A compliance officer with Union {Bank} Plc, Mr. Chidubem Ogbura, on Monday testified earlier than Justice Daniel Osiagor on the Federal Excessive Courtroom in Lagos because the ₦3.4 billion fraud trial involving Friday Audu and three others resumed.
The defendants are alleged to be a part of a cryptocurrency and romance fraud syndicate comprising 792 members, with the overall fraud amounting to ₦3.4 billion.
Taking the stand as the primary prosecution witness for the {Economic} and {Financial} Crimes Fee (EFCC), Ogbura revealed that Friday Audu was a signatory to the Union {Bank account} of Genting Worldwide Firm Ltd, one of many firms allegedly used to channel proceeds from the felony scheme.
Below direct examination by EFCC counsel, Bilkisu Buhari-Bala, Ogbura defined that his tasks as a compliance officer included responding to regulatory inquiries, such because the EFCC’s letter dated December 16, 2024, regarding Genting Worldwide Ltd. He offered the corporate’s account opening paperwork and {bank} statements, which the court docket admitted into proof with out objection.
Throughout cross-examination by Clement Onwuenwunor (SAN), counsel for the second defendant, the witness confirmed that each Friday Audu and Bafale Yakubu had been signatories to the mentioned account. He additional acknowledged that the second and third defendants’ names appeared within the {bank} statements.
Whereas responding to questions from Adeniyi Joshua, counsel to the third defendant, Chidubem clarified that the third defendant was neither listed as a director nor a signatory to Genting Worldwide Ltd. He additionally acknowledged that, primarily based on the {bank}’s Know Your Buyer (KYC) paperwork, the corporate’s account was not opened with the intention of “gaining enterprise.”
After his testimony, the court docket discharged the witness.
Following that, Emeka Ukpoko (SAN), counsel for the primary defendant, urged the court docket to direct the Nigerian Correctional Service to furnish a medical report for the second defendant, citing issues about his well being.
Justice Osiagor adjourned the case to July 4, 2025, for continuation of trial, throughout which extra EFCC witnesses are anticipated to testify.
Earlier, the EFCC had arraigned Friday Audu, Chinese language nationals Huang Haoyu and An Hongxu, alongside Genting Worldwide Ltd, on a 12-count cost bordering on cybercrime, cash laundering, and unauthorized international alternate transactions. All defendants pleaded not responsible.
In line with the EFCC, the accused individuals, together with one Dualiang Pan (at the moment at massive), ran a classy fraud community that used faux identities to rip-off victims. Nigerian youths had been reportedly recruited to impersonate foreigners, enabling the motion and concealment of illicit funds.
Investigators revealed that the syndicate maintained cryptocurrency wallets holding $1.2 million and $1.3 million, managed by Chukwuemeka Okeke, Alhassan Garba, and Ifesinachi Jacobs—funds believed to be proceeds of fraud.
Moreover, ₦3.4 billion was reportedly deposited into Genting Ltd’s Union {Bank account}, from which ₦106 million and ₦913 million had been traced to transfers into Dualiang Pan’s UBA account.
The group additionally allegedly engaged in international alternate transactions exceeding ₦2 billion, performed outdoors the Central Bank of Nigeria’s official platform.
The costs in opposition to them contravene:
Part 29(2) of the International Change (Monitoring and Miscellaneous Provisions) Act, 2004;
Sections 18 and 27 of the Cybercrime (Prohibition, Prevention, and many others.) Act, 2015; and
Sections 18(2)(d) and 21(c) of the Cash Laundering (Prevention and Prohibition) Act, 2021.
