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EFCC to tribunal: $10,000 lodged into Saraki’s account 18 times, he authorised transfer of $3.4m to U.S. account through GTBank

Ibrahim Ahmadu by Ibrahim Ahmadu
April 6, 2016
in Breaking News, Legal
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An official of the Economic and Financial Crimes Commission (EFCC), Mr Michael Wetcast, on Wednesday, told the Code of Conduct Tribunal that $180,000 was lodged into Senator Bukola Saraki’s account.
Saraki is facing a 13-count charge bordering on allegations of false asset declaration and money laundering.
He had earlier pleaded not guilty to the charges.
At the resumed hearing of the case, the EFCC witness, who was led in evidence by prosecution counsel, Mr Rotimi Jacobs SAN, said the money was lodged by various individuals.
Wetcast said that Saraki himself lodged the sum of $30,000 as part of the total sum of 180, 000 dollars allegedly lodged into his account.
He said the sum of $50,000 was also lodged into Saraki`s account on June 12, 2009 by one Garba Dare.
“ My lord, on Aug. 24, 2009, the sum of $99.975 was lodged into Saraki’s account which was later transferred to a Bureau de change company by name Bin Dahuuh.

“ Also, on Aug. 26, 2009, the sum of $49.969 was lodged into the same account by TARLISE Properties and Investment Limited.’’

The witness also said that Saraki authorised a bank draft of N256.3 million in the name of the Committee on the Implementation of the Sales of Federal Government Landed Properties.

The tribunal admitted all the documents relating to the transactions into evidence.

Wetcast also revealed that Saraki authorised the transfer of $3.4 million to his U.S. bank account.
Wetcast said the defendant directed GTBank to transfer the funds to America Express Services, Europe Limited.
He said the money was later forwarded to Saraki’s bank account at America Express Bank in New York with registration number 730580 on August 25, 2008.
The witness said on November 5, 2005, $20,000 was lodged into Saraki’s GTB account at GRA Ilorin branch by one Bayo Dare and Abdul Adama.
The defence lawyer, Paul Usoro (SAN), did not object to the admissibility of the bank documents, but he reserves his arguments till later date.
Wetcast also said Saraki received salaries for four years after the expiration of his tenure as governor of Kwara State.

But the senate president in his reply to the evidence through a statement said‎ that since he left office in May 2011, his pension which was paid into a special account has been managed by a group of trustees and used for education endowment for students across the state.

A statement through the Director General of the Abubakar Bukola Saraki Constituency Office, Hon. Abdulwahab Isa, stated that the Senate President does not even have access to the account.

He said a group of trustees led by him were mandated to use the money in paying scholarship grants and funds for Joint Admission and Matriculation Board ((JAMB) forms for students across the state.

“We have also used the money to pay for coaching of students who were preparing for JAMB examinations. For example, the most recent beneficiaries from the funds were two University of Ilorin Faculty of Law students who were the best in their set and needed money for their enrollment into the Nigerian Law School”, he said.

Isa added that the funds from the pension account have been utilised in fulfillment of a pledge publicly made by Saraki to the people.

The Chairman of the Tribunal, Justice Umar Danladi, adjourned the case till April 18 for continuation of trial.

Tags: efccgtbanksaraki
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© 2026 Published by SWAAYA LIMITED, Plot 20, Block G, Scheme 1, Residential 3, OPIC Beachland Estate, Lagos/Ibadan Expressway, Lagos. Gabriel Akinadewo, MD/CEO 08023010222, 08094000056, 08052097814.