Banker testifies as trial of Malami, wife, son for alleged N8.7bn fraud begins

By Taiye Agbaje

David Ajoma, a banker, compliance officer with Sterling Bank in Abuja testified as the first prosecution witness on Friday as the Economic and Financial Crimes Commission (EFCC) began prosecution of Mr Abubakar Malami, SAN, former Minister of Justice; his wife, Asabe Bashir, and son, Abdulaziz over alleged money laundering trial to the tune of N8.7 billion.

Ajoma testified after the trial judge, Justice Justice Joyce Abdulmalik directed the EFCC to call its first witness.

Although Joseph Daudu, SAN, who appeared for the defendants, attempted to draw the court’s attention to his clients’ pending bail application, the judge declined the lawyer’s request.

Justice Abdulmalik reminded Daudu that on the last adjourned date, she made an order to the effect.

Justice Abdulmalik held that the bail application and other motions would be taken after the EFCC’s 1st prosecution witness (PW-1) had given his evidence-in-chief.

Following the directive, the EFCC lawyer, Jibrin Okutepa, SAN, called their (PW-1), David Ajoma, a banker.

Giving his evidence, Ajoma told the court that he works as a compliance officer with Sterling Bank in Abuja.

He said he had worked with the bank for three years and handles compliance requests from law enforcement agencies.

The PW-1 testified that on Dec. 2, 2025, Sterling Bank received a request from the EFCC seeking details of loan facilities granted to Rayham Hotel Limited.

According to him, the bank subsequently forwarded the requested documents, including the account opening package, loan account statements, and other supporting records.

The witness, who was led in evidence-in-chief by Okutepa, further told the court that the loan facility granted to Rayham Hotel Limited was backed by a cash collateral from Metropolitan Autotech.

He explained that both Metropolitan Autotech and Rayham Hotel Limited maintain separate accounts with Sterling Bank.

He said the signatory to the Metropolitan Autotech account is one Hassan Aliyu.

Under cross-examination by Daudu, Ajoma admitted that he was not the relationship manager for either Rayham Hotel Limited or Metropolitan Autotech accounts and was therefore not privy to the specific details or purposes of inflows into the accounts.

He also confirmed that the name of the former AGF, Malami, did not appear on the loan application documents presented to the court.

According to the witness, the only name appearing on the loan application was Abdulaziz Malami, who signed as the Managing Director of Rayham Hotel Limited.

Ajoma further told the court that none of the transactions reviewed by the bank originated from any government account, the Federal Ministry of Justice or from Malami personally.

The witness also stated that from the documents available before the court, he could not identify any suspicious transaction linked to the accounts under review.

He added that no transaction was found to be in breach of regulations issued by the Central Bank of Nigeria.

After the witness concluded his testimony, Daudu moved the bail application for Malami, his wife and their son.

Although Okutepa told the court that the commission would not be opposing, he urged the judge to impose conditions that would guarantee the defendants’ availability for trial.

Justice Abdulmalik granted the bail application following no objection by the anti-graft agency.

The judge admitted Malami, his wife and son to a N200 million bail each with two sureties each in like sum.

Justice Abdulmalik ordered that one of the sureties shall deposit his or her title deeds of a landed property located at Maitama or Asokoro, Abuja, to the registrar of the court.

The judge, who ordered the defendants to also deposit their international passports with the court, held that the trio would be remanded in Kuje and Suleja Correctional Centres pending the perfection of their bail terms.

Malami, Asabe and Abdulaziz are being prosecuted on a 16-count charge bordering on alleged money laundering to the tune of N8. 7 billion.

Justice Abdulmalik had, on Feb. 27, admitted Malami and Abdulaziz to a N200 million bail with two sureties in like sum in another charge earlier filed by the Department of State Services (DSS) over alleged terrorism and illegal possession of firearms.

The case had, since, been taken over by the office of the current AGF, Mr Lateef Fagbemi, SAN.

(NAN)