A prosecution witness in the alleged ₦8.7 billion money laundering trial of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, on Wednesday told the Federal High Court in Abuja that Zenith Bank filed Suspicious Transaction Reports (STRs) on transactions linked to accounts associated with the former minister.
The witness, a compliance officer with the bank, Mashelia Arhyel Bata, gave the testimony before Justice Joyce Abdulmalik of the Federal High Court, Maitama, Abuja.
Malami is being prosecuted by the Economic and Financial Crimes Commission (EFCC) alongside his wife, Hajia Bashir Asabe, and his son, Abubakar Abdulaziz Malami, on an amended 16-count charge bordering on conspiracy, concealment, and laundering of alleged proceeds of unlawful activities amounting to ₦8,713,923,759.49.
Under cross-examination by defence counsel, Adebayo Adedeji (SAN), the witness acknowledged that the deposits reflected in the account statements complied with Central Bank of Nigeria (CBN) guidelines.
However, he added, “But we had to file Suspicious Transaction Report. We did file.”
Drama briefly ensued during re-examination when prosecution counsel, J.S. Okutepa (SAN), asked the witness to explain the meaning of a Suspicious Transaction Report.
The defence objected, arguing that the testimony was already clear and required no further clarification.
Justice Abdulmalik, however, overruled the objection after the prosecution relied on Section 215(3) of the Evidence Act to justify the question.
Explaining further, the witness told the court: “Any deposit of funds seen in a pattern or repetitive nature must be escalated to the NFIU.”
The Nigerian Financial Intelligence Unit (NFIU) is responsible for receiving, analysing, and disseminating financial intelligence related to money laundering and terrorism financing.
The witness also clarified that his role as a compliance officer involved receiving correspondence from law enforcement agencies, adding that he was neither the account officer nor relationship manager for the accounts under investigation.
After the testimony, the court discharged the witness and adjourned the matter to May 22 for continuation of trial.
