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 sitting in Port Harcourt, Rivers State.
Williams is facing a 14-count charge bordering on conspiracy, obtaining money under false pretences, advance fee fraud, and money laundering involving a total of ₦13.8 billion.
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, within the jurisdiction of this Honourable Court, directly took possession of the sum of Ten Billion Naira (₦10,000,000,000.00) from Maxwell Chizi Odum (still at large) and MBA Trading and Capital Investment Limited (at large), through your Sterling Bank account No. 0064260799, when you reasonably ought to have known that the said funds formed part of the proceeds of unlawful activities.”
Another count states: “That you, Precious Williams, and Pelegend Nigeria Limited, sometime between December 17, 2019 and November 13, 2020, at Port Harcourt, took possession of the sum of One Billion, Five Million, Nine Hundred and Four Thousand Naira (₦1,005,904,000.00) from MBA Trading and Capital Investment Limited (at large) through Pelegend Nigeria Limited’s Polaris Bank account No. 0139723989, funds reasonably suspected to be proceeds of obtaining money under false pretence from Christian I. Agadaga and over 3,000 other unsuspecting members of the Nigerian public under the pretext of a 10% to 15% monthly investment return.”
These offences contravene Section 15(2)(b) of the Money Laundering (Prohibition) Act, 2011 (as amended), and are punishable under Section 15(3) of the same Act.
Williams pleaded not guilty to all charges. The prosecution counsel, E.K. Bakam, requested a trial date and asked that the defendant be remanded in a correctional facility. Defence counsel, Tochukwu Maduka, SAN, informed the court of a pending bail application and urged that bail be granted to allow Williams prepare for her defence.
Bakam opposed the bail request, arguing it was premature as it was filed before the amended charges and prior to her arraignment. He requested that a fresh application be filed.
Justice Mark ruled that Williams be remanded at the Port Harcourt Correctional Center and adjourned the case to June 17, 2025, for hearing on the bail application.
Williams was arrested in April 2021 following a wave of petitions alleging she defrauded over 3,000 investors under false pretences and laundered the proceeds for personal gain.
According to the petitioners, between 2019 and 2020, the defendant—along with MBA Trading and Capital Investment Limited (MBA TCIL) and other yet-to-be-apprehended accomplices—promoted an investment scheme via marketers and social media, promising returns of 10–15% monthly. Investors were told they could withdraw or reinvest their capital after six months.
However, the scheme allegedly collapsed without delivering on any of its promises. Petitioners claim that after collecting billions from unsuspecting Nigerians, neither the promised returns nor the invested capital was ever returned.
