Sh*cking Revelation: SunTrust Bank Allegedly Laundered $12 Million In 10 Days For Aisha Achimugu

A Federal High Court in Abuja has heard details of how $12 million was moved through SunTrust Bank in cash within just 10 days, according to a witness presented by the Economic and Financial Crimes Commission (EFCC).

The witness, Ciroma, a businessman and former bureau de change (BDC) operator, gave the testimony on Thursday during the ongoing trial of Halima Buba, Managing Director and CEO of SunTrust Bank, and Innocent Mbagwu, the bank’s Executive Director and Chief Compliance Officer. He was led in evidence by EFCC counsel, Ekele Iheanacho.

Ciroma revealed that the transaction originated when businesswoman Aisha Achimugu contacted him for a foreign exchange deal through SunTrust Bank. He then reached out to Buba, who confirmed the arrangement. Shortly after, a man named Iliya from the bank’s Abuja branch informed him that $1 million in cash was ready for pickup.

According to Ciroma, multiple cash pickups followed between March 10 and March 20 at different SunTrust branches in Abuja and Lagos. Associates of his collected various amounts: $1 million by Abdulkadir Mohammed, $2 million by a man named Kabiru, and additional tranches on behalf of Ashrap Ltd, a company owned by his friend, Hassan Dantani.

The witness disclosed that the entire $12 million was exchanged and transferred in batches to the Zenith Bank account of Oceangate Energy Oil & Gas, a company he claimed is owned by Achimugu. She reportedly told him the funds were intended for the purchase of an oil block.

Ciroma further testified that Buba coordinated the transactions in Abuja, while Mbagwu handled those in Lagos. The EFCC also submitted WhatsApp messages between Ciroma and Buba as evidence, along with a certificate of identification.

Despite objections from defence lawyers Johnson Usman and M.S. Ibrahim, they reserved their arguments for the final written address.

The EFCC is prosecuting Buba and Mbagwu on a six-count charge of money laundering totaling $12 million, accusing them of facilitating multiple large-scale cash movements without proper banking procedures, in violation of Nigeria’s anti-money laundering laws.