Zenith Bank Files Suspicious Transaction Report on Malami

During a trial in the Federal High Court in Abuja, Mashelia Bata, a compliance officer at Zenith Bank PLC, testified that the bank filed a suspicious transaction report concerning former Attorney General Abubakar Malami. This report is linked to allegations of money laundering involving Malami's wife and son, with the total amount cited as 8.7 billion naira.

Malami faces 16 counts of charges related to money laundering, to which he has pleaded not guilty. Under cross-examination by defense counsel Adebayo Adedeji, Bata acknowledged that the deposits reflected in the account statements complied with Central Bank of Nigeria guidelines.

However, the bank deemed it necessary to file the suspicious transaction report due to unusual and repetitive deposit patterns. EFCC counsel Jibrin Okutepa sought clarification on the meaning of the suspicious transaction report, which the defense objected to, arguing it was ambiguous.

Justice Joyc Abdulmalik overruled the objection, directing Bata to explain the bank's actions. The matter was subsequently adjourned until May 22 for continued trial.