The Independent Corrupt Practices and Other Related Offences Commission (ICPC) arraigned Amadu Sule, Managing Director of TMDK Terminal Limited and a known associate of former Kaduna State Governor Nasir El-Rufai, before the Federal High Court in Kaduna on January 12, 2026. Sule faces a five-count charge centered on money laundering and unlawful retention of proceeds of fraud totaling over N311 billion, in violation of the Money Laundering (Prevention and Prohibition) Act, 2022. The case highlights ongoing anti-corruption efforts targeting high-profile figures linked to past state administrations.
Detailed Charges
Prosecutors allege Sule exercised control over more than N311 billion funneled through accounts at Fidelity Bank, Stanbic IBTC Bank, and Providus Bank. The funds reportedly originated from INT Towers Limited, IHS Nigeria Limited, IHS Towers NG Limited, and Boaz Commodities Limited, disguised as payments for petroleum product supplies. ICPC contends Sule knew or ought to have known these were proceeds of unlawful activities, including retaining tax components worth hundreds of billions despite fraudulent underlying transactions.
Sule and his company, TMDK Terminal Limited, are accused under Sections 18(3) and 18(4) of the Act, which impose severe penalties for handling illicit proceeds. The charges, signed by Dr. Osuobeni Ekoi Akponimisingha, Head of ICPC’s High-Profile Prosecution Department, underscore the case’s national significance. No direct involvement by El-Rufai has been alleged, though public interest stems from Sule’s described business and political ties to the El-Rufai family.
Court Proceedings
During the arraignment, Sule entered a not guilty plea to all counts. Justice R. M. Aikawa adjourned the matter to January 15, 2026, for Sule’s bail application hearing. Legal observers note the prosecution’s emphasis on traced funds across multiple banks strengthens the case, potentially leading to asset forfeiture if convicted.
No statements from Sule or his legal team were publicly available immediately post-arraignment, maintaining courtroom protocol. ICPC has positioned the action as part of broader accountability drives for public fund management. The involvement of high-profile prosecution signals rigorous evidence gathering.
Background on Amadu Sule and TMDK Terminal
Amadu Sule heads TMDK Terminal Limited, a firm with historical dealings in Kaduna’s business circles during El-Rufai’s governorship (2015-2023). Reports describe longstanding associations with El-Rufai and his brother Bashir, though no charges implicate them directly. The company’s role in alleged petroleum transactions forms the laundering nexus, drawing scrutiny to opaque supply chains.
This case echoes prior ICPC probes into El-Rufai aides, such as Jimi Lawal’s N64.8 million estacode fraud trial, where witnesses like Samuel Aruwan denied receiving funds. Such patterns amplify calls for transparency in state-linked contracts.
Broader Implications
The N311 billion scale—equivalent to significant portions of state budgets—raises questions on oversight in Nigeria’s petroleum sector and tax retention practices. Conviction could yield enhanced penalties, including fines and imprisonment, deterring similar schemes. Analysts view it as testing ICPC’s resolve against politically connected entities.
Public reaction on social media links the case to El-Rufai’s legacy, fueling debates on post-tenure accountability. ICPC’s focus on fraud proceeds retention aligns with global AML trends, potentially influencing regulatory reforms. As bail hearing approaches, outcomes may shape anti-corruption narratives ahead of 2027 elections.