A Federal High Court sitting in Ikoyi, Lagos, has convicted a former Executive Secretary of the National Health Insurance Scheme, NHIS, Olufemi Thomas, for breaching Nigeria’s cash transaction limit law.

The court, however, cleared him of all money laundering allegations.

Delivering judgment, Justice Olayinka Faji acquitted Thomas on five of the six counts filed by the Economic and Financial Crimes Commission, EFCC, ruling that the prosecution failed to prove its case beyond a reasonable doubt.

The judge held on Thursday that the EFCC admitted during the trial that it did not investigate several claims made by the defendant and had not established that he was unlawfully enriched.

Consequently, the court ordered the EFCC to return all funds seized from Thomas within 14 days, subject to his payment of a N10 million fine.

The fine followed his conviction on count five, which involved making a cash payment that exceeded the N5 million threshold allowed by law.

“While the money was not proven to be proceeds of unlawful activity, the act of paying above the cash threshold is a violation,” the judge said.

Thomas was ordered to pay a N10 million fine in lieu of imprisonment and was barred from travelling abroad until the fine is fully paid.

The court also convicted the second defendant, Kabiru Sidi, on the only count against him — for falsely claiming ownership of $2.1 million during the EFCC’s investigation.

Thomas and Sidi were first arraigned on 28 June 2017 on an amended seven-count charge, including conspiracy, unlawful enrichment, and making false statements concerning the movement of $2,198,900 allegedly in cash.

In a statement by its Head of Media and Publicity, Dele Oyewale, the EFCC said the duo were arraigned by its Lagos Zonal Directorate 1.

Six of the charges against Thomas centred on money laundering and the unlawful transfer of cash, allegedly in violation of the Money Laundering (Prohibition) Act, 2011 (as amended).