…..how $12m was swapped in 10 days, witness reveals
By Ikechukwu Nnochiri
ABUJA– The Federal High Court sitting in Abuja, on Thursday, admitted in evidence, exhibits the Economic and Financial Crimes Commission, EFCC, tendered in the ongoing trial of two bank executives accused of complicity in the laundering of funds totalling $12million.
The defendants in the six-count charge before the court are the Managing Director/Chief Executive Officer of SunTrust Bank Ltd, Halima Buba, and the Executive Director/Chief Compliance Officer, Innocent Mbagwu.
According to the anti-graft agency,
Buba and Mbagwu, aided high-value cash transactions without routing them through a financial institution, contrary to Section 21(a), 2(1), and 9(1)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 19(2)(b) of the same Act.
At the resumed proceeding in the matter on Thursday, the EFCC produced its first witness, PW-1, Mr. Suleman Chiroma, who tendered in evidence, a bundle of documents to support his testimony before the court.
The witness further narrated how the defendants facilitated the release of the $12million at branches of the bank in Abuja and Lagos state, within 10 days.
Led in evidence by the prosecution counsel, Mr. Ekene Iheanacho, SAN, Mr. Chiroma, who identified himself as a businessman that once operated a Bureau de Change, BDC, told the court that the deal commenced on March 10, after he got a call from one Aisha Achimugu who informed him that she had some forex transactions to carry out with the bank.
The witness told the court that he immediately called the 1st defendant, Buba, who confirmed that she was aware of the proposed transactions.
The PW-1 told the court that later on the same day, a man named Iliya called to notify him that he was at a branch of the bank in Abuja for payment of $1m in cash as a swap to be paid to Achimugu through the account of a company, Oceangate Energy Oil & Gas, domiciled in Zenith bank.
“I then contacted my friend Hassan Dankali of Ashrap Ltd, who sent Tijjani Adamu for the collection of the cash payment,” the witness added.
He told the court that on the same day, one Abdulkadir Mohammed collected another $1m cash payment from a branch of the bank in Abuja, while another $2m was also received by a man he identified as Kabiru.
The witness disclosed that the defendants helped to swap the $12m cash payments into the account of Achimugu’s company, in tranches, between March 10 and March 20.
“In all the transactions, I made a profit of N15million,” the witness added.
Asked if he knew the reason behind the alleged illicit transactions, the witness said: “Aisha Achimugu told me that she wanted to buy an oil bloc and would need dollar inflow into Oceangate Energy Oil & Gas account.”
He told the court that while the 1st defendant facilitated the transactions that took place in Abuja, the 2nd defendant handled the ones that occured in Lagos.
Among the exhibits he tendered before the court included printout of WhatsApp conversations he had with the 1st defendant, in relation to the transactions, as well as a certificate of identification he signed.
Justice Emeka Nwite admitted and marked the evidence as Exhibit P1.
Though the defence lawyers, Mr. J. J. Usman, SAN, and Mr. M. S. Ibrahim, said their were opposed to the admissibility of the exhibits, they reserved their reasons till the final address stage.
Justice Nwite adjourned further hearing of the matter till Friday.
It will be recalled that the defendants were on June 13, arraigned before the court, even as they pleaded not guilty to the charge against them.
They were subsequently admitted to bail in the sum of N100m each with one surety in like sum.
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