Alleged ₦3.1bn Fraud: How I delivered $15.8m cash to Suswam in his residence – Witness

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Alleged ₦3.1bn Fraud: How I delivered $15.8m cash to Suswam in his residence - Witness

Alleged ₦3.1bn Fraud: How I delivered $15.8m cash to Suswam in his residence – Witness

Abubakar Umar, the sixth prosecution witness in the ongoing trial of former Benue State Governor, Gabriel Suswam, has testified before the Federal High Court in Maitama, Abuja. Umar, a bureau de change operator and CEO of Fanffash Resources, provided details of how he delivered $15.8 million in cash to Suswam in 2014.

The trial, presided over by Justice Peter Lifu, involves Suswam and his then Commissioner of Finance, Omodachi Okolobia, who are facing 11 amended charges of money laundering totaling ₦3.1 billion. This sum is allegedly part of the proceeds from the sale of Benue State government shares, held by the Benue Investment and Property Company Limited, which were sold through Elixir Securities Limited and Elixir Investment Partners Limited.

READ ALSO:EFCC arraigns former minister over ₦33.8bn fraud

During the proceedings, Umar, who has been testifying since 2018 before different judges, revealed that Suswam had directed him to convert ₦3.1 billion wired to his account into dollars and deliver it to his Maitama, Abuja residence. Umar explained that the first transfer of ₦413 million was made to his account on August 8, 2014, through a proxy—a woman whom Suswam had introduced to him.

“I was in my office in 2014 when the former governor of Benue State asked me to meet him at his house in Maitama, Abuja,” Umar said. “He was with a fair woman and asked me to give her my account number. The woman transferred ₦413 million into my Zenith Bank account. Suswam asked me to convert the money into dollars. After three days, I bought the dollar equivalent and delivered it to him at his house near the Jumat Mosque in Maitama.”

The witness further explained that after delivering the first sum, additional amounts were transferred to his account. These included:

– ₦637 million on September 12, 2014
– ₦363 million on the same day, 40 minutes later
– ₦630 million on October 13, 2014
– ₦1.068 billion on October 17, 2014

Umar confirmed that all these amounts, which totaled ₦3.1 billion, were transferred by the same woman who acted as a proxy for Suswam. He then converted the funds into dollars, amounting to $15.8 million, at the exchange rate of ₦197 per dollar, and delivered the cash to Suswam.

He explained to the court that he did not keep receipts or records for these transactions but relied on his network of fellow bureau de change operators to exchange the naira for dollars.

The prosecution, led by Rotimi Jacobs, SAN, asked Umar to recount the process of delivering the funds to Suswam. Umar described how he would call the former governor to confirm the delivery of the money and would only proceed to his residence after ensuring the security at the gate had been notified of his arrival.

Justice Lifu has adjourned the case until October 4, 2024, for the continuation of the trial.

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