A significant development unfolded in the Federal High Court in Abuja as Trinity Usman, a Bureau De Change operator, testified for the Economic and Financial Crimes Commission (EFCC), confirming the receipt and transfer of $3 million into the account of Aisha Achimugu’s company, Oceangate Engineering Oil & Gas Ltd.
Usman, the second prosecution witness (PW-2), provided detailed evidence regarding the financial transactions involving the businesswoman.
Usman explained that the funds were part of a larger $12 million cash transaction conducted over a period of 10 days, from March 10 to March 20, 2025. He clarified that the transactions were carried out through his staff members, Abdulkadir Mohammed and Kabir Haruna, due to the suspension of his company’s license at the time. The funds were deposited into Achimugu’s company account at Zenith Bank, facilitated by SunTrust Bank officials, including Halima Buba, the Managing Director, and Innocent Mbagwu, the Executive Director and Chief Compliance Officer.
The EFCC has charged Buba and Mbagwu with aiding and abetting high-value cash transactions without routing them through a financial institution, in violation of Nigeria’s Money Laundering (Prevention and Prohibition) Act, 2022. The charges encompass six counts, alleging that the duo facilitated the illegal movement of millions of dollars, circumventing established financial protocols. Both defendants have pleaded not guilty to the charges and were granted bail in the sum of N100 million each.
During the proceedings, Usman presented a bundle of documents as evidence, detailing the transactions conducted at various branches of SunTrust Bank in Abuja and Lagos. He testified that Achimugu had contacted him to facilitate the foreign exchange transaction, and upon reaching out to Buba, she confirmed her awareness and approval of the arrangement. Usman further stated that he made a profit of N15 million from the transaction.
The EFCC’s case against Buba and Mbagwu is part of its broader efforts to combat money laundering and financial crimes in Nigeria. The commission aims to ensure that financial institutions adhere to legal and regulatory standards to prevent illicit financial activities. The trial is ongoing, with the EFCC presenting additional evidence to support its case.
