The EFCC, or Economic and Financial Crimes Commission, is a federal law enforcement agency in Nigeria that investigates financial crimes such as advance fee fraud, money laundering, and other related offenses. In this case, the director of Glossalatia Nigeria Ltd and Pelenged Nigeria Ltd, Precious Williams, has been arraigned on a 14-count charge involving conspiracy, advance fee fraud, obtaining money under false pretence, and money laundering. The total amount involved is reportedly N13.8 billion.

Williams is accused of receiving funds from Maxwell Chizi Odum and MBA Trading and Capital Investment Ltd, which were obtained from over 3000 unsuspecting investors who were promised 10-15% interest per month. The charges are based on the Money Laundering (Prohibition) Act of 2011.

Upon her arraignment, Williams pleaded not guilty to all the charges. The prosecution requested a trial date and the defendant's remand in a correctional center. However, the defense counsel, Tochukwu Maduka, SAN, requested bail for the defendant. The court ruled for her remand and set a new date for the hearing of the bail application due to the premature filing of the application before the defendant's arraignment and the amendment of the charge.

The EFCC's actions in this case are in line with its mandate to combat financial crimes and protect the public from fraudulent investment schemes, known as Ponzi schemes, which often leave many people financially devastated. The case will proceed with the hearing of the bail application on the new date set, and if granted, the trial will continue with her at large to prepare for her defense.