TDThe trial of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, took a significant turn on Wednesday, May 13, 2026, as a compliance officer from Zenith Bank Plc revealed that the bank had filed Suspicious Transaction Reports (STRs) on his accounts.
Appearing before Justice Joyce Abdulmalik of the Federal High Court, Maitama, Abuja, the fourth prosecution witness (PW4), Mashelia Arhyel Bata, testified under cross-examination.
Bata said that although deposits into Malami’s accounts adhered to Central Bank of Nigeria (CBN) regulations, the bank nonetheless flagged them as suspicious.
“We had to file Suspicious Transaction Report. We did file,” Bata affirmed, underscoring the bank’s obligation to escalate unusual financial patterns.
Malami, alongside his wife Hajia Bashir Asabe and son Abubakar Abdulaziz Malami, is standing trial on a 16-count amended charge brought by the Economic and Financial Crimes Commission (EFCC).
The charges span conspiracy, procurement, concealment, and laundering of illicit funds amounting to ₦8,713,923,759.49.
The staggering sum was alleged to have been disguised through various transactions, in contravention of the Money Laundering (Prevention and Prohibition) Act, 2022.
During re-examination, EFCC counsel J.S. Okutepa, SAN, pressed Bata to clarify the meaning of STRs.
Defence counsel Adebayo Adedeji, SAN, objected, arguing that the witness’s earlier testimony was clear.
However, Justice Abdulmalik overruled the objection, allowing the explanation.
Bata elaborated: “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 body under the CBN, serves as the nation’s central hub for analysing and disseminating financial intelligence.
Its mandate is to detect and combat money laundering and terrorism financing, making STRs a critical tool in Nigeria’s financial surveillance framework.
Bata clarified that his responsibilities as a compliance officer included handling correspondences with law enforcement agencies.
However, he said that he was neither the account officer nor the relationship manager for Malami’s accounts.
His role was strictly regulatory, ensuring that the bank met its statutory obligations under anti-money laundering laws.
With no further questions from either side, Justice Abdulmalik discharged the witness and adjourned the matter until May 22, 2026, for continuation of trial.
The proceedings highlight the growing reliance on financial intelligence mechanisms in Nigeria’s anti-corruption drive.
In the meantime, the EFCC is seeking to prove its case against one of the country’s most prominent former public officials.
