The first prosecution witness in the ongoing trial of SunTrust Bank executives, Halima Buba and Innocent Mbagwu, on Friday told the Federal High Court, Abuja, that he received $12 million in cash, for transfer into the bank accounts of businesswoman Aisha Achimugu.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Halima Buba, Managing Director/Chief Executive, and Innocent Mbagwu, Chief Compliance Officer of SunTrust Bank, on a six-count charge bordering on money laundering involving the $12 million.
During his testimony before Justice Emeka Nwite, the first prosecution witness (PW1), identified as a bureau de change operator, said that between March 10 and 24, 2025, he received $12 million in cash from Achimugu.
According to him, the transactions were facilitated through SunTrust Bank’s Abuja and Lagos branches.
While being led in evidence by EFCC counsel, Rotimi Oyedepo (SAN), NAIJAONPOINT stated: “None of the money went through my account,”
despite holding both naira and dollar accounts with SunTrust Bank.
He clarified that the transactions occurred outside formal banking procedures.
“It was on social media that I heard that Aisha Achimugu had been arrested and I forwarded it to the first defendant.
“I can also recall that after meeting Aisha Achimugu, she has also given me a total of $1.8 million for conversion into naira and they were in tranches,” he added.
Achimugu is the owner of Ocean Gate Energy Oil and Gas, whose bank account is domiciled with Zenith Bank Plc.
During cross-examination, defence counsel Johnson Usman (SAN) sought to tender several documents as exhibits. These included charge sheets, extra-judicial statements from the defendants and other witnesses, a certificate of identification, and correspondence from SunTrust Bank to the EFCC.
However, the prosecution opposed the application, arguing that the defence failed to present Certified True Copies (CTCs) of the documents, a requirement under Nigerian law.
“The documents from Page 10 to 12 can only be certified by the officer of the EFCC. From Page 13 to 31 is a letter from SunTrust Bank to the EFCC, forwarding account statements and account opening documentation of Aisha Achimugu to the EFCC. It is only the officers of the EFCC who received these documents and are in custody of the original that can properly certify these documents, so they cannot be tendered from the bar,” Oyedepo argued.
He continued: “From Page 32 to 83 are extra-judicial statements of the defendant to the EFCC and other witnesses to be called in this proceeding, and it is the EFCC that can certify these documents.
“The extra-judicial statements of the various witnesses can only be tendered upon the satisfaction of the condition enunciated in Section 232 of the Evidence Act.”
Further objecting, he noted: “Pages 84 to 181 have already been tendered as Exhibit P1. We submit that pages 2 to 181 must comply with Section 104 of the Evidence Act.
“There is no name of a certified officer, no designation, no evidence of payment of certified fees.
“I believe my lord that what the tendering party intends to achieve is to turn my lord into a forensic expert.
“I ask my learned brother to do the needful, and I urge your lordship to decline its admissibility.”
Following the 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.