How I Converted N2. 8bn to Dollars for Badeh – Witness

The 11th prosecution witness in the on-going trial of former Chief of Air Staff (CAS), Air Vice Marshal Alex Badeh (retd), Alhaji Faruk Suleman, told the court Tuesday that he exchanged naira for dollars for Badeh in over a period of two years.
The witness, a business man and owner of ‘Gogori Holding Bureau De Change’, a subsidiary of ‘Farsman Nig Ltd’, whose duty is to sell foreign exchange, told Justice Okon Abang of the Federal High Court, Abuja that in the course of his business and as the President of the Association, converted some amount of money for the former Air Force Chief.
Faruk further stated that earlier in 2012, one Emmanuel Abu, an officer of the NAF and a second prosecution witness, contacted him on phone and after negotiation the sum of N10m was credited into his Zenith Bank account for exchange.
The witness also in his testimony said that between 2012 and 2014, a number of transactions were performed, and he received through his Zenith Bank account ‘Farsman Holdings’ the sum of N2.8bn from Abu whom he later credited after sourcing for foreign exchange.
Led in evidence by counsel to the Economic and Financial Crimes Commission, Faruk told the court that he used ‘Gogori Bureau de Change’ to receive naira from the NAF Chief, after which the dollar equivalent would be returned through one of his staff to Abu in his office at Sani Abacha Barracks. He also added that at no time was there report of undelivered dollar from his staff to the officer.
The witness who could not recall the exact day his interaction commenced with Badeh when cross examined by counsel to the first defendant, Chief Akin Olujimi (SAN), claimed to be a co-director of ‘Farsman Holdings’ alongside Farsman BDC, Farsman investment Ltd, Farsman Communications Ltd.
He also told the court that he is currently not in a position to give a breakdown of the converted N2bn, as he was not prepared for such analysis.

Author: News Editor

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