The Port Harcourt Zonal Directorate of the Economic and Financial Crimes Commission (EFCC), has arraigned Precious Williams, the Director of Glossolalia Nigeria Ltd and Pelegend Nigeria Ltd, before Justice S.I. Mark of the Federal High Court, sitting in Port Harcourt, Rivers State.
Williams is facing a 14-count charge bordering on conspiracy, advance fee fraud, obtaining money under false pretence, and money laundering to the tune of ₦13.8 billion.
According to the EFCC, one of the charges alleges that between August 24, 2019, and February 15, 2020, Williams and her companies, Glossolalia Nigeria Ltd, Pelegend Nigeria Ltd, Phenom 413 Events Ltd, and Doxasterz Oil and Gas Ltd, took possession of ₦10 billion through her Sterling Bank account.
The money was allegedly transferred by Maxwell Chizi Odum (still at large) and MBA Trading and Capital Investment Ltd (also at large), which was purportedly collected from over 3,000 unsuspecting Nigerians, including one Christian I. Agadaga, under the false pretext of a high-yield investment offering monthly returns of 10 percent to 15 percent.
Another charge stated that between December 17, 2019, and November 13, 2020, Williams allegedly received ₦1.005 billion through a Polaris Bank account operated by Pelegend Nigeria Ltd, funds which the EFCC claims were also proceeds of fraudulent investment schemes run by Odum and MBA Trading.
Williams pleaded not guilty to all the charges.
Prosecution counsel, E.K. Bakam, requested a trial date and urged the court to remand the defendant in a correctional facility.
However, her counsel, Tochukwu Maduka (SAN), informed the court of a pending bail application and prayed for her release to enable her prepare for trial.
Bakam opposed the bail request, arguing it was filed prematurely, before the charges were amended and before Williams’ formal arraignment.
He urged the court to dismiss the application and advise the defence to file a fresh one.
Justice Mark, in his ruling, ordered that Williams be remanded at the Port Harcourt Correctional Center and adjourned the matter to June 17, 2025, for the hearing of the bail application.
Williams was initially arrested in April 2021, following a series of petitions alleging that she received and laundered funds from more than 3,000 victims under false pretences of profitable investment returns.
The case underscores the EFCC’s ongoing efforts to clamp down on investment-related fraud and financial crimes in Nigeria.
