A compliance officer with Zenith Bank Plc, Mashelia Bata, has told the federal high court in Abuja that the bank filed a suspicious transaction report (STR) over transactions linked to an account associated with former Attorney-General of the Federation, Abubakar Malami.
Bata testified on Wednesday during the ongoing trial involving Malami, his wife, and son over alleged money laundering amounting to N8.7 billion.
The defendants are facing a 16-count charge filed by the Economic and Financial Crimes Commission (EFCC) and have pleaded not guilty.
According to the EFCC, the witness was cross-examined by defence counsel, Adebayo Adedeji, during proceedings before the federal high court in Abuja.
Under cross-examination, Bata admitted that the deposits reflected in the account statements complied with guidelines set by the Central Bank of Nigeria.
However, he said the bank was still obligated to file a suspicious transaction report because of the nature and pattern of the deposits.
During re-examination, EFCC counsel, Jibrin Okutepa, asked the witness to explain what constitutes a suspicious transaction report.
The defence opposed the question, arguing that the term was already clear and required no further explanation.
Okutepa, however, argued that Section 215(3) of the Evidence Act allowed him to re-examine the witness for clarification.
Justice Joyce Abdulmalik overruled the objection and directed the witness to answer the question.
Explaining the process, Bata told the court that banks are required to report transactions with repetitive or suspicious patterns to the Nigerian Financial Intelligence Unit.
“Any deposition of funds seen in a pattern or repetitive, you must escalate it to the NFIU,” the witness said.
Following his testimony, Bata was discharged from the witness box, while the court adjourned the case until May 22 for continuation of trial.
