A compliance officer with Union Bank Plc, Mr Chidubem Ogbura, on Monday testified before the Federal High Court in Lagos in the ongoing prosecution of Friday Audu and three others over their alleged involvement in a multi-billion naira cryptocurrency and romance scam.
The case, presided over by Justice Daniel Osiagor, involves Audu, two Chinese nationals, Huang Haoyu and An Hongxu, and a company, Genting International Company Limited.
It would be recalled that the Economic and Financial Crimes Commission (EFCC) had accused them of masterminding a 792-member syndicate involved in cybercrime and romance fraud that allegedly defrauded victims of N3.4 billion.
Led in evidence by EFCC counsel, Bilkisu Buhari-Bala, Ogbura told the court that Audu was a signatory to the Union Bank account of Genting International, which was allegedly used to launder proceeds of the syndicate’s criminal operations.
According to the witness, his duties at the bank include handling compliance requests from regulatory agencies, including a 16 December 2024 request from the EFCC seeking information on the company’s account.
Ogbura presented account opening documents and statements related to Genting International, which the court admitted into evidence without objection.
During cross-examination, counsel for the second defendant, Clement Onwuenwunor (SAN), confirmed through the witness that Friday Audu and one Bafale Yakubu were listed as signatories to the disputed account.
The witness also noted that the names of the second and third defendants appeared in the account statements.
However, in response to questions from the third defendant’s counsel, Adeniyi Joshua, Ogbura clarified that the third defendant was neither a signatory nor a company director.
He also stated that the account was not opened to gain business, according to the bank’s Know Your Customer (KYC) documentation.
Following the conclusion of his testimony, the court discharged the witness.
Subsequently, Emeka Ukpoko (SAN), counsel for the first defendant, requested that the Nigerian Correctional Service furnish the court with a medical report on the second defendant, citing undisclosed health concerns.
The defendants were arraigned on a 12-count charge bordering on cybercrime, money laundering, and illegal foreign exchange dealings.
They all pleaded not guilty. According to the EFCC, the syndicate, in collaboration with a Chinese accomplice identified as Dualiang Pan, who remains at large, recruited Nigerian youths to impersonate foreign nationals to defraud victims globally.
The Commission alleged that the accused persons facilitated the retention of over $2.5 million in crypto wallets held by Nigerian collaborators, while N3.4 billion was laundered through Genting International’s Union Bank account.
They are also accused of transferring N106 million and N913 million to Pan’s UBA account and engaging in unregulated forex transactions totalling over N2 billion.
The offences violate key provisions of Nigeria’s foreign exchange, cybercrime, and anti-money laundering laws.
Justice Osiagor adjourned the matter until 4 July 2025 for the continuation of the trial.
