“I Paid $3 Million into Aisha Achimugu’s Company Account” – EFCC Witness Tells Court

An Economic and Financial Crimes Commission (EFCC) witness, Trinity Usman, on Friday told the Federal High Court in Abuja that he received and transferred $3 million into the account of Oceangate Engineering Oil & Gas Ltd, a company owned by Mrs. Aisha Achimugu.

Usman, who appeared as the second prosecution witness (PW-2), made the disclosure while being led in evidence by EFCC counsel, Ekele Iheanacho, SAN, before Justice Emeka Nwite. The testimony came during the ongoing trial of Halima Buba, Managing Director of SunTrust Bank, and Innocent Mbagwu, the bank’s Executive Director and Chief Compliance Officer. The duo are facing money laundering charges amounting to $12 million.

According to the EFCC, Buba and Mbagwu allegedly facilitated large cash transactions without routing them through a financial institution, in violation of the Money Laundering (Prevention and Prohibition) Act, 2022. They were arraigned on June 13, 2025, and pleaded not guilty. Both were granted bail in the sum of ₦100 million each, with one surety in like sum.

Usman, a Bureau De Change (BDC) operator, said he handled the transaction through one of his companies, Triple A and Tee Oil and Gas Nigeria Ltd. “Sometimes in April 2025, one Suleiman Ciroma contacted me that he needed $3 million to be transferred to Oceangate Engineering Oil & Gas Ltd,” Usman told the court. “After we agreed, Ciroma gave me the cash, and I paid the dollars into Oceangate’s account.” He said the payment was made in four tranches but could not recall the exact dates.

Usman also revealed that his BDC license had been suspended at the time, prompting him to use his oil and gas company account for the transaction. When asked if he knew the defendants, Buba and Mbagwu, Usman replied, “No.”

During cross-examination, Buba’s counsel, Johnson Usman, SAN, confirmed that the witness’s BDC firm, Triple A and Tee BDC Ltd, still operates and has received approval in principle from the Central Bank of Nigeria (CBN). Usman admitted that the decision to use his oil and gas account for the transfer was his own and that he did not inform the defendants that his BDC license had been suspended. He also confirmed making a profit from the transaction.

Counsel for the second defendant, M.S. Ibrahim, SAN, asked whether the witness had ever communicated with the defendants before or during the transaction. Usman answered in the negative.

Earlier, another EFCC witness, Suleiman Ciroma, owner of Funnacle BDC Ltd, testified that Mrs. Achimugu requested the transfer because depositing the cash directly in the bank would have restricted her ability to move the funds. Ciroma said the funds were intended for the purchase of two oil blocks, adding that he coordinated the transaction through other BDC operators who remitted the dollar equivalent—minus their charges—into Oceangate’s account.

He also confirmed that he never met or communicated with the defendants, and that his BDC license had expired at the time of the transactions.

Justice Nwite adjourned the case to December 10 and 11, 2025, for continuation of trial.