Bank Reportedly Filed Suspicious Transaction Linked To Malami — EFCC Witness Reveals

According to Ireporter Online, a compliance officer with Zenith Bank Plc, Mashelia Bata, on Wednesday informed the Federal High Court in Abuja that the bank had submitted a suspicious transaction report concerning an account linked to former Attorney-General of the Federation and Minister of Justice, Abubakar Malami.

Bata made the disclosure while giving testimony in the ongoing trial involving Malami, his wife, and his son, who are facing allegations of money laundering involving ₦8.7 billion. The defendants are standing trial on a 16-count charge filed by the Economic and Financial Crimes Commission (EFCC), to which they have all pleaded not guilty.

During cross-examination by defence counsel, Adebayo Adedeji, the witness acknowledged that the deposits reflected in the account statements were in line with Central Bank of Nigeria regulations. However, he maintained that the bank still deemed it necessary to file a suspicious transaction report based on the nature of the transactions.

In the course of proceedings, EFCC counsel, Jibrin Okutepa, urged the witness to clarify the meaning of a suspicious transaction report. The defence objected, arguing that the term was unambiguous, but the prosecution relied on provisions of the Evidence Act to justify further clarification. Justice Joyce Abdulmalik overruled the objection and directed the witness to respond.

The witness explained that financial institutions are obligated to report unusual or repetitive patterns of deposits to the Nigerian Financial Intelligence Unit, noting that any repeated or structured deposit activity must be escalated for review.

Following his testimony, the witness was discharged, while the court adjourned the matter to May 22 for continuation of the trial.