Beside him stood his co-defendants, Felix Igboanuga, TStv’s executive director, their company, and Briechberg Investment Ltd, as the Economic and Financial Crimes Commission (EFCC) unfolded a 12-count amended charge accusing them of money laundering, tax evasion, and alleged investment fraud totaling about ₦1 billion and $1.3 million, plus a ₦66 million tax default.

At the heart of the allegations is the claim that Echefu and company duped former Minister Tanimu Turaki, then MD of Kalsiyam Global, alongside BYI General Ltd, through a web of misleading investment promises.

The charges detailed suspicious financial maneuvers: unpaid VAT, corporate taxes, and PAYE from employee payroll, alongside a litany of purported false pretence loan advances, from ₦150 million for farming tech to a hefty $1.35 million in foreign currency loans.

Yet, amid the gravity of the charges, a new chapter began to unfold. Before the court could even hear their plea, Echefu’s lead counsel, Senior Advocate Eyitayo Fatogun, surprised observers by announcing that partial payments had already been made to the complainants, an olive branch aimed at settling the dispute out of court.

But EFCC’s prosecutor A.S. Tomwell cautioned that regardless of payments, a formal plea was mandatory before any trial could be adjourned, a judicial formality that painted a vivid courtroom moment.

Ultimately, Justice Mohammed Umar entered a nuanced ruling: the charges would be formally read, all defendants would enter a not-guilty plea, and the case would be adjourned to October 15, 2025 for trial.

What Lies Ahead

• All defendants have pleaded not guilty, with the court’s next date set in October.
• The partial settlement payments could influence how the trial proceeds—or even lead to an unexpected resolution.
• Until the court hears all evidence, the presumption of innocence stands firm.

Beyond TStv

This case is part of a larger narrative surrounding TStv’s rocky journey. Launched in October 2017 as Nigeria’s first indigenous Pay-TV alternative, the service struggled to maintain relevance. Despite relaunching in 2020, it again faltered in March 2023, leaving many investors and subscribers stranded.

In the interim, Echefu introduced a new Pay-TV brand, LUFT TV, even as legal shadows linger over the tumultuous TStv saga.

As the October trial approaches, legal observers and industry watchers will be closely tracking whether the settlement overture holds—or if the courtroom drama resumes in full force. For now, the story remains one of high finance, high stakes, and high drama.

Others arraigned alongside Echefu before Justice Inyang Ekwo of a Federal High Court, Abuja by the Economic and Financial Crimes Commission, on Thursday, include Felix Igboanuga, the executive director of TStv; TStv and Briechberg Investment Ltd as 2nd to 4th defendants respectively.

They, however, pleaded not guilty to all the counts.

Upon their non-guilty plea, EFCC’s counsel, Tahir Sylvanus, SAN, prayed for an order remanding Echefu and Igboanuga in a correctional centre pending the hearing and determination of the case.

Sylvanus hinged his application on the grounds that it took almost a year after filing the charge before the defendants could be arraigned.

The lawyer, who said Echefu and Igboanuga were flight risk, alleged that the duo refused to turn up for arraignment after being admitted to administrative bail and the charge filed on June 9, 2023.

He, therefore, asked for a speedy trial of the matter.

But Eyitayo Fatogun, SAN, who appeared for the defendants, informed the court that a bail application had been filed on his clients’ behalf in October 2023.

He urged the court to admit them to bail, pledging that the defendants were ready to stand their trial.

But Sylvanus disagreed with Fatogun.

The prosecution lawyer said a counter affidavit was filed on October 16, 2023 in opposition to their bail plea.

He said though the court had a discretionary power to grant bail, the antecedent of the defendants had proven that they were flight risk.

Justice Ekwo then asked if the defendants were earlier granted administrative bail and Sylvanus responded in affirmative.

The judge consequently admitted Echefu and Igboanuga on the terms of the administrative bail earlier granted by the anti-graft agency.

He ordered the defendants to deposit their international passports with the court registrar and not to travel outside the court jurisdiction without the prior leave of the court.

Justice Ekwo, however, threatened to revoke their bail if they failed to show up in court for their trial.

The judge, who adjourned the matter until June 15, June 16 and June 17 for trial commencement, threatened that Echefu and Igboanuga would remain in remand until their trial lasted if their bail is revoked.

The News Agency of Nigeria reports that the defendants were alleged to have, on or about May 18, 2020, committed the money laundering offence, including tax evasion, unremitted Value Added Tax (VAT) and Company Income Tax and Pay As You Earn (PAYE) deducted from the salaries of 165 staff.

The offence is said to be contrary to the Money Laundering (Prohibition) Act, 2011 (as amended in 2012) and punishable under Section 15(3) and (4) of the same Act.

In count five, Echefu, being the MD of Briechberg Investment Ltd on or about May 18, 2020 in Abuja, with intent to defraud, was alleged to have obtained the sum of N150 million from Mr Turaki Kabiru Tanimu, SAN, MD of Kalsiyam Farm.

In count six, Echefu, the TStv MD was also alleged to have defrauded Tanimu, MD of Kalsiyam Global and also former Minister of Special Duties and Inter-Governmental Affairs, the sum of N380 million.

[Source: Eagle Online]