Bank Flags Malami’s Transactions as Court Hears Fresh Details in Alleged N8.7bn Money Laundering Trial
Bank Flags Malami’s Transactions as Court Hears Fresh Details in Alleged N8.7bn Money Laundering Trial Fresh revelations emerged at the Federal High Court in Abuja on Wednesday as a prosecution witness disclosed that a commercial bank filed suspicious transaction reports linked to former Attorney-General of the Federation, Abubakar Malami, during an ongoing money laundering trial. The witness, identified as a compliance officer with Zenith Bank, testified before Justice Joyce Abdulmalik that the bank flagged several transactions associated with accounts connected to Malami and submitted reports in line with Nigeria’s financial compliance regulations. According to court proceedings, the Economic and Financial Crimes Commission (EFCC) is investigating alleged financial irregularities involving approximately N8.7 billion. Malami, alongside members of his family, has denied the allegations and pleaded not guilty to the charges. The prosecution witness explained that banks are legally...