👀 Fresh Twist In Court as EFCC Witness Mentions Bank’s Suspicious Transaction Report On Malami Link

A compliance officer with Zenith Bank Plc, Mashelia Bata, on Wednesday informed the Federal High Court in Abuja that the bank submitted a suspicious transaction report concerning an account allegedly connected to former Attorney-General of the Federation and Minister of Justice, Abubakar Malami....KINDLY READ THE FULL STORY HERE▶

Bata gave the testimony during the ongoing money laundering trial involving Malami, his wife, and his son over allegations linked to ₦8.7 billion.

The trio is currently facing a 16-count charge filed by the Economic and Financial Crimes Commission (EFCC), bordering on alleged money laundering offences.

All the defendants had earlier entered not guilty pleas to the charges.

According to a statement released by the EFCC, the witness was cross-examined by defence counsel, Adebayo Adedeji.

While responding to questions during cross-examination, Bata acknowledged that the deposits reflected in the account records complied with existing guidelines set by the Central Bank of Nigeria.

Despite this, he stated that the bank still deemed it necessary to raise a suspicious transaction report concerning the pattern of the deposits.

During the proceedings, EFCC counsel, Jibrin Okutepa, requested that the witness explain what constitutes a suspicious transaction report.

The defence objected, arguing that the term required no further clarification.

However, Okutepa maintained that Section 215(3) of the Evidence Act empowered him to re-examine the witness and seek additional clarification where necessary.

Justice Joyce Abdulmalik dismissed the objection and instructed the witness to respond.

Explaining the bank’s position, Bata told the court that financial institutions are obligated to alert the Nigerian Financial Intelligence Unit whenever they observe unusual or repeated patterns of deposits.

“Whenever deposits appear repetitive or follow a suspicious pattern, such transactions must be escalated to the NFIU,” the witness stated.

Following his testimony, the court discharged the witness from the stand.

Justice Abdulmalik later adjourned the case until May 22 for continuation of trial proceedings.