An operative of the Economic and Financial Crimes Commission (EFCC) Abubakar Madaki told a Federal High Court, Abuja on Tuesday that the Former Chief of Defence Staff, Air Chief Marshall Alex Badeh and his wife have over 1.7m shares in both First Bank and Zenith Bank suspected to have been bought through proceeds from crime.
Testifying Tuesday, Madaki said he was the head of a EFCC task force team that investigated a report from the Office of the National Security Adviser leading to the 10 counts money laundering instituted against Badeh and his company.
The EFCC investigator, who is the 19th prosecution witness in the ongoing trial of Badeh revealed how he and his wife got the shares
Led in evidence by Rotimi Jacobs (SAN), the witness told the court that Joseph Okpetu received N150,000 in dollar equivalent from Salisu Yishau the former Director of Finance to construct the building for Badeh in Yola.
Badeh is being prosecuted by the EFCC alongside a firm, Iyalikam Nigeria Limited, on a 10-count charge bordering on money laundering, criminal breach of trust and corruption to the tune of N3. 97bn.
He allegedly abused his office as CDS by using the dollar equivalent of the sum of N1.4bn removed from the accounts of the Nigerian Air Force to purchase properties in choice areas of Abuja between January and December, 2013. The offence contravenes Section 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.
The witness said:”In the course of interview with the first defendant claimed that the property in Yola was built with his hand earned money
“Investigation also revealed that Mr Okpetu is the Chief Executive Officer of Havoc Nigeria Limited which received over N500m from Nigerian Air Force
“Based on the information, we got the account details of the company where we got there we found out that he has relocated.
“We went to meet him armed with search warrant which enabled us to search his new house, in the presence of his wife
“During the search, we found out documents relating to the first defendant’s house in Yola
“Mr Okpetu confirmed that the sum of N150m was given to him to build a house for Badeh
“The following day we arranged for a meeting for him and Yishau. In the meeting Yishau mentioned that he remembered given Mr Okpetu the sum of N150m in two installment
“After that Mr Okpetu said it was a building plan from Asaka that Yishau asked him to construct the building
“Badeh now instructed that the cars kept in Ogun Rivers Street be removed.Before we got there there were no vehicles”
The witness also added that the sum of $1m was found in Badeh’s house at No 6 Ogun Rivers Street Maitama Abuja
Madaki added:”I ordered that the money be counted and it was exactly $15m.
“We then obtained the company’s account namely Prince and Princess in both First bank and Zenith Bank, we discovered that Badeh has over 700,000 shares while his wife has 1, 000,000 shares”
When the prosecutor sought to tender certified true copy of the bank details, .counsel to the first defendant, Chief Akin Olujimi (SAN), objected on the ground that the prosecution did not pay any certification fee on some of the said documents.
Chief Olujimi urged the court not to receive the documents with the prosecutor sought to tender in evidence.
After argument for and against the admissibility of the said documents and agreement of parties in the matter, the court adjourned till July 26, 2017, for continuation of trial.