Witness Confirms Receiving $12million In Cash For Onward Transfer To Businesswoman, Aisha Achimugu’s Account

Witness Confirms Receiving $12million In Cash For Onward Transfer To Businesswoman, Aisha Achimugu’s Account

By SaharaReporters

The Economic and Financial Crimes Commission (EFCC) is prosecuting Buba, the Managing Director/Chief Executive, and Mbagwu, the Chief Compliance Officer of SunTrust Bank, on a six-count charge bordering on money laundering involving $12million.

The first prosecution witness in the trial of the top executives of SunTrust Bank, Halima Buba and Innocent Mbagwu, on Friday confirmed to Justice Emeka Nwite of the Federal High Court, Abuja, that he received the sum of $12million in cash, allegedly facilitated by the defendants for onward transfer to Aisha Achimugu’s bank accounts.

The Economic and Financial Crimes Commission (EFCC) is prosecuting Buba, the Managing Director/Chief Executive, and Mbagwu, the Chief Compliance Officer of SunTrust Bank, on a six-count charge bordering on money laundering involving $12million.

Testifying before the court, the First Prosecution Witness (PW1), a bureau de change operator, told the court that between March 10 and 24, 2025, he received $12million in cash from Achimugu.

The transactions, according to the witness, were facilitated through the Abuja and Lagos branches of SunTrust Bank.

While being led in evidence by EFCC counsel, Rotimi Oyedepo (SAN), the witness said, “None of the money went through my account,” despite having both naira and dollar accounts with the bank.

He stated that the transactions were executed outside the formal banking process.

“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,” the witness added.

Achimugu is the owner of Ocean Gate Energy Oil and Gas, whose bank account is domiciled in Zenith Bank Plc.

During cross-examination, defence counsel Johnson Usman (SAN), attempted to tender several documents as exhibits, including count charges, extra-judicial statements from both the defendants and other witnesses, a certificate of identification, and correspondence from SunTrust Bank to the EFCC.

However, the prosecution objected, arguing that the defence failed to tender Certified True Copies (CTCs) of the documents, which is required by 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 that are in custody of the original that can properly certify these documents, so they cannot be tendered from the bar,” Oyedepo said.

He further argued, “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.”

He continued, “Also from Page 84 to 181 has been tendered as Exhibit P1, we submit that whereas Page 2 of the documents, including Page 3 to 181 must be in substantial compliance with Section 104 of the Evidence Act.

“There is no name of 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 to a forensic expert.

“I ask my learned brother to do the needful and I urge your lordship to decline its admissibility.”

In his decision, Justice Nwite adjourned the matter to October 16 and 17, 2025, for ruling on the admissibility of the exhibits and continuation of cross-examination.