EFCC Arraigns ALSCON, Director Over Alleged N582m Money Laundering
The Economic and Financial Crimes Commission (EFCC) on Monday, October 12, 2026, arraigned the Aluminium Smelter Company of Nigeria (ALSCON) Plc and its Director, Zavyalov Dmitry, before Justice O. A. Egwuatu of the Federal High Court in Abuja over alleged money laundering offences involving ₦582,430,250.
The company and its director face a six-count amended charge marked FHC/ABJ/CR/644/2025. Dmitry is currently at large.
According to the charge sheet, ALSCON, classified as a Designated Non-Financial Business and Profession (DNFBP), and its director failed to report in writing to the Special Control Unit against Money Laundering (SCUML) several single transfers made from the company’s account between March and July 2024.
These transfers are required to be reported under Section 11(1)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The listed transfers include ₦147,515,050 paid to UDATSON Nigeria in March 2024; ₦156,026,860 to the same firm in April 2024; ₦121,425,200 in May 2024; and ₦127,338,190 in July 2024.
Additional amounts were ₦15,124,950 paid to Urico Global Services in April 2024 and ₦15,000,000 paid to one Christopher Azogu in June 2024. All the funds were moved from ALSCON’s account number 1013726291.
Lead counsel to the EFCC, Ekele Iheanacho, SAN, informed the court that the offences are punishable under Sections 11(3), 19(2)(b), and 22 of the Money Laundering (Prevention and Prohibition) Act.
When the charges were read, ALSCON’s Acting Managing Director, Ime Monday Inyang, pleaded not guilty to all six counts on behalf of the company. Counsel to the company applied for the charges to be quashed, insisting the firm was innocent.
Justice Egwuatu adjourned the matter to January 27, 2027, for the commencement of trial.
The case underscores the EFCC’s continued focus on enforcing compliance with Nigeria’s anti-money laundering framework, particularly among designated non-financial businesses and professions that handle large financial transactions.
ALSCON, a major industrial player in Nigeria’s aluminium sector, now faces legal proceedings over the alleged reporting failures.
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