A prosecution witness on Wednesday told the Federal High Court in Abuja that Zenith Bank filed Suspicious Transaction Reports on transactions linked to accounts associated with former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, who is currently facing trial over an alleged N8.7 billion money laundering case.
The witness, Mashelia Arhyel Bata, a compliance officer with Zenith Bank, made the disclosure while testifying before Justice Joyce Abdulmalik at the Federal High Court in 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 alleged conspiracy, concealment, and laundering of funds said to be proceeds of unlawful activities.
During cross-examination by defence counsel, Adebayo Adedeji, SAN, the witness admitted that the deposits reflected in the account statements complied with guidelines issued by the Central Bank of Nigeria.
Despite this, Bata told the court that the bank was still obligated to file Suspicious Transaction Reports in line with regulatory requirements.
“But we had to file Suspicious Transaction Report. We did file,” the witness stated.
Proceedings briefly turned dramatic during re-examination when prosecution counsel, J.S. Okutepa, SAN, asked the witness to explain what constituted a Suspicious Transaction Report.
The defence objected, arguing that there was no ambiguity in the earlier testimony requiring further clarification. However, Justice Abdulmalik overruled the objection after the prosecution relied on Section 215(3) of the Evidence Act.
Explaining the procedure, the witness said suspicious transaction reports are typically filed when transactions appear repetitive or follow unusual patterns.
“Any deposition of funds seen in a pattern or repetitive, you must escalate it to the NFIU,” he told the court.
Bata further clarified that his duties as a compliance officer involved responding to correspondence from law enforcement agencies and monitoring regulatory compliance, noting that he was neither the account officer nor the relationship manager for the accounts under investigation.
Following his testimony, the court discharged the witness and adjourned the matter until May 22 for continuation of trial.
Comments