A key witness in the ongoing $12 million fraud trial involving two top executives of SunTrust Bank has told the Federal High Court in Abuja that he received the entire sum in cash, facilitated through the bank’s branches in Lagos and Abuja, without any transaction passing through his account.
Testifying before Justice Emeka Nwite, the first prosecution witness (PW1), a bureau de change operator, disclosed that between March 10 and 24, 2025, he received $12 million from Aisha Achimugu, owner of Ocean Gate Energy Oil and Gas, for onward transfer. He revealed that although he maintains both naira and dollar accounts with SunTrust Bank, “none of the money went through my account.”
Led in evidence by EFCC prosecution counsel, Rotimi Oyedepo, SAN, the witness also confirmed that he had previously converted an additional $1.8 million in tranches for Achimugu, who was said to have been arrested earlier this year.
The case involves Halima Buba, Managing Director/Chief Executive of SunTrust Bank Ltd, and Innocent Mbagwu, the bank’s Chief Compliance Officer, who are facing a six-count charge bordering on money laundering to the tune of $12 million.
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Drama ensued during cross-examination when defence counsel, Johnson Usman, SAN, attempted to tender several documents, including extra-judicial statements of the accused and other EFCC witnesses, a certificate of identification, and charge sheets. However, the prosecution opposed the move, arguing that the defence failed to present certified true copies as required by law.
According to Oyedepo, only officers of the EFCC who are in custody of the original documents could properly certify them. He also emphasized that the extra-judicial statements of witnesses must comply with Section 232 of the Evidence Act, and the defence’s submission lacked the necessary authentication, including name and designation of certifying officers or evidence of certification fee payment.
“My Lord, what the tendering party intends to achieve is to turn this Honourable Court into a forensic expert. I urge the court to decline admissibility,” Oyedepo argued.
Following heated legal arguments, Justice Nwite adjourned the case to October 16 and 17, 2025, for ruling on the admissibility of the exhibits and continuation of cross-examination.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Buba and Mbagwu for allegedly facilitating illicit cash transactions involving $12 million, in contravention of Nigeria’s anti-money laundering laws.
