The Economic and Financial Crimes Commission on Monday opened its case with two witnesses against the National Publicity Secretary of the Peoples Democratic Party, Chief Olisa Metuh, in the charges of money laundering involving the sum of N400m which he allegedly collected from the Office of the National Security Adviser in November 2014.
The trial commenced with the testimony of an employee of Asset and Resource Management Company Limited, Nneka Ararume, who narrated how she collected a total sum of $2m cash from Metuh at his house in Prince and Princess Estate, Abuja.
Nneka Ararume said she received the money on behalf of Metuh’s company. .
Her words: “In December 2014, I received the sum of $2m in $100 bills for future investments in favour of Dextra Investments. We only have access to the funds when the client transfers money to us or when the client asks us to transfer money to them, we have all client’s account details on file.” .
Ararume who described her position with the company as Wealth Manager, said the instruction given to her by Metuh was that the money should be invested.
She explained further that she went ahead to change the money to its naira equivalent through two bureau de change operators she engaged.
She said, “He gave me the sum of $2m in $100 bills. It was taken to bureau de change operators who would then transfer the money to ARM. From there (Metuh’s house) 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 I also 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, Mr. Kabir and Mr. Sie Iyenome confirmed the receipt.
When examined Ararume also said she does not know precisely how long it took Metuh to accumulate the said sum. She added that Metuh was already running the portfolio as a client before she joined ARM in April, 2013. But before the witness came up on the witness box, the defense counsel filed for a variation of bail as the bail conditions given earlier could not be met. .
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The defense counsel, Onyeachi Ikpeazu had earlier informed the court about its pending application seeking for a variation. Ikpeazu also called for a stay of trial but was overruled by the judge, Okon Abang based on the fact that it was never raised at the comencement of trial.
The prosecution also called Iyenome as its second prosecution witness, who also narrated how he changed the $1m to its naira equivalent and paid it to ARM.
Both witnesses were cross-examined by the defence counsel.
Trial has been adjourned till tomorrow for the prosecution to call more witnesses.
The prosecuting counsel said he had 16 more witnesses.
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