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The Economic and Financial Crimes Commission (EFCC) has charged Halima Buba, the Managing Director (MD) of SunTrust Bank Limited (Ltd.) alongside the bank’s Executive Director, Innocent Mbagwu for making illegal cash payments worth $12 million which breaches the Money Laundering (Prevention and Prohibition) Act of 2022.
The defendants were scheduled to be arraigned before Justice Emeka Nwite at the Federal High Court in Abuja on Tuesday, May 27 for money laundering charges.
However, the case was postponed because both defendants failed to appear in court.
The EFCC accused Buba and Mbagwu were involved in facilitating unauthorized cash transactions amounting to $12 million, which violates specific provisions of the anti-money laundering law.
During the court hearing, EFCC’s counsel, Ekele Iheanacho, a Senior Advocate of Nigeria (SAN) informed the court that the defendants had not yet been formally served with the charges.
He said, “The prosecution has not been able to serve the defendants. Ironically, they are apparently aware of today’s proceedings as their legal representatives are in court.
“My learned brother silk friend informed me earlier that they are willing to receive the service on behalf of their clients.
“We do not oppose this but we wish to comply with Section 382(5) of the Administration of Criminal Justice Act (ACJA), which requires us to bring an application for substituted service by way of an ex parte application.
“This can be taken before the next adjourned date, and both parties have agreed that the arraignment can be rescheduled for June 4, 2025.”
Iheanacho then asked the court to adjourn the case.
Adding that, “Subject to the court’s convenience, we are seeking June 4 for arraignment.”
However, the defendants lawyer, J.J. Usman (SAN), confirmed that his clients had not received any official notification and only learned about the court appearance through reports on social media.
He said, “Our clients instructed us to appear in court because they read about the case on social media. They have not been served.
“We approached the learned silk for the prosecution and undertook to accept service on behalf of our clients.
“We asked him to serve us, but he refused.
“My lord has made several orders in similar matters allowing service through legal representatives.
“We are here and are pleading with the court to direct that service be effected on us.
“We are ready to appear with our clients on the next adjourned date.”
Usman also raised concerns that the EFCC might attempt to arrest and publicly parade the defendants if they were not served through legal channels, which he argued would be prejudicial and unfair.
However, Iheanacho dismissed these concerns as speculative and premature.
He further stated that, “The court cannot make that order now until a formal application is brought.
“The fear expressed by the defence is speculative.
“The court does not dwell on speculation.
“We do not want to create a landmine where the issue of service could later become a basis to challenge the jurisdiction of this Honourable Court.
“It is better to make haste slowly, as over-speeding kills. Until the court grants substituted service, the prosecution reserves the right to arrest the defendants if found.”
After hearing from both parties, Justice Nwite adjourned the case to Wednesday, June 4 for arraignment.
He also instructed the prosecution to file a request for substituted service by Thursday, May 29.
The Street Journal
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