A manager with Zenith Bank on Monday told a Federal High Court in Abuja<\/p>\n
that the $39.9 million paid to a company belonging to a cousin of former
\nPresident Goodluck Jonathan, Mr. Azibaola Robert, was inconsequential to
\nthe bank given the net worth of the firm and its promoter.<\/p>\n
<\/p>\n
Besides, the bank official, who was called as a witness by the \u00a0Economic
\nand Financial Crimes Commission in the ongoing trial\u200e of \u00a0Robert and
\nOneplus Holding, maintained that the bank had never received any
\nincriminating report against the company and its Chief Executive Officer,
\nRobert until the EFCC wrote seeking information in the $39.9 million
\npayment.<\/p>\n
<\/p>\n
The manager, Olabode Farinuola, Zenith Bank\u2019s Deputy Manager
\n(Compliance\u200e), described Robert, his companies as those belonging to the
\nbank\u2019s \u201cHigh Net worth Customers\u201d.<\/p>\n
<\/p>\n
<\/p>\n
According to Farinuola, who was cross examined by Robert\u2019s counsel, Gordy
\nUche, SAN, cash inflows into Oneplus and its sister company, Kakatar CE
\nLimited, make Robert and his wife one of the biggest customers of Zenith
\nbank.<\/p>\n
<\/p>\n
The bank official told the court that Oneplus and Kakatar CE, which belong
\nto Robert were holding big construction projects cutting across the
\ncountry and especially in Abuja and with stead cash inflows into the bank<\/p>\n
The bank official said, \u00a0\u201cThey are net-worth accounts with Zenith Bank
\nPlc. The accounts are very busy as the company is handling several
\nhigh-profile construction projects for the federal government and its
\nagencies.<\/p>\n
He vouched for the integrity of Roberts and his companies.<\/p>\n
<\/p>\n
Farinuola, who is the second Prosecution Witness in the case, told the
\ncourt presided over by Justice Nnamdi Dimgba that he did not know the
\npurpose for which $39.9 million was paid into OnePlus’ account by the
\nONSA, and what it was used for by the firm.<\/p>\n
<\/p>\n
The bank officer stated that the Bank complied with all regulations for
\nopening a corporate account for Oneplus Holdings under the KYC (Know Your
\nCustomer) principle.<\/p>\n
<\/p>\n
Asked if, as a compliance officer, the Bank had ever received any
\ncomplaint of any form of financial misconduct from any law enforcement
\nagency, Mr. Fanriunola, said, \u2018No\u2019 and \u00a0pointed out that the\u00a0\u00a0only letter
\nfrom EFCC to the bank was the one requesting for the account opening
\npackage.<\/p>\n
\u201cNo other agency has ever written to question any financial transaction by
\nOnePlus Holdings,\u201d, he said.<\/p>\n
<\/p>\n
In his earlier testimony of October 6th, led by EFCC counsel, Barrister,
\nTahir, Mr. Farinuola had stated,\u00a0\u00a0\u2018On 22nd January, 2016, we received a
\nletter from EFCC on investigation activities on OnePlus Holdings Limited
\non the domiciliary account requesting for the account opening
\ndocumentation, the statement of account, and a certificate of
\nidentification, which we forwarded to EFCC\u2019.<\/p>\n
On cross examination by the Roberts\u2019 counsel, Gordy Uche (SAN), Mr.
\nFarinuola reiterated that he had never met any of the accused persons in
\nlife, and was meeting them for the first time in court.<\/p>\n
Mr and Mrs Roberts are standing trial for allegedly receiving money from
\nthe ONSA in the last administration for the purposes of handling security
\nmatters for the State. Robert Azibaola is the Managing Director of OnePlus
\nHoldings Limited and Kakatar CE Limited.<\/p>\n
<\/p>\n
\u200e<\/p>\n
The case has been adjourned to November 18, 2016 for the EFCC \u00a0to produce
\nanother witness.<\/p>\n","protected":false},"excerpt":{"rendered":"
A manager with Zenith Bank on Monday told a Federal High Court in Abuja that the $39.9 million paid to a company belonging to a cousin of former President Goodluck…<\/p>\n","protected":false},"author":1,"featured_media":48628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-54491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\n