Witness confesses to helping Metuh with $2 million transfer

Two witnesses brought before a Federal High Court in Abuja by the Economic and Financial Crimes Commission have told the court how the spokesperson of the Peoples Democratic Party, Olisa Metuh, and his company, Dextra Investments Limited, transferred the sum of $2million allegedly collected from the office of the National Security Adviser, Sambo Dasuki.

The first prosecution witness, Nneka Ararume, a wealth manager dealing in management of equities, fixed income instruments and real estate, said she collected the sum of $2million dollars from Mr. Metuh sometime in December 2014.

She explained further that she went ahead to change the money to its Naira equivalent through two bureau de change operators she engaged.

She said, "He gave me the sum of $2m in $100 bills. It was taken to bureau de change operators who would then transfer the money to ARM. From there , I proceeded to Mr. Sie Iyenome's office at Wuse 2 where I gave him the sum of $1m.

"I also invited Mr. Kabir Mohammed and I also gave him the sum of $1m to transfer the naira equivalent in favour of Destra Investment Limited. Later on the same day, December 2, 2014, Mr. Kabir and Mr. Sie Iyenome confirmed the receipt."

She said she changed the dollars into Nigerian currency and had it transferred to Mr. Metuh's account.

The second witness, a bureau de change operator, said he had the sum of $1 million dollars exchanged to N183 million and transferred to the account of Dextra Investments Limited.

He however said he had no knowledge of either Mr. Metuh or his company, Dextra investment Limited, before that time.

Mr. Metuh is standing trial for allegedly collecting N400 million from Mr Dasuki's office.

My role in Metuh’s money transfer — Witness

Meanwhile, one of the BDC operators that helped Metuh to change the $2m, Mr. Sie Iyenome, also testified before the court yesterday. Iyenome told the court that though he did not have any personal dealings with Metuh; he had transactions with his company, Destra Investment Limited, through the PW-1.

He said: “My lord on December 2, Nneka Ararume called me that she has $1m dollars to sell. I asked her who is selling and she told me that it was her client at ARM. At that time, she did not disclose her client’s identity to me. We then agreed on a rate, N183 per dollar. I called in Capital Investment & Trustees, which also runs a BDC and they said they were interested and paid for $500, 000.

“The second $500, 000 was sold to Etionye, another BDC operator and he paid N92m into Destra’s account.

“The first transaction which was in tranches, amounted to N91m, while the second one was N92m. The whole transaction totalled N183m. Typically, the lower currency which is the Naira, will be paid first to the beneficiary’s account. After Nneka confirmed the receipt of the N183m, she brought the equivalent which is $1m.

“She brought it in cash; I then passed it to Capital Field Investment & Trustees. The role I played was that of a broker.”

Asked under re-examination if he was aware of the forex laws in Nigeria, the witness said: ‘Yes, my lord. I am aware of the law which says that we should sell a total amount of $4,000 for individuals travelling outside and $5,000 for business people”.

Justice Abang adjourned further hearing on the matter till today. The anti-graft agency had earlier informed the court that it had lined up 18 witnesses to testify against Metuh and his firm during the trial.

Among those to testify in the case are representatives of the Office of the NSA, representatives of Diamond Bank, Access Bank, Sterling Bank, First Bank, Heritage Bank, Nneka Nicole Ararume, Alhaji Abba Dabo, Mallam Kabiru Ibrahim, Olayinka Badejo-Okusanya of CMC Connect, Ahmadu Umar of Kwalaye Investment Limited, Theophilus Musa of Capital Fields Investment and six EFCC investigators.

Metuh begs court to vary bail conditions

Meanwhile, Metuh, yesterday, begged the court to vary his bail conditions, saying he could not meet the conditions which he said were too stringent. However, the court deferred hearing of the application after EFCC lawyer, who said it was only served on him yesterday, applied for time to file his response.

The court had on January 19, granted Metuh bail to the tune of N400m and directed him to produce two sureties who must deposit N200m each. Justice Abang stressed that the sureties must not only be residents in Abuja, but also own landed properties within the Maitama district of the FCT. The sureties are to submit the Certificate of Occupancy of the properties to the Chief Registrar of the court for verification, as well as submit their three years tax clearance.

According to the court, the sureties must swear to an affidavit of means and also submit two recent passport photographs.