How We Facilitated Laundering Of $2 million For Olisa Metuh — Prosecution Witnesses

It alleged that Metuh converted part of the money to one million US Dollars which he used for his personal businesses.

 

Besides, Metuh was alleged to have transferred the sum of N21.7m to another chieftain of the PDP, Chief Tony Anenih.

 

In her testimony, yesterday, PW-1, Nneka, whose company specialised in management of equities, fixed income instruments and real estate, told the court that she received the $2m from Metuh at his residence in Abuja.

 

She said the money was eventually changed to its Naira equivalent through two Bureaux de Change, BDC, operators.

 

First Witness Testified:

 

“In early December 2014, the 1st defendant, Metuh, called me to bring report regarding portfolio of ARM.

 

“When I got to his house at Prince and Princess Estate, there were visitors in the living room, so I went to his home office and we discussed the portfolio.

 

“Thereafter, he gave me the sum of $2m in $100 bills. It was taken to bureaux de change operators who would then transfer the money to ARM. From there, I proceeded to Mr. Sie Iyenome’s office at Wuse 2 where I gave him the sum of $1m.

 

“I also invited Mr. Kabir Mohammed and gave him the sum of $1m to transfer the Naira equivalent in favour of Destra Investment Limited. Later on the same day, December 2, 2014, Messrs Kabir and Sie Iyenome confirmed the receipt. The $2m was in cash.”

 

"ARM was a duly registered organization that deals in funds of its clients. The business the firm had with Metuh and the BDC operators was based on trust.

 

Second Witness Testified:

 

One of the BDC operators that helped Metuh to change the $2m, Mr. Sie Iyenome, also testified before the court yesterday. Iyenome told the court that though he did not have any personal dealings with Metuh; he had transactions with his company, Destra Investment Limited, through the PW-1.

 

“My lord on  December 2, Nneka Ararume called me that she has $1m dollars to sell. I asked her who is selling and she told me that it was her client at ARM. At that time, she did not disclose her client’s identity to me. We then agreed on a rate, N183 per dollar. I called in Capital Investment & Trustees, which also runs a BDC and they said they were interested and paid for $500, 000.

 

“The second $500, 000 was sold to Etionye, another BDC operator and he paid N92m into Destra’s account.

 

“The first transaction which was in tranches, amounted to N91m, while the second one was N92m. The whole transaction totalled N183m. Typically, the lower currency which is the Naira, will be paid first to the beneficiary’s account. After Nneka confirmed the receipt of the N183m, she brought the equivalent which is $1m.

 

“She brought it in cash; I then passed it to Capital Field Investment & Trustees. The role I played was that of a broker.”

Asked under re-examination if he was aware of the forex laws in Nigeria, the witness said: ‘Yes, my lord. I am aware of the law which says that we should sell a total amount of $4,000 for individuals travelling outside and $5,000 for business people”.

 

Justice Abang adjourned further hearing on the matter till today. The  anti-graft agency had earlier informed the court that it had lined up 18 witnesses to testify against Metuh and his firm during the trial.

 

Among those to testify in the case are representatives of the Office of the NSA, representatives of Diamond Bank, Access Bank, Sterling Bank, First Bank, Heritage Bank, Nneka Nicole Ararume, Alhaji Abba Dabo, Mallam Kabiru Ibrahim, Olayinka Badejo-Okusanya of CMC Connect, Ahmadu Umar of Kwalaye Investment Limited, Theophilus Musa of Capital Fields Investment and six EFCC investigators.