A compliance officer with Zenith Bank Plc told a Federal High Court in Abuja on Wednesday that the bank filed Suspicious Transaction Reports (STRs) on the accounts of a former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, who is standing trial for alleged N8.7 billion fraud.
Mr. Mashelia Arhyel Bata, the fourth prosecution witness (PW4), testified before Justice Joyce Abdulmalik that although transactions on Malami’s account complied with Central Bank of Nigeria (CBN) guidelines, the bank nevertheless escalated his financial activities to the Nigerian Financial Intelligence Unit (NFIU).
The Economic and Financial Crimes Commission (EFCC) is prosecuting Malami alongside his wife, Hajia Bashir Asabe, and his son, Abubakar Abdulaziz Malami, on a 16-count amended charge. The charges include conspiracy, procuring, disguising, concealing, and laundering proceeds of unlawful activities totalling N8,713,923,759.49 (Eight Billion, Seven Hundred and Thirteen Million, Nine Hundred and Twenty-Three Thousand, Seven Hundred and Fifty-Nine Naira, Forty-Nine Kobo), an offence contrary to the Money Laundering (Prevention and Prohibition) Act, 2022.
During cross-examination by the defence counsel, Adebayo Adedeji, SAN, the witness was asked whether all deposits reflected in the account statements were within CBN guidelines. He answered in the affirmative but added: “But we had to file Suspicious Transaction Report. We did file.”
Under re-examination by prosecution counsel, J.S. Okutepa, SAN, the witness was asked to explain the meaning of a Suspicious Transaction Report. The defence objected, arguing there was no ambiguity in the testimony requiring clarification. However, Justice Abdulmalik overruled the objection, citing Section 215(3) of the Evidence Act, and permitted the witness to respond.
“Any deposition of funds seen in a pattern or repetitive, you must escalate it to the NFIU,” the witness explained.
He stated that his schedule of duty as a bank compliance officer “comprises receiving correspondences from law enforcement agencies” and clarified that he was neither the account officer nor the relationship manager for the defendant’s accounts under investigation.
Following the conclusion of his testimony and with no further questions from either counsel, the witness was discharged from the witness box.
Justice Abdulmalik adjourned the matter until May 22, 2026, for the continuation of trial.
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