A Compliance Officer with Access Bank Plc, Ikenna Nwegbu, has narrated to the Federal High Court in Lagos how a former Executive Director, Projects, Niger Delta Development Commission, Tuoyo Omatsuli, allegedly transferred the money paid into his company’s account to other private companies.
Omatsuli is standing trial alongside Don Parker Properties Limited, Francis Momoh and Building Associates Limited on 45 counts bordering on conspiracy and money laundering to the tune of N3.645bn.
According to the Economic and Financial Crimes Commission, Omatsuli conspired with the others “to disguise the illegal origin of a total sum of N3.645bn being proceeds of an unlawful activity, to wit: corruption and gratification.”
At the resumed hearing on Tuesday, Nwegbu told the court how over N3.6bn paid in by Starline Consultancy Services to Building Associates Limited’s account was transferred to private companies belonging to the defendants and other individuals.
He said, “Sometime in October 2016-2017, the Economic and Financial Crimes Commission requested that the bank should furnish it with the account opening documents and statements of accounts of two companies – Don Parker Properties Limited and Building Associates Limited – which we did.
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“Over N3.6bn was transferred from Starline into the Building Associates Limited’s accounts from 2014 to 2016 and the money was further transferred into different accounts ranging from Don Parker General Enterprise, Francis Momoh, the third defendant, Luxury Villa Group, Princely Estate, Front Project MP, Kofo NA Isa Investment, Buwa Construction, Botia Ventures, Liss Form Arc Limited, Forrest Shippers Limited, Front Energy Limited, Beks Kimse Nigerian Limited and Namuduka Ventures, Asilia.
“Don Parker Properties Limited, on its mandate form had the first defendant as the sole signatory to the account until March 31, 2017 when the mandate was changed, but while he was signatory to the account and as the Executive Director of Projects, Niger Delta Development Commission, he transferred various sums amounting to N728m from Don Parker Properties Limited to Building Associates Limited, Bul and Francis Momoh.”
Under cross-examination by Omatsuli’s counsel, Kehinde Amuda (SAN), Nwegbu told the court that when certain amounts hit a customer’s account that was over the limit, they report to security agencies.
This, he said, was done in this case.
The presiding judge, Justice Saliu Seidu, adjourned the case till June 25 and 26, 2019, for the continuation of trial. [PUNCH]
