June 17, (THEWILL) – The Economic and Financial Crimes Commission (EFCC) has arraigned Precious Williams, director of Glossolalia Nigeria Ltd and Pelegend Nigeria Ltd, before Justice S. I. Mark of the Federal High Court in Port Harcourt, Rivers State, over an alleged N13.8 billion fraud.
Williams is facing a 14-count charge bordering on conspiracy, advance fee fraud, obtaining money under false pretence, and money laundering.
The EFCC accused her of receiving billions of naira from members of the public under the pretext of an investment scheme promising 10 to 15 percent monthly returns.
One of the charges reads:
“That you, Precious Williams of Glossolalia Nigeria Limited; Pelegend Nigeria Limited, Phenom 413 Events Limited (company representative at large) and Doxasterz Oil and Gas Limited, sometime between August 24, 2019 and February 15, 2020, at Port Harcourt, directly took possession of the sum of N10,000,000,000 from Maxwell Chizi Odum (still at large) and MBA Trading and Capital Investment Limited (at large) through your Sterling Bank account, when you reasonably ought to have known that the funds were proceeds of unlawful activities…”
Another count states she received over N1 billion through a Polaris Bank account linked to Pelegend Nigeria Ltd, also allegedly traced to the fraudulent investment operations of MBA Trading and Capital Investment Limited.
A statement by EFCC spokesperson Dele Oyewale said Williams pleaded not guilty to all charges.
Prosecution counsel, E.K. Bakam, requested a trial date and asked the court to remand the defendant. Defence counsel, Tochukwu Maduka (SAN), argued for bail to allow Williams prepare for her trial, but the prosecution opposed it, stating the bail application was premature since it was filed before the amended charge and arraignment.
Justice Mark ordered that the defendant be remanded at the Port Harcourt Correctional Centre and adjourned the case to June 17, 2025, for hearing on the bail application.
Williams was arrested following multiple petitions alleging she received funds from over 3,000 victims under false pretence and laundered the proceeds.
The petitioners claimed that between 2019 and 2020, Williams, alongside MBA Trading and Capital Investments Ltd and other agents now at large, promised investors 10–15 percent monthly returns and the option to withdraw or reinvest their capital after six months.
However, the promised returns were never paid, nor was the capital refunded.
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