The Economic and Financial Crimes Commission (EFCC) is prosecuting Halima Buba, Managing Director of SunTrust Bank, and Innocent Mbagwu, the bank’s Chief Compliance Officer, on a six-count charge of money laundering.
A Federal High Court in Abuja has heard that $12 million in cash was received for onward transfer to the bank account of businesswoman Aisha Achimugu.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Halima Buba, Managing Director of SunTrust Bank, and Innocent Mbagwu, the bank’s Chief Compliance Officer, on a six-count charge of money laundering.
At Friday’s hearing, the first prosecution witness, a bureau de change operator, testified that he collected the funds between March 10 and 24, 2025. He said the transactions were handled outside formal banking channels. “None of the money went through my account,” he told the court.
The witness added, “After meeting Aisha Achimugu, she has also given me a total of $1.8 million for conversion into naira and they were in tranches.”
During cross-examination, the defence attempted to tender several documents. However, EFCC counsel Rotimi Oyedepo (SAN) objected, citing improper certification.
Justice Emeka Nwite adjourned the case to October 16 and 17 for ruling on the admissibility of the exhibits and continuation of the trial. Achimugu is the CEO of Ocean Gate Energy Oil and Gas.