The trial of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, took a new turn on Wednesday, May 13, 2026, as the Fourth Prosecution Witness (PW4) revealed that Zenith Bank Plc filed a Suspicious Transaction Report (STR) in relation to his financial dealings.
Malami, his wife Hajia Bashir Asabe, and son Abubakar Abdulaziz Malami are facing prosecution by the Economic and Financial Crimes Commission (EFCC) on an amended 16-count charge.
The charges include conspiracy, procuring, disguising, concealing, and laundering proceeds of unlawful activities amounting to ₦8.7 billion, in violation of the Money Laundering (Prevention and Prohibition) Act, 2022.
The witness, Mashelia Arhyel Bata, a compliance officer with Zenith Bank, disclosed under cross-examination by defence counsel, Adebayo Adedeji, SAN, that while the deposits complied with Central Bank of Nigeria (CBN) guidelines, the bank was compelled to file an STR.
Under re-examination, EFCC counsel, J.S. Okutepa, SAN, asked Bata to clarify the meaning of an STR.
Despite defence objections, Justice Joyce Abdulmalik allowed the explanation.
Bata stated: “Any deposition of funds seen in a pattern or repetitive, you must escalate it to the NFIU.”
The Nigerian Financial Intelligence Unit (NFIU), an autonomous arm of the CBN, is tasked with analysing and disseminating financial intelligence to combat money laundering and terrorism financing.
Bata further explained that his role as compliance officer involved liaising with law enforcement agencies, though he was not directly managing Malami’s accounts.
Following his testimony, Bata was discharged from the witness box, and Justice Abdulmalik adjourned the matter until May 22, 2026, for continuation of the trial.
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