Abubakar Umar, the sixth prosecution witness in the trial of former Benue State governor Gabriel Suswam, detailed before the Federal High Court in Abuja how he converted ₦3.1 billion sent to him by Suswam into $15.8 million, which he then delivered in cash to the ex-governor’s Maitama residence. The trial is presided over by Justice Peter Lifu, and Suswam, alongside former Commissioner of Finance Omodachi Okolobia, faces 11 counts of money laundering linked to proceeds from the sale of state shares.
Umar, a bureau de change operator and CEO of Fanffash Resources, explained during the trial that the sum was transferred in tranches by a proxy of Suswam, starting with ₦413 million on August 8, 2014. The total ₦3.1 billion was exchanged for dollars at a rate of ₦197 per dollar. Umar recounted delivering the money to Suswam’s residence after receiving instructions to convert the funds.
Umar also disclosed further transfers made to his account, including ₦637 million and ₦363 million on separate dates in September 2014, as well as additional amounts in October, all adding up to ₦3.1 billion. He stated that he had no receipts for the transactions but assured the court that the conversions were based on his business dealings with fellow currency traders.
