The Money Laundering Trial against PDP spokesman, Olisa Metuh began yesterday Monday, 25th Jan. at the Federal High Court, Abuja with the prosecution calling 2 of its witnesses.
The First witness, Nneka Ararume who is an employee of ARM (Asset Resource Management) admitted collecting the sum of $2 million cash from the PDP spokesman on December 2, 2014 from his house at prince and Princess Estate, Abuja with an instruction to invest the said amount in the name of his company –Destra Investments Limited.
Nneka who was put in charge of managing Olisa Metuh’s investment company-Destra Investments said after collecting the money, she converted it into cash with the assistance of two bureau de change operators.
In the evidence led by lead prosecution lawyer, Sylvanus Tahir, the witness Nneka Ararume said: “Metuh gave me the sum of $2m in $100 bills. It was taken to bureau de change operators who would then transfer the money to ARM. From there (Metuh’s house), I proceeded to Sie Iyenome’s office at Wuse 2 where I gave him the sum of $1m.
Going further she said “I also invited Mr. Kabir Mohammed and I also 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, Kabir and Sie Iyenome confirmed the receipt.”
An adjournment was sought by the defense after Nneka finished her testimony.
When cross examined by the defense lawyer, Onyinyechi Ikpeazu (SAN) Ararume noted that prior to her being employed in 2013 by ARM; Destra Investments had been ARM’s client.
Sie Iyenome, one of the bureau de change operators when brought in to testify as the second witness, said, he never knew Metuh but knew his company’s name, Destra as a result of the transaction dealing he had with Nneka when she forwarded the company’s details to him to transfer the naira equivalent of $1m he received from her on December 2, 2014.
The witness, when cross-examined, said he believed he was carrying out “a valid transaction”, he also told the court that it was practice in the foreign exchange business to ask for the purpose which funds brought by customers were meant for.
“This was a brokering transaction. I’m not the one using the dollar. Even at that I asked who was selling and Nneka said it was her client at ARM, which is as good as a bank selling to you, Iyenome said.
While being re-examined by Tahir, Iyenome confirmed that there was a limit imposed by law as to how much cash a bureau de change operator could transact with.
“I am aware of some. I can’t name all of them. I’m aware that to sell to an individual travel ling outside the country, the limit is $4,000, and for a business, the limit is $5, 000,” Iyenome said.
The Judge had earlier rejected a move by Ikpeazu to prevent the commencement of the trial; his application for adjournment was refused to enable the defense team prepare for the trial.
Also, the judge refused Ikpeazu’s request that his application for the variation of his client’s bail condition be heard. Ikpeazu had told the court that his client was yet to meet the conditions attached to the bail granted him.
In a ruling, the judge said the application was not ripe for hearing, he therefore adjourned further trial till today Tuesday 26, 2016 and fixed tomorrow Wednesday 27, 2016 for the hearing of Metuh’s application for the variation of his bail.
