SunTrust Bank CEO, Halima Buba and Director, Harmless Mbagwu charged with $12 cash laundering
Halima Buba, the chief govt officer of SunTrust Bank Nigeria Restricted, has been arraigned by the {Economic} and {Financial} Crimes Fee, EFCC, over alleged fraud.
Buba, alongside the {bank}’s Government Director and Chief Compliance Officer, Harmless Mbagwu, have been on Friday docked earlier than Justice Emeka Nwite of the Federal Excessive Courtroom, Abuja for the alleged crime.
The defendants are being prosecuted on a six-count cost bordering on cash laundering to the tune of $12 million (Twelve Million {Dollars}).
Depend two of the cost reads: “That you simply, HALIMA BUBA, Managing Director/Chief Government Officer SunTrust Bank Ltd, and INNOCENT MBAGWU being the Government Director /Chief Compliance Officer SunTrust Bank Ltd on the tenth day of March, 2025 in Abuja throughout the jurisdiction of the Honourable Courtroom aided Femi Gbamgboye to make a money fee of the sum of Three Million United States {Dollars} ($3,000,000) to Suleiman Muhammed Chiroma and associates with out going via a {financial} establishment and thereby dedicated an offence opposite to Part 2l(a), 2(1), 19(l)(d) of the Cash Laundering (Prevention and Prohibition) Act, 2022 and punishable beneath Part 19 (2) (b) of the identical Act.”
Depend three reads: “That you simply, HALIMA BUBA, the Managing Director/Chief Government Officer of SunTrust Bank Ltd and INNOCENT MBAGWU, the Government Director/Chief Compliance Officer of SunTrust Bank Ltd on the thirteenth day of March, 2025 in Lagos throughout the jurisdiction of this Honourable Courtroom conspired amongst yourselves to make a money fee of the sum of Three Million United States {Dollars} ($3,000,000) to Mukhtar Miko an affiliate of Suleiman Muhammed Chiroma with out going via a {financial} establishment and thereby dedicated an offence opposite to Part 2l(a), 2(1), 19(1)(d) of the Cash Laundering (Prevention and Prohibition) Act, 2022 and punishable beneath Part 19 (2) (b) of the identical Act.”
They pleaded “not responsible” to all the costs once they have been learn to them, following which the lead prosecution counsel, Rotimi Oyedepo, SAN, introduced the readiness of the prosecution to proceed with the trial and prayed for accelerated listening to of the case.
The defence counsel, J.J. Usman, SAN, on his half, reminded the courtroom of subsisting bail purposes of the defendants, dated Might 27, 2025, and prayed that the courtroom ought to uphold the purposes and admit the defendants to bail.
The prosecution counsel, in his response, described the Might 27, 2025 bail software of the defendants as incompetent, provided that the defendants have been neither beneath arrest, nor in detention, nor had appeared earlier than the courtroom — being the grounds offered by the Administration of Prison Justice Act, ACJA — that ought to precipitate a bail software. He famous that the applying was made “from the consolation of their houses or workplaces” when no motion had been taken towards them. He subsequently prayed the courtroom to discountenance the stated bail software and urged the defendants to make contemporary bail purposes in courtroom.
Whereas the place of the prosecution met opposition from the defence, Justice Nwite, nonetheless, admitted the defendants to bail within the sum of N100 million (One Hundred Million Naira) every, in addition to one surety every in like sum. The sureties, he held, will need to have landed properties in Abuja, the particulars of which have to be deposited with the courtroom. The sureties are additionally to deposit their passports and two latest passport images with the courtroom. As well as, all of the paperwork the sureties offered, together with their residences, have to be verified by the courtroom earlier than approval.
He ordered that they need to be remanded in a correctional facility pending the fulfilment of their bail situations and adjourned the matter until July 17 and 18 for continuation of trial.
