ABUJA—Star witness of the Economic and Financial Crimes Commission,
EFCC, Nneka Ararume, yesterday, narrated before the Federal High Court
sitting in Abuja how she helped the embattled National Publicity
Secretary of the Peoples Democratic Party, PDP, Chief Olisa Metuh, to
transfer $2 million into his company’s account.
The witness, who testified as PW-1, told the court that she is a
Wealth Manager at Assets & Resources Management, ARM, a company that
hitherto managed the asset portfolio of Metuh’s firm, Destra
Investments Limited.
EFCC had cited both Metuh and his firm as the 1st and 2nd defendants
in the seven-count charge bordering on alleged N400million fraud.
The anti-graft agency alleged that the PDP spokesman had in November
2014, received N400million from erstwhile National Security Adviser,
NSA, Col. Sambo Dasuki (retd).
The fund, which was withdrawn from an account the office of the NSA
operated with the Central Bank of Nigeria, CBN, was allegedly
transferred to Metuh through account no. 0040437573, which Destra
Investments Limited operated with Diamond Bank Plc.
EFCC insisted that whereas the fund was earmarked for campaign
activities of the PDP, Metuh diverted most of it to his personal use.
It alleged that Metuh converted part of the money to one million US Dollars which he used for his personal businesses.
Besides, Metuh was alleged to have transferred the sum of N21.7m to another chieftain of the PDP, Chief Tony Anenih.
In her testimony, yesterday, PW-1, Nneka, whose company specialised
in management of equities, fixed income instruments and real estate,
told the court that she received the $2m from Metuh at his residence in
Abuja.
She said the money was eventually changed to its Naira equivalent through two Bureaux de Change, BDC, operators.
The witness said: “In early December 2014, the 1st defendant, Metuh, called me to bring report regarding portfolio of ARM.
“When I got to his house at Prince and Princess Estate, there were
visitors in the living room, so I went to his home office and we
discussed the portfolio.
“Thereafter, he gave me the sum of $2m in $100 bills. It was taken to
bureaux de change operators who would then transfer the money to ARM.
From there, 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 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, Messrs Kabir and Sie Iyenome
confirmed the receipt. The $2m was in cash.”
The witness maintained that ARM was a duly registered organization
that deals in funds of its clients, saying the business the firm had
with Metuh and the BDC operators was based on trust.
Earlier, the court refused application by Metuh’s lawyer, Dr. Onyechi
Ikpeazu, SAN, for the matter to be adjourned till a later date to
enable him gather documents, including the bank account details of his
client, which he said would aid him to properly cross-examine the
witness.
In a bench ruling, yesterday, Justice Okon Abang agreed with the EFCC
lawyer, Mr. Sylvanus Tahir, that all the documents were duly
front-loaded by the prosecution in the proof of evidence before the
court.
“This court is a court of summary trial. It is for the defendant to
ask the witness questions based on her evidence, unless it does not have
questions for her.
“The defendant has been accorded all the privileges stipulated in
Section 36(6) of the 1999 Constitution. He has been given all the
facilities to prepare his defence,” he said.
Justice Abang said the court should not be blamed if Metuh was not able to meet his bail conditions.
My role in Metuh’s money transfer — Witness
Meanwhile, one of the BDC operators that helped Metuh to change the
$2m, Mr. Sie Iyenome, also testified before the court yesterday. Iyenome
told the court that though he did not have any personal dealings with
Metuh; he had transactions with his company, Destra Investment Limited,
through the PW-1.
He said: “My lord on December 2, Nneka Ararume called me that she
has $1m dollars to sell. I asked her who is selling and she told me that
it was her client at ARM. At that time, she did not disclose her
client’s identity to me. We then agreed on a rate, N183 per dollar. I
called in Capital Investment & Trustees, which also runs a BDC and
they said they were interested and paid for $500, 000.
“The second $500, 000 was sold to Etionye, another BDC operator and he paid N92m into Destra’s account.
“The first transaction which was in tranches, amounted to N91m, while
the second one was N92m. The whole transaction totalled
N183m. Typically, the lower currency which is the Naira, will be paid
first to the beneficiary’s account. After Nneka confirmed the receipt of
the N183m, she brought the equivalent which is $1m.
“She brought it in cash; I then passed it to Capital Field Investment & Trustees. The role I played was that of a broker.”
Asked under re-examination if he was aware of the forex laws in Nigeria,
the witness said: ‘Yes, my lord. I am aware of the law which says that
we should sell a total amount of $4,000 for individuals travelling
outside and $5,000 for business people”.
Justice Abang adjourned further hearing on the matter till today.
The anti-graft agency had earlier informed the court that it had lined
up 18 witnesses to testify against Metuh and his firm during the tria