The Federal High Court in Abuja has fixed June 4 for the arraignment of Halima Buba, the Managing Director and CEO of SunTrust Bank, over an alleged $12 million fraud.
Buba will be arraigned alongside the bank’s Executive Director and Chief Compliance Officer, Innocent Mbagwu.
The Economic and Financial Crimes Commission (EFCC) is accusing the two executives of conspiring to facilitate large cash payments beyond legal limits without going through a financial institution, in violation of Nigeria’s money laundering laws.
The duo was initially expected in court on Tuesday, but the arraignment could not proceed as they were absent.
During hearing on Wednesday, May 28, EFCC counsel Ekele Iheanacho, SAN, informed the court that the agency had not been able to serve the charges directly to the defendants.
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“My lord, the prosecution has not been able to serve the defendants,” Iheanacho said.
“Ironically, they are aware of today’s proceedings as their legal representatives are in court. My learned brother informed me earlier that they are willing to receive the service on behalf of their clients.”
Despite the willingness of the defence lawyers to accept the documents, Iheanacho said the EFCC preferred to follow the legal process for substituted service.
“We wish to comply with Section 382(5) of the Administration of Criminal Justice Act, 2015, which requires us to bring an application for substituted service by way of an ex parte application,” he explained.
He noted that both sides had agreed to shift the arraignment to June 4 to allow time for the application to be filed and processed.
After hearing from both parties, Justice Emeka Nwite granted the request and officially adjourned the matter to June 4. He also directed the EFCC to file the application for substituted service on or before May 29.