By Vivian Okejeme, Abuja
The Economic and Financial Crimes Commission (EFCC), witness, on Thursday, narrated before the federal High Court, how the Managing Director of SunTrust Bank, Halima Buba, and the Bank’s Executive Director, Innocent Mbagwu, allegedly aided high-value cash transactions without routing them through a financial institution.
They were answering a 6-count charge bordering on money laundering to the tune of $12million, which contravenes provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
At the commencement of trial, Thursday, Ekene Iheanacho (SAN) announced appearance for the prosecution; J. J. Usman (SAN) represented Halima Buba (1st defendant), while
- S. Ibrahim (SAN) entered appearance for Innocent Mbagwu (2nd defendant).
Identified as a businessman, who lives in the Kado area of the FCT, the witness said he floated a travel agency, and also formerly operated a Bureau de Change.
Testifying before Justice Emeka Nwite, the witness admitted before that he knew Halima Buba, but only talked on phone with the 2nd Defendant (Mbagwu).
When asked whether he knew why he was in court as a witness, the witness said yes.
“I am in court today in respect of the forex transaction between me, the 1st defendant, and Aishatu Achimugu, sometime in March 2025.
“Sometimes on March 9 or 10, 2025, I received a call from Aishatu Achimugu that she has some forex transaction to be carried out in SunTrust Bank, Abuja and Lagos branches.
“I called the 1st defendant (Halima Buba) and she confirmed the transaction.
“So, on the 19th of March, 2025, I got a call from one Illya, a staff of Aishatu Achimugu, that she was in SunTrust Abuja for payment of forex as a swap to be paid into Aishatu OceanGate Energy Oil and Gas domiciled in Zenith Bank, which I confirmed from the 1st defendant.
“I contacted a friend, Hassan of Ashraf Energy who sent Tijani Adamu for the collection of the cash payment, “ the witness said.
According to the witness, that same day, he got a call from the 1st defend, that Illya was at SunTrust bank with the cash payment, adding that he then contacted his friend that works with Tripple A, who sent Abdulkadir Mohammed to collect the cash payment of $1million United States Dollars.
“Later, I also sent Kabiru to receive a cash payment of $2m dollars for the swap, he said.
When asked if he was told the reason for the swap, the PW1 answered in the affirmative.
“Yes, Aishatu Achimugu called to say that she wanted to buy an Oil bloc and she will need some Dollars into the OceanGate Energy Oil and Gas account in Zenith Bank.”
On how he knew Aisha Achimugu, the witness said; “I got to know Aishatu Achimugu, sometime in 2021, through Halima Buba, who is the MD of SunTrust Bank Ltd.”
The PW1 admitted that Aisha Achimugu informed him that cash would be paid into SunTrust Bank’s Abuja and Lagos branches.
Similarly, the witness said on 13th March 2025, he received a call from Aisha Achimugu that a cash payment is available at SunTrust Bank’s Lagos branch, in the sum of $1m Dollars.
“I called the 1st defendant for more information, and she sent me a normal message through my WhatsApp.
“When I called the 2nd defendant, he said he wasn’t aware of the transaction. I sent a message to the 1st defendant about the response of the 2nd defendant, and she sent a screenshot of her chat with the 2nd defendant to me.
“Afterward, the 2nd defendant now called me that I can send for the cash collection; and I also informed Hassan Dankali of Ashrap, who sent Muktar Miko to collect the cash.
“On 13 March, 2025, we received a cash payment of $2m Dollars from the 2nd defendant.
“On 14th March, 2025, we also received a cash payment of $2m Dollars from the 2nd defendant for swap.
“On 20th March, I also received information from Aisha that there is $2m Dollars for cash swap, and I contacted Hassan of Ashrap, who sent Sani for the cash payment. Also, the same thing happened on the 24th of March 2025, Sani also received cash payment of $2m Dollars from the 2nd defendant for payment of inflow into OceanGate Energy Oil and Gas, the EFCC witness testified.
Apart from the transactions for the Oil bloc, the witness disclosed that Aisha Achimugu also called, “that she’s sending somebody that will transfer naira cash in exchange of US Dollars.
The cumulative transactions allegedly laundered are said to total $12 million.
Trial continues on July 18.
