The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has taken a significant step in a high-profile corruption case by bringing charges against a prominent businessman with strong political ties.
Charges Filed in Federal High Court, Kaduna
Amadu Sule, the Managing Director of TMDK Terminal Limited and a known associate of former Kaduna State Governor Nasir El-Rufai, was arraigned on Monday, January 13, 2026. The case was brought before the Federal High Court sitting in Kaduna.
Sule faces a five-count charge. The accusations center on money laundering and the unlawful retention of proceeds from fraud. These charges are based on alleged violations of the Money Laundering (Prevention and Prohibition) Act of 2022.
Details of the N311 Billion Allegation
According to the charge sheet prepared by the ICPC, the staggering sum at the heart of this case is over N311 billion. The anti-graft agency alleges that Sule exercised control over these funds, which were traced to accounts in three major Nigerian banks: Fidelity Bank, Stanbic IBTC, and Providus Bank.
The prosecution claims the money was received from several companies: INT Towers Limited, IHS Nigeria Ltd, IHS Towers NG Ltd, and Boaz Commodities Limited. The payments were reportedly made for the supply of petroleum products. However, the ICPC contends that Sule reasonably ought to have known that these funds were the proceeds of unlawful activity.
A further serious allegation is that Sule and his company, TMDK Terminal Limited, unlawfully retained the tax components of these disputed transactions. This retained amount is said to be in the hundreds of billions of naira, and the ICPC asserts this was done despite an awareness that the original transactions were fraudulent.
Legal Ramifications and Political Connections
The ICPC has characterized Sule's actions as the "direct handling and retention of illicit proceeds." This exposes both him and his company to enhanced penalties under Sections 18(3) and 18(4) of the Money Laundering Act.
The charges were signed by Dr. Osuobeni Ekoi Akponimisingha, the Head of the ICPC's High-Profile Prosecution Department. Legal experts note that the involvement of this special unit underscores the national importance and political sensitivity of the case.
Public interest in the matter is heightened due to TMDK Terminal Limited's longstanding business and political associations with the El-Rufai family. The company is widely believed to have maintained close dealings with both former Governor Nasir el-Rufai and his elder brother, Bashir El-Rufai, during and after the former's tenure as governor.
The court has adjourned the case to Wednesday, January 15, 2026, for the hearing of the accused's bail application.
