Achimugu sought $12m cash swap through SunTrust bank to buy oil block – EFCC witness

Achimugu

Suleiman Ciroma, a witness for the Economic and Financial Crimes Commission (EFCC), has told the federal high court in Abuja how $12 million was exchanged in cash transactions at SunTrust Bank within 10 days.

Ciroma gave the narration on Thursday while being led in evidence by Ekele Iheanacho, counsel to EFCC, in the ongoing trial involving Halima Buba, the managing director and chief executive officer (CEO) of SunTrust Bank, and Innocent Mbagwu, the bank’s executive director and chief compliance officer.Ciroma, a businessman and former bureau de change (BDC) operator, confirmed knowing Buba and identified her in court but noted that he had never met Mbagwu in person—only spoken to him by phone.

He said the transaction began when Aisha Achimugu, a businesswoman, contacted him about conducting a forex exchange through the bank.

Ciroma said he called Buba, who confirmed she was aware of the arrangement.On the same day, the witness said a man named Iliya contacted him from the bank’s Abuja branch and said $1 million in cash was ready for collection.Ciroma said he sent an associate, Tijjani Adamu, to collect the money on behalf of Ashrap Ltd, a company owned by his friend, Hassan Dantani.

He added that on the same day, one Abdulkadir Mohammed picked up another $1 million, while a man identified as Kabiru collected $2 million—also in cash.

Ciroma told the court that the $12 million was converted and credited in tranches to Oceangate Energy Oil & Gas, a company he said is owned by Achimugu, through its Zenith Bank account.

According to him, he made a profit of N15 million from the entire transaction.

When asked about the purpose of the transaction, Ciroma said Achimugu told him she needed the funds to purchase an oil block.

He further testified that Buba coordinated the Abuja transactions while Mbagwu handled those in Lagos.