EFCC witness insists Adoke’s $2.2m loan repayment transparent

A witness called yesterday by the Economic and Financial Crimes Commission (EFCC), Mr Rislanudeen Mohammed, told the Federal High Court, Abuja, that the $2.2 million transactions in respect of the liquidation of a loan obtained by former Attorney General of the Federation (AGF) and Minister of Justice, Mr Bello Adoke (SAN), was transparent.

The witness, a former acting managing director, Unity Bank Plc, gave the evidence at the resumption of cross-examination by Adoke’s lawyer, Chief Kanu Agabi (SAN).

The court had last month adjourned till yesterday for the continuation of the cross-examination of Mohammed who is the second witness of EFCC.

The anti-graft agency is prosecuting Adoke and a businessman, Mr Aliyu Abubakar, on 14 amended charges bordering on alleged money laundering and fraud. They, however, pleaded not guilty to the charges.

Mohammed had, in his evidence last month, told the court how Adoke obtained a loan of N300 million from the bank and the efforts he made before Adoke could pay back the loan.

He stated that the money was finally liquidated after Adoke handed him the $2.2 million and when converted to naira, it exceeded the principal loan.

But responding to questions from Adoke’s lawyer, Agabi, the witness further told the court that he did not report the transaction to the bank or relevant financial and anti-corruption agencies because the need did not arise.

Mohammed added that the $2.2million, upon its receipt from Adoke, was kept with the Abuja branch manager, Mr Nura Abdullahi, after which it was handed to a Bureau de Change operator, Alhaji Usman Bello for conversion to naira.

He testified that upon its conversion, the money was then paid into Adoke’s account with the bank and subsequently used to liquidate the loan.

“I am fully aware of all the transactions in respect of the loan payment. I did not report any suspicion to the bank, EFCC, ICPC, NFIU, and SSS because there was nothing suspicious.

“The bank did not reprimand me for the transaction because it was transparent and I acted as agent of the bank when I collected the money”, he said

The witness, however, said that there was no record of the transaction and that Adoke did not have a dollar account for the $2.2 million to be paid into.

Earlier, the former bank MD admitted that his wife and daughter are shareholders of the Bureau de Change that converted the $2.2 million into naira.

He also told the court that he knew nothing about the second defendant, Aliyu Abubakar.