N29bn: EFCC tenders bank transactions by Nyako’s firm

AFederal High Court in Abuja has admitted bank transaction statements by the Economic and Financial Crimes Commission (EFCC) against a former governor of Adamawa State, Murtala Nyako.

Justice Okon Abang yesterday listed the Diamond Bank PLC local and foreign currency transactions of companies which the EFCC alleged were linked to Nyako.

Nyako was charged on 37 counts of conversion of public funds totaling over N29 billion to develop Hill View Estate in Mpape, Abuja through Amdak Investment Ltd, Tower Assets Management Ltd and Blue Opal Ltd.

Others charged with him are his son, Abdulaziz Nyako and his two aides, Zulfikk Abba and Abubakar Aliyu. Also charged are five companies, Blue Opal Limited, Sebore Farms and Extension Ltd, Pagoda Fortunes Ltd, Tower Assets Management Ltd and Crust Energy Ltd.

Nyako was alleged to have made several millions of naira payments to develop Hill View Estate through Amdak Investment Ltd, Tower Assets Management Ltd and Blue Opal Ltd.

Chinedu Ayogu, a compliance officer at Diamond Bank PLC in Abuja, read out the details of the transactions on the statement from the bank’s branch in Lagos under examination by EFCC counsel, Leke Atolagbe.

He said between May 2, 2013 and August 13, 2013 several amounts of money amounting to about N1.2 billion were paid into Crust Energy Ltd, Sentinel Exploration Ltd and Bellmark Enterprises. He said some of the funds were further converted into their dollar accounts with the bank.

Defence counsel, Salisu Maikyau (SAN), while crossexamining the witness, sought to know why he was presenting the documents in Abuja, and not in Lagos where the transactions took place, but the witness said the bank operates an electronic system and documents could be downloaded from anywhere. The case was adjourned to May 2 for further hearing.