Saraki transferred millions to foreign accounts – Witness

Aprosecution witness yesterday told the Code of Conduct Tribunal (CCT) that Senate President Bukola Saraki transferred millions of foreign currencies into undeclared foreign accounts while serving as governor of Kwara State.

Head of the Funds Transfer Unit of Guaranty Trust Bank (GTB), Nwachukwu Amazu, testifying as the second prosecution witness in the false and anticipatory asset declaration trial of the Senate President, said Saraki made several transactions, including a transfer of over $73,000 from his dollar account, maintained with GTB to his foreign account in the American Express Service Europe Ltd. He added that the purpose of the $73,000 transfer was to fund a foreign credit card (with dollar credit card No. 374588216836009), belonging to the American Express Bank and owned by the defendant. He however added that he does not know how the card operates when asked to explain its mode of operation.

He said Saraki transferred the total sum of £1,526,194.53 from his pounds sterling account with GTB to his Fortis Bank, London account in three instalments within two days on February 15 and 16, 2010. He added that Saraki instructed GTB to transfer the pounds sterling equivalent of the N375 million loan he got from GTB to Fortis Bank to fund mortgage on a London property.

Led in evidence by prosecuting counsel, Rotimi Jacobs (SAN), the witness said the Saraki transferred funds to his foreign accounts between 2009 and 2012. He also confirmed that Saraki was keeping dollar, pounds sterling and naira accounts domiciled in the Ilorin, Kwara State branch of GTB. He said Saraki transferred over $3m from his dollar account to his foreign account during the period.

However, under crossexamination by the defense counsel, Paul Usoro (SAN), Amazu said the issuer of Saraki’s credit card was not a bank, contrary to his earlier testimony that an operator of a credit card must have a bank account. He also said he did not know much about the documents he testified on. “I don’t know what the issues in the documents are. The prosecution was only asking me questions and I was responding”, he said.

He explained that the “mortgage redemption” for which Saraki transferred the £1.5m to a foreign account meant payment for house purchase. He however admitted that he did not have deep knowledge on mortgage. He also said he did not have knowledge of the relationship between Saraki and Fortis Bank as well as the American Express Europe Limited and American Express Europe Bank.

The trial continues today with further cross-examination of the witness.