A British-Nigerian art dealer, Oghenochuko “Ochuko” Ojiri, 53, has pleaded guilty to financing terrorism after he was arraigned on eight counts following a police investigation.

He was accused of failing to make a disclosure during the course of business within the regulated sector, contrary to section 21A of the Terrorism Act 2000.

Each count related to an individual sale of artworks, which were sent to Dubai, UAE and Beirut.

At the Westminster Magistrates’ Court, Prosecutor Lyndon Harris said Ojiri sold art at £140,000 to one Nazem Ahmad, a suspected Hezbollah financier.

Sky News quoted Harris as saying, “At the time of the transactions, Mr Ojiri knew Mr Ahmad had been sanctioned in the US.

“Mr Ojiri accessed news reports about Mr Ahmad’s designation and engaged in discussions with others about his designation.

“There is one discussion where Mr Ojiri is party to a conversation where it is apparent a lot of people have known for years about his terrorism links.”

Harris said Ojiri dealt with Mr Ahmed directly, negotiated the sales of artwork and congratulated him on those sales.

Ojiri was bailed ahead of his sentencing at the Old Bailey on 6 June and was ordered to surrender his passport and not apply for international travel documents.

“He is not a flight risk,” Gavin Irwin, mitigating, told the court.

“The fact that he is here – he has left the UK and has always returned, knowing he may be charged with offences – he will be here on the next occasion.”