An official of Fidelity Bank Plc, Mr Timothy Olaobaju, on Monday, March 13, explained how a former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, deposited $115,010,000 in the bank, with specific subsequent instruction for the money to be changed to naira and distributed among some individuals across the federation.
Among the beneficiaries, Olaobaju said, were a Senior Advocate of Nigeria, Mr Dele Belgore; and a former Minister of National Planning, Prof. Abubakar Sulaiman, both of who received N450 million.
Olaobaju diaclosed this when he appeared as a prosecution witness before Justice Rilwan Aikawa of the Federal High Court, Lagos, where Belgore and Sulaiman are facing trial for alleged money laundering involving N450 million.
The Economic and Financial Crimes Commission has slammed five-count charges on Belgore and Sulaiman, along with Alison-MAdueke, wh is said to be at large.
The EFCC had earlier arraigned Belgore and Sulaiman on February 8, but the anti-corruption agency re-arraigned them on Monday on an amended charge, and added Alison-Madueke’s name.
Pleading not guilty to the charges preferred against them, like they had earlier pleaded, Belgore and Sulaima’s trial commenced immediately, with the EFCC calling Olaobaju as prosecution witness number one.
Led in evidence by the EFCC counsel, Mr Rotimi Oyedepo, Olaobaju told the court, “Sometime in April 2014, our MD, Mr Nnamdi Okonkwo, gave a directive that certain companies and individuals would pay into an account with our bank some amounts of money. The purpose of the payment was not disclosed.
“Over the period, thereafter, some amounts were paid into the account. The funds were deposited in dollar. The total sum was $115,010,000.
“On March 27, 2015, there was an instruction from the former Petroleum Resources Minister, Diezani Alison-Madueke, through our MD, that the fund in the account should be converted to naira and paid to certain individuals, whose list, as beneficiaries, was sent to our MD and the amount to be paid to them in naira.
Olaobaju said, “The funds were paid according to Alison-Madueke’s instructions. On the list sent to our branch, the names of the defendants (Belgore and Sulaiman) were on that list, because the money was paid in about 36 states of the federation.
“The defendants were not customers of our bank. The instruction was that the sum of N450 million should be paid to Mr Belgore, SAN, and Prof. Suleiman. They both received the money and they filled the Receipt of Payment as evidence of receipt of the money and acknowledgement of same.”
He said that Belgore and Sulaiman signed separate RoP for the same N450 million on March 26, 2015.
The court admitted both Receipts of Payment in evidence and marked them as Exhibits 1 and 1A.
When asked if any cheque was issued in favour of Belgore and Sulaiman in respect of the fund, Olaobaju answered in the negative.
And asked whether the N450 million was credited into any account, the witness said, “To my knowledge, the N450 million was not credited into any account.”
But Belgore’s lawyer, Chief Ebun Shofunde, SAN, requested for an adjournment to cross-examine the witness, saying that most of the witness’ evidence were not in the proof of evidence front-loaded and served on the defence counsel.
Sulaiman’s lawyer, Mr Olatunji Ayanlaja, SAN, aligned himself with Shofunde.
The prosecutor grudgingly conceded to an adjournment till Tuesday in view of his respect for the defence counsel.
Justice Aikawa, consequently, adjourned the matter till Tuesday for further proceedings.
In the charges, Suleiman, a professor of Political Science and International Relations at the University of Abuja, and Belgore, a former governorship aspirant in Kwara State, were accused of conspiring between themselves to commit the offence on March 27, 2015.
They were accused of making a cash transaction of N450 million on March 27, 2015, without going through any financial institution.
The EFCC claimed that the defendants paid N50 million to one Sheriff Shagaya, adding that the cash sum was above the lawful threshold permitted by the Money Laundering (Prohibition) Act.
It further claimed that the defendants “ought to have reasonably known that the N450 million formed part of proceeds of an unlawful act.”
Belogore and Sulaiman were accused of violating sections 1(a), 16(d), 15(2) (d) and 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012.
The prosecution said they are liable to be punished under sections 15(3) (4), and 16(2) (b) of the same Act.
Justice Aikawa had earlier granted them bail on self-recognition.
