By Nkechi Eze
The Federal High Court in Ikoyi, Lagos, on Tuesday, July 1, 2025, heard fresh testimony in the ongoing trial of a Chinese national, Huang Haoyu, and three others over alleged cyber-terrorism, internet fraud, and money laundering amounting to over N3.4 billion and $2.5 million.
The second prosecution witness, Alhassan Garba, a Bureau De Change (BDC) operator, told Justice Daniel Osiagor that he engaged in regular cryptocurrency transactions with the first defendant, Haoyu, also known as “Mr. Ken,” between September and November 2024. He stated that the transaction volumes ranged from $5,000 to $10,000 on a near-daily basis.
In a statement signed by the Commission’s spokesperson, Dele Oyewale, Huang Haoyu is standing trial alongside Friday Audu, An Hongxu, and Genting International Co. Ltd., on an 11-count charge filed by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), Ikoyi, Lagos.
According to the EFCC, the charges border on cyberterrorism, internet fraud, and money laundering totaling N3,407,824,740.78 and $2,562,203. The defendants were among 792 suspects arrested on December 19, 2024, during a sting operation codenamed Eagle Flush.
Led in evidence by the prosecution counsel, Rotimi Oyedepo, SAN, Garba revealed that he had known Haoyu for over a decade and had been conducting financial exchanges for him. “He would often exchange money with me. I also know the second defendant, Mr. Friday; we met sometime last year,” he told the court.
Garba explained that in 2024, Haoyu approached him with a proposal to exchange cryptocurrency, specifically USDT (Tether), into naira. “I agreed and was provided with Genting International Company Ltd’s account details. I would then pay the naira equivalent of the USDT sent to me into the account,” he testified.
The witness further disclosed that he did not own a cryptocurrency wallet and had to engage a third party, one Ifesinachi Jonathan, to facilitate the transactions. Jonathan, he said, provided the USDT wallet address, which he used for the exchanges.
“Between September and November 2024, we had crypto transactions almost every day, with values ranging from $5,000 to $10,000,” Garba stated, adding that “on September 26 and 27 alone, the total sum of N28.9 million was transferred to the Genting International Ltd account.”
He confirmed that these transactions were part of the conversion of USDT to naira for Haoyu and that he acted on Haoyu’s instructions.
When asked by Oyedepo if he had any communication with the defendants after being summoned by the EFCC, Garba disclosed that he was contacted by Friday Audu. “Mr. Friday asked me about my invitation date and said he would extend his own. I told him I wasn’t aware of any extension and would honour mine to see what the EFCC needed.”
He also identified Jonathan as the supplier of the wallet used and stated that Jonathan also made personal transactions to Genting International Ltd. Additionally, Garba mentioned another N16 million transaction to the same company on September 4, 2024, but claimed he had no knowledge of the origin of that payment.
He named one Sanni Muddathir as his business partner, who also made transfers to Genting International Ltd’s account.
The prosecution subsequently sought to tender multiple written statements by Garba made on January 6, 14, 20, 23, 29, February 11, March 14, and April 4. These documents were admitted into evidence and marked as exhibits.
Justice Daniel Osiagor adjourned the matter to Friday, July 4, 2025, for continuation of trial.
