm, Lexhan Investment Ltd, following her failure to appear in court to take her plea.

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Justice Akintoye Aluko fixed the new date for December 16, 2025, after noting the defendant’s absence when the matter was called.

The case, filed by the Police Special Fraud Unit, centres on allegations that Taiwo and others at large conspired to convert assets worth an estimated N20bn belonging to the estate of the late father of Mrs Idowu Ashiru and her siblings.

According to the charge marked FHC/L/781/C/2025, the funds were allegedly diverted on or before March 5, 2024, in Lagos.

The police claimed that while Taiwo served as a director at Shonny Investment and Property Company Ltd and at Lexhan Investment Ltd, which she reportedly incorporated to manage the estate, she used the shares and proceeds for her personal benefit.

The police argued that the alleged actions amounted to fraud, conversion and retention of proceeds of crime, contrary to Section 21(a) of the Money Laundering (Prevention and Prohibition) Act 2022 and relevant provisions of the Criminal Code.

Neither the prosecutor nor the first defendant appeared when the matter came up last Thursday. However, Senior Advocate of Nigeria Prof. Taiwo Osipitan represented the defence, informing the court that a Motion on Notice filed on November 6 sought to challenge the criminal component of the charge.

Osipitan said the dispute was a family inheritance matter rather than a criminal issue and asked for an adjournment to allow the prosecution, which was absent, to be properly served. He argued that the charge amounted to an abuse of process and should be set aside.

Following the submission, Justice Aluko adjourned proceedings to allow the defence to serve the prosecution and for the arraignment to proceed on the rescheduled date.

In the motion, the defence is seeking a raft of orders, including the suspension of arraignment, exemption of the defendant from physical court appearances pending determination of the application, and an order restraining the police from arresting or arraigning her meanwhile.

The defence also wants the court to dismiss the four-count charge entirely, describing it as unconstitutional, oppressive and a violation of the right to fair hearing.

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The Money Laundering Case is expected to resume on December 16, when the court will consider both the plea and the pending applications.