GTB, UBA, others present evidence in N33bn money laundering case

In a significant development in the N33 billion alleged money laundering case against former Minister of Power, Saleh Mamman, compliance officers from Zenith Bank, UBA, Guaranty Trust Bank (GTB), and Wema Bank have submitted key bank documents as evidence.

The case, initiated by the Economic and Financial Crimes Commission (EFCC), saw these officials testify before Justice James Omotosho on Monday.

According to an EFCC statement released on Tuesday, the compliance officers—Mishelia R.B., Mayowa Itiku, Lily Marama, and Oluwunmi Ogunloye—corroborated prior witness testimonies by presenting authentic account details and statements for ten business entities involved in the investigation.

These entities include Sami Court Resort Limited, Golden Bond Nigeria Limited, Samson Bitrus, Gurupche Business Enterprise, Shipikin Global Enterprises, Silverline Ventures, Breathable Investment Ltd, First Class Contraction Ltd, Spinhills Biz International Ltd, and Fulex Utility Concept Ltd.

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Mamman, who served as Minister of Power from 2019 to 2021, was relieved of his duties in 2021 by then-President Muhammadu Buhari amid allegations of financial mismanagement.

Three years later, on July 11, 2024, the EFCC arraigned Mamman, accusing him of conspiracy and the diversion of N33,804,830,503.73 through private companies in violation of Nigerian financial laws.

The EFCC’s legal team, led by Senior Advocate of Nigeria (SAN) Rotimi Oyedepo, has argued that Mamman’s actions constituted a criminal breach of trust involving funds allocated for the Mambilla and Zungeru Hydroelectric Power Plant projects.

At earlier court proceedings, an EFCC investigator disclosed that over N33.8 billion was allegedly transferred from the project account to more than 13 unauthorized entities.

These entities were linked to individuals identified as Maina Goje, Abdullahi Suleiman, and Abdullahi Garba, who described themselves as bureau de change operators. When questioned, these individuals denied having applied for or executed any contracts with the Federal Ministry of Power or the Federal Government.

On Monday, the compliance officers provided crucial evidence in the form of account opening documents and transaction statements.

Prosecuting counsel Oyedepo presented bundles of documents obtained from the banks’ records, which the officers confirmed as authentic. The documents were subsequently admitted as evidence by the court.

Mamman is accused of conspiring with officials of the Ministry of Power and private companies to divert funds intended for the Mambilla and Zungeru projects.

Investigations revealed that these funds were funneled to unauthorized entities, raising questions about their intended use and eventual destinations.

The EFCC contends that the alleged diversion undermined critical national infrastructure projects and constituted a breach of public trust. The commission’s investigation also unveiled links between the entities and suspicious financial activities that did not align with the projects’ objectives.

Justice Omotosho has adjourned the case until January 22, 23, and 24, 2025, for further hearings. The trial’s outcome is expected to set a precedent in the fight against financial corruption in Nigeria.