Alleged N8.7b Fraud: Bankers Filed Suspicious Reports On Malami’s Transactions

The Fourth Prosecution Witness, PW4, in the trial of the former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, on Wednesday, May 13, 2026, told Justice Joyce Abdulmalik of the Federal High Court, Maitama, Abuja, that Zenith Bank Plc, where the former AGF had account, filed Suspicious Transaction Report, STR, in respect of his transactions.

The Economic and Financial Crimes Commission, EFCC, is prosecuting Malami alongside his wife, Hajia Bashir Asabe, and his son, Abubakar Abdulaziz Malami, on amended 16-count charge, bordering on conspiracy, procuring, disguising, concealing and laundering proceeds of unlawful activities to the tune of N8,713,923,759.49 (Eight Billion, Seven Hundred and Thirteen Million, Nine Hundred and Twenty-Three Thousand, Seven Hundred and Fifty-Nine Naira, Forty-Nine Kobo), contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.

The witness, Mashelia Arhyel Bata, a compliance officer with Zenith Bank Plc, made the disclosure while being cross-examined by defence counsel, Adebayo Adedeji, SAN.

When asked whether all the deposits reflected in the account statements were within the guidelines of the Central Bank of Nigeria, CBN, the witness answered in the affirmative, adding, “but we had to file Suspicious Transaction Report. We did file.”

Under re-examination, prosecution counsel, J.S. Okutepa, SAN, asked the witness to explain the meaning of a Suspicious Transaction Report. The defence objected to the question, arguing that there was no ambiguity in the witness’s testimony to warrant clarification.

Okutepa, however, argued that Section 215(3) of the Evidence Act did not preclude him from re-examining the witness and urged the court to allow the question for proper explanation.

Justice Abdulmalik overruled the defence and permitted the witness to answer the question.

In his explanation, the witness said: “Any deposition of funds seen in a pattern or repetitive, you must escalate it to the NFIU.”

The NFIU is the Nigerian Financial Intelligence Unit, which is an autonomous unit of the Central Bank of Nigeria, CBN, and a central agency for analysing and disseminating financial intelligence reports for combating money laundering and terrorism financing.

The witness’s schedule of duty as bank compliance officer, he said “comprises receiving correspondences from law enforcement agencies,” and that he was neither the account officer, nor relationship manager of the defendant’s accounts under investigation.

Following the conclusion of his testimony and with no further questions from either counsel, the witness was discharged from the witness box.

Justice Abdulmalik, thereafter, adjourned the matter till May 22, 2026, for continuation of trial.