Badeh Owns Iyalikam Nig. Ltd – Witness Insists

Mrs Esho Fadeke, a prosecution witness in the ongoing trial of Air Marshal Alex Badeh (rtd), at a Federal High Court in Abuja, Thursday, insisted that Iyalikam Nig. Ltd account belongs to Badeh.
It could be recall that Badeh has earlier denied the knowledge of operating any company call Iyalikam Nig. Ltd.
Fadeke said due process was followed in opening the account.
Continuing from where she stopped Wednesday, the witness said the signature contained in the mandate given by the company to the bank stated that either of the company or owner of the company can sign.
The witness produced exhibits marked ‘E 25 and E 30’ known as the mandate given by the company to the bank of who should be signatory to the account.
The witness also said that the mandate does not contain email transaction but direct user’s telephone instruction.
Fadeke who is a staff of Gauranty Trust Bank, and an account officer to Iyalikam Nig. Ltd, the second defendant, made this statement while being crossed examined by the second defendant counsel, Mr. Samuel Zibiri.
According to the witness, there is a telephone number on the mandate card, use in contacting the authorised signature of the account holder.
“The mandate card is a document in the account opening package as to whether telephone instruction can be received.
“I acted according to the standard procedure of the bank of every transaction”
When asked if she was with the standard procedure document, she said she didn’t because “I was not asked to come with it.
Wednesday, Fadeke told the court that the bank transferred N48m from the company’s account.
She said Badeh, who had denied knowledge of operating the company, gave instructions for the transfers of the money.
According to her, the second defendant- Iyalikam Nigerian Limited’s account, was opened in 2005 by Mary I. Badeh.
Mrs Fadeke said N40. 7m was deposited into Iyalikam Nigeria Limited account on July 2013 by order of Bamuba Global Resource. The account also received N3m credit deposit on October 18, 2013 by one Enyi Jonathan. It received N6m transfer sent by Nonaway Nigeria Limited while the sum of N40m was deposited in the account by Prime touch Insurance on 23 April 2015.
Under cross-examination by the defence counsel, Akin Olujimi (SAN), Fadeke said that Iyalikam Nigeria Limited was opened at Garki branch of GTB in 2015.
The witness said that Olorun Femi who handled the opening of the account has left the bank and that she believe he is still alive as she had not heard any news of his death.
She confirmed that at the time of the opening Alex Bahed was not a signatory to the account.
She said the N30m transfer was under the written instruction of Badeh and that the N10m and N8m were transferred based on telephone instructions. The witnessed insisted that telephone instructions were valid instructions as in this case they were backed by verification via an e mail sent to the Ist defendant -Badeh.
Badeh and his company were arraigned before Justice Okon Abang court by the Economic and Financial Crimes Commission [EFCC] over alleged N3.97bn fraud.

Author: News Editor

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