A prosecution witness in the alleged N8.7 billion money laundering trial involving 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 on transactions linked to the former minister’s accounts.
Mashelia Arhyel Bata, a compliance officer with Zenith Bank, revealed this while testifying before Justice Joyce Abdulmalik of the Federal High Court in Maitama, Abuja.
Malami is being prosecuted by the Economic and Financial Crimes Commission with 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 N8.7 billion said to be proceeds of unlawful activities.
In cross-examination by defence counsel, Adebayo Adedeji, SAN, the witness admitted that the deposits reflected in the account statements were in compliance with the guidelines of the Central Bank of Nigeria.
However, he said the bank continued to file Suspicious Transaction Reports in accordance with regulatory requirements.
“But we had to file Suspicious Transaction Report. “We did file,” the witness told the court.
There was a brief drama during re-examination when the prosecution counsel, J.S. Okutepa, SAN, asked the witness to explain what a Suspicious Transaction Report was.
The defence objected to the question, saying that there was no ambiguity in the earlier testimony of the witness that needed clarification.
The objection was however, overruled by Justice Abdulmalik when the prosecution cited section 215(3) of the Evidence Act.
Further explaining, the witness said suspicious transaction reports are usually filed when funds are deposited in repetitive or unusual patterns.
“You must flag to the NFIU any deposit of funds that you see in a pattern or repetitive,” he said.
The witness further testified that his duties as a compliance officer included responding to correspondence from law enforcement agencies and that he was not the account officer or relationship manager for the accounts under investigation.
After hearing the testimony, the court discharged the witness and adjourned the matter till May 22 for continuation of trial.
