MARGARETH CHIDERA
•Buba, co-defendant in court as EFCC seeks bail revocation
ABUJA, Nigeria — The Federal High Court in Abuja on Wednesday adjourned the trial of the Managing Director of SunTrust Bank Ltd, Halima Buba, and her co-defendant, Executive Director and Chief Compliance Officer of the bank, Innocent Mbagwu, to November 26.
Justice Emeka Nwite adjourned the matter to attend to other high-profile cases on his docket, while also noting that the National Judicial Council had recommended him and 11 other judges to President Bola Tinubu for appointment as justices of the Court of Appeal.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Buba and Mbagwu over an alleged $12 million fraud.
The defendants were arraigned on July 13, 2025, and admitted to bail of N100 million each, with one surety in like sum. The court also ordered them to deposit their international passports with the court registry.
At Wednesday’s proceedings, EFCC counsel, Ogechi Ujam, told the court that the matter had been adjourned for ruling on the commission’s application seeking the revocation of Buba’s bail.
The application followed allegations that Buba failed to return to Nigeria within the period approved by the court after she was granted permission to travel abroad for medical treatment arising from alleged pregnancy complications.
The EFCC had argued that the bank executive failed to comply with the court’s order after the approved period for her return expired.
However, Buba and Mbagwu were present in court on Wednesday.
Justice Nwite subsequently observed that the circumstances had changed and that the issue had effectively been overtaken by events since Buba had returned to court.
The EFCC counsel and Buba’s lawyer, Chief Johnson Usman, SAN, agreed with the judge’s observation.
Usman thanked the court for its indulgence and informed the judge that Buba had eventually given birth to twin boys.
Following the agreement of both sides, Justice Nwite adjourned the case until November 26 for continuation of trial.
The prosecution had earlier opened its case through its first witness, Suleiman Ciroma, who testified on July 17, 2025, about the alleged movement and swapping of $12 million through SunTrust Bank within 10 days.
Ciroma, while being led in evidence by EFCC counsel, Eke, testified that the defendants facilitated the release of the $12 million through branches of the bank in Abuja and Lagos.
The witness said that although he had never met Mbagwu one-on-one, they had communicated by telephone.
Ciroma also tendered a bundle of documents in evidence in support of his testimony.
