The Chief Executive Officer (CEO) of Fanffash Resources, Abubakar Umar, has told the Federal High Court, Maitama, Abuja presided over by Justice Peter Lifu, how billions of naira in tranches were sent to his bank account on the instruction of former Governor Gabriel Suswam of Benue State.
He also gave details of how N3.1 billion was transferred to him by “a fair woman” and same converted to dollars in tranches which he delivered in person to Suswam at his Maitama, Abuja residence.
Umar is the Sixth Prosecution Witness in the trial of Suswam by the Economic and Financial Crimes Commission (EFCC).
He revealed that the transactions happened in 2014.
Details were revealed in a statement by Head, Media & Publicity of EFCC, Dele Oyewale, on Saturday.
Suswan, alongside his then Commissioner for Finance, Omodachi Okolobia, are facing 11-count amended charges of money laundering to the tune of N3.1bn, being part of the proceeds from the sales of the state government’s shares held on its behalf by the Benue Investment and Property Company Limited, sold through Elixir Securities Limited and Elixir Investment Partners Limited.
Umar, a bureau de change operator and CEO of Fanffash Resources, has been testifying on the matter since 2018, first, before Justice A.R. Mohammed and later Justice Okon Abang.
He disclosed that the N3.1bn was transferred to him by Suswam, through the woman, in tranches with the first tranche of N413m hitting his account on August 8, 2014 and the remaining, coming in later to hit N3.1bn.
Umar, while being led in evidence by prosecution counsel, Rotimi Jacobs (SAN), revealed that he had to change the N3.1bn to dollars, which he said amounted to $15.8 million at the rate of N197 to a dollar and delivered everything to Suswam in his Maitama, Abuja residence.
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“One day in 2014, when I was in the office, the former Governor of Benue State asked me to meet him in his house in Maitama, Abuja. I went and met him in the house together with one fair woman. He asked me to give the woman my account number. I gave the woman my Zenith Bank account number. The woman said she would send money into that account.
“On the 8th of August 2014, N413 million was transferred to my account. Based on this, I called the former governor and he told me to change the money to dollars and I asked him to give me time to do that. Three days after I bought the dollar equivalent, I called the former governor and informed him that the money was ready. He now asked me to take the money to his house in Maitama, near Jumat Mosque. I now told him that he should inform the security at the gate that I was coming. If not, they’ll not allow me access into the compound.
“I took a cab to the house. I knocked at the gate and they opened. I told them my name. They opened the first and second gates and I sat in the waiting room where he (Suswam) came and met me. I now brought out the money which we both confirmed to be the equivalent of the N413 million. The exchange rate then was N197.
“On the 12th of September 2014, N637 million was transferred to my account. After about 40 minutes, N363 million was also transferred to my account.
“On 13th October 2014, N630,000,008:50k (Six Hundred and Thirty Million, Eight Thousand and Fifty Naira) was also transferred to my account. On 17th October 2014, N1,068,000,000:00k (One Billion, Sixty-eight Million Naira) was transferred to my account. It is the woman that was directed by the former governor to do the transfers. The total money transferred to my account was N3 billion”.
Umar disclosed that he did not have receipts for the transactions.
“I buy dollars from fellow retailers and only record based on discretion”.
Justice Lifu adjourned the matter till October 4 for continuation of trial.
