In a significant development in the ongoing N8.7 billion money laundering trial involving former Attorney-General Abubakar Malami, a witness from Zenith Bank has testified that the financial institution submitted Suspicious Transaction Reports (STRs) concerning transactions linked to Malami’s accounts. The testimony was presented before Justice Joyce Abdulmalik at the Federal High Court in Abuja on Wednesday.
The witness, Mashelia Arhyel Bata, a compliance officer at Zenith Bank, revealed during the proceedings that despite the deposits in the account statements adhering to Central Bank of Nigeria guidelines, the bank still filed STRs as part of its regulatory duties. When questioned by defense counsel Adebayo Adedeji, SAN, Bata confirmed that the deposits were in compliance with CBN regulations, but emphasized that the filing of STRs was mandatory.
“But we had to file Suspicious Transaction Report. We did file,” Bata stated unequivocally in court.
A brief legal argument ensued during re-examination when prosecution lawyer J.S. Okutepa, SAN, sought an explanation of what constitutes a Suspicious Transaction Report. The defense objected, claiming the witness’s earlier testimony was clear. However, Justice Abdulmalik allowed the question under Section 215(3) of the Evidence Act.
Expanding on his prior statement, the compliance officer explained that STRs are typically filed when funds are deposited in repetitive or unusual patterns. “Any deposition of funds seen in a pattern or repetitive, you must escalate it to the NFIU,” he clarified.
Bata further noted that his role as a compliance officer primarily involved handling correspondence from law enforcement agencies, and he was not the account officer or relationship manager for the accounts under scrutiny.
Following the witness’s testimony, the court discharged him and adjourned the case until May 22 for the continuation of the trial. Malami is being prosecuted by the Economic and Financial Crimes Commission (EFCC) alongside his wife, Hajia Bashir Asabe, and his son, Abubakar Abdulaziz Malami, on an amended 16-count charge of conspiracy, concealment, and laundering approximately N8.7 billion allegedly derived from unlawful activities.