The defendants are facing trial on an amended 11-count charge bordering on money laundering to the tune of N3.1 billion.
This was contained in a statement by the Economic and Financial Crimes Commission on its Facebook page.
At a resumed hearing today, prosecution counsel O.A Atolagbi who held the brief of Rotimi Jacobs, SAN, informed the court that the matter was slated for continuation of trial and cross-examination of the 5th prosecution witness, PW5.
J. B. Daudu, SAN and Paul Erokoro, SAN appeared for the 1st and 2nd defendants.
In cross-examining the witness, Mrs. Mshelia Clara-Whyte, an investment banker working with Investment Partners, Daudu SAN, asked her whether the company she worked for was registered with the Central Bank of Nigeria, CBN? She answered, no, but told the court that it was registered with the Securities and Exchange Commission.
On his part, Erokoro asked the witness whether her firm normally reports suspicious transactions to relevant agencies.
“We are bound by rules of the financial market to report any transaction whether suspicious or not that is above five million naira to NFIU and SEC, and we send the report every Friday.
“But on this particular transaction, we did not report it as suspicious but rather, as an activity,” she stated.
Justice Mohammed adjourned the trial till tomorrow, May 24, 2023 for continuation of trial.
The Economic and Financial Crimes Commission is accusing the duo of allegedly diverting the money which was said to be part of the proceeds of the sale of shares of Benue State in a company to their personal use.