Zenith Bank Compliance Officer Testifies on Suspicious Transactions in Malami’s N8.7bn Money Laundering Trial
On Wednesday, May 13, 2026, the Fourth Prosecution Witness (PW4) in the ongoing trial of former Attorney‑General of the Federation and Minister of Justice, Abubakar Malami, appeared before Justice Joyce Abdulmalik of the Federal High Court, Maitama, Abuja. The witness disclosed that Zenith Bank Plc, where Malami maintained an account, had filed a Suspicious Transaction Report (STR) in respect of his financial dealings.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Malami, his wife Hajia Bashir Asabe, and his son Abubakar Abdulaziz Malami, on an amended 16‑count charge. The charges border on conspiracy, procuring, disguising, concealing, and laundering proceeds of unlawful activities amounting to ₦8,713,923,759.49 (Eight Billion, Seven Hundred and Thirteen Million, Nine Hundred and Twenty‑Three Thousand, Seven Hundred and Fifty‑Nine Naira, Forty‑Nine Kobo), contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
The witness, Mashelia Arhyel Bata, a compliance officer with Zenith Bank Plc, made the revelation during cross‑examination by defence counsel, Adebayo Adedeji, SAN. When asked whether the deposits reflected in the account statements complied with Central Bank of Nigeria (CBN) guidelines, Bata confirmed they did, but added: “We had to file a Suspicious Transaction Report. We did file.”
During re‑examination, prosecution counsel J.S. Okutepa, SAN, sought clarification on the meaning of a Suspicious Transaction Report. Defence counsel objected, arguing that the testimony was clear and required no further explanation. Okutepa countered, relying on Section 215(3) of the Evidence Act, and urged the court to permit the question for proper elucidation. Justice Abdulmalik overruled the objection and allowed the witness to respond.
Explaining, Bata stated: “Any deposition of funds seen in a pattern or repetitive, you must escalate it to the NFIU.” He identified the Nigerian Financial Intelligence Unit (NFIU) as the autonomous arm of the CBN responsible for analysing and disseminating financial intelligence reports to combat money laundering and terrorism financing.
Bata further clarified that his role as compliance officer involved receiving correspondences from law enforcement agencies. He was neither the account officer nor the relationship manager for Malami’s accounts under investigation. With no further questions from counsel, the witness was discharged.
Justice Abdulmalik adjourned proceedings to May 22, 2026, for continuation of trial.
