A compliance officer with Zenith Bank has told the Federal High Court in Abuja that the bank reported suspicious transactions linked to former Attorney-General of the Federation, Abubakar Malami, to the Nigerian Financial Intelligence Unit (NFIU).
The bank official, Mashelia Bata, gave the testimony on Wednesday during the ongoing trial involving Malami, his wife and son over alleged money laundering amounting to ₦8.7 billion.
According to the witness, the bank filed a Suspicious Transaction Report after noticing repeated patterns in deposits made into an account connected to the former minister. He explained that banks are required to alert the NFIU whenever transactions appear repetitive or unusual.
During cross-examination by defence counsel, the witness admitted that the deposits complied with Central Bank of Nigeria guidelines but maintained that the transactions still raised concerns that warranted reporting.
Counsel to the EFCC, Jibrin Okutepa, later asked the witness to explain the meaning of a Suspicious Transaction Report, but the defence objected. However, Justice Joyce Abdulmalik overruled the objection and allowed the witness to answer.
Bata told the court that financial institutions are mandated to escalate transactions that show suspicious or repetitive patterns to the NFIU for monitoring and possible investigation.
After the testimony, the witness was discharged, while the court adjourned the matter till May 22 for continuation of trial.
