Alleged N714.6m Fraud: Zenith Bank Staff Tells Court How Ex-minister’s Bank Account Was Used To Distribute Funds

A witness and compliance officer with Zenith Bank, Remigius Ugwu, has told a court how the bank account of former Minister of Special Duties and Inter-governmental Affairs, Kabiru Tanimu Turaki (SAN), was used to distribute looted funds.

Ugwu spoke before Justice Inyang Ekwo of the Federal High Court, Abuja, as the second prosecution witness in the trial of Turaki alongside his personal assistant, Sampson Okpetu, and two companies: Samtee Essentials Limited and Pasco Investment Limited on Wednesday.

Led in evidence by the prosecution counsel, Farouk Abdallah, the bank staff revealed how funds were moved from Turaki’s Zenith Bank account to different bank accounts from January 19, 2015.

He said that on January 19, 2015, N359m was transferred to the minister’s account, adding that before the transfer, the balance in the account was N2, 614.38

He also said that on January 22, 2015, there was another transfer of N45m from one Abdullahi Bagudu’s account.

He stated that N50m was transferred from the account to that of Titus Okunriboye on January 27, 2015, while SAMTEE Essentials Limited got N20m.

The bank official said the EFCC sent a letter to the bank requesting to be furnished with Turaki’s account details, including the account opening package, statement of account and bank instruments of eight customers, which the bank obliged the EFCC.

Upon cross-examination by defence counsel, Joe Kyari Gadzama (SAN), the witness told the court that he was not aware Turaki had any other bank account apart from the one he tendered before the court.

The trial was adjourned until September 24, 2020, for continuation of trial.

The EFCC is prosecuting Turaki on 16-count charge bordering on misappropriation of fund to the tune of N714m.