N8.7bn Fraud Trial: Banker Testifies on Large Inflows into Accounts Linked to Malami, Family

In a significant development in the ongoing N8.7 billion fraud trial, a compliance officer from Zenith Bank Plc, Mashelia Bata, has provided crucial testimony regarding substantial financial inflows into bank accounts connected to former Attorney-General of the Federation, Abubakar Malami, and his family members. Mr. Malami, along with his wife and son, faces charges of money laundering and conspiracy to conceal proceeds of unlawful activities, which allegedly were used to acquire properties across Nigeria. The testimony before the Federal High Court in Abuja detailed how billions of naira moved through various companies linked to the defendants, including Rayhaan Hotels Limited and Nashab Limited. The prosecution presented account statements as evidence, painting a picture of extensive financial transactions. This testimony is a pivotal moment in the Economic and Financial Crimes Commission's (EFCC) case, aiming to substantiate the allegations of illicit financial dealings and property acquisition. For Nigerians, this trial touches upon critical issues of accountability and the fight against corruption within the highest levels of government, with many watching closely to see if justice will be served.

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there were transfers within that period.