The prosecution, in Senate President Bukola Saraki’s trial for false asset declaration at the Code of Conduct Tribunal (CCT), closed its case yesterday after calling five witnesses.
But Saraki’s lawyers said they plan to move for a no-case submission.
Lead prosecuting lawyer Rotimi Jacobs (SAN) announced the closure of the prosecution’s case after its fifth witness, Bayo Dauda, a bank official concluded his testimony at yesterday’s proceedings.
Led in evidence by Jacobs, Dauda told the tribunal Saraki obtained loans from GTB three times between 2006 and 2010. He said Saraki got the first loan of N380 million in October 2006, the second of N380 million on January 30, 2007 and the third, of N375 million on February 10, 2010.
Jacobs, who said Dauda was subpoenaed, tendered a copy of the subpoena served on him and Saraki’s bank opening package at the tribunal, which it admitted as evidence.
The witness said he was Saraki’s account officer. He said Saraki, as Kwara State governor-elect, opened the account with the bank in April 2003.
Dauda, who read from a bundle of bank documents earlier tendered by the prosecution as exhibits, said Saraki got the second loan of N380 million for the purpose of buying property in London, the United Kingdom.
He said Saraki used part of the loans to buy property at 17A and B Mcdonald Street, Ikoyi and for purchase of property in London.
“There were three loans offered to the defendant. The first one was N380 million granted on October 11, 2006. The next one was N380 million granted on January 30, 2007. The third one was N375 million granted on February 10, 2010.
“On October 16, 2006 there was a credit of N380 million loan to the customer. It was utilised by issuance of various drafts to purchase properties. The drafts were in favour of the Implementation Committee of the Federal Government Landed Properties.
“On February 5, 2007, there was a loan disbursement of N380 million. Another draft of N180,675,000 was issued to Committee on Implementation Federal Government’s Landed Properties,” he said.
Dauda, who read from a document marked Exhibit 48, which was document showing the terms of repayment of the second loan of N380 million, said, “the terms of repayment was five equal quarterly instalments of N76 million plus interest accrued.
“From the statement of account, the first quarter repayment was on May 2, 2007 and the amount was N81,309,589. As of July 29, 2007, he had paid (principal and interest) total sum of N81,309,589. N76 million representing the quarterly principal repayment, while the remaining was the interest,” he said.
The witness added that by June 29, 2007, N63,740,637.85 had accrued on Saraki’s account as “part of interest capitalised on the loan”.
He said as of the time, there was still an outstanding from the principal loan yet to be repaid by Saraki.
When asked how Saraki repaid the loans, Daudu said: “The loans were repayment via cash lodgment, cheque deposits, transfers and different warrants from his shares were paid into the account.”
When asked to produce Saraki’s transfer instructions and other documents relating to foreign transfers, the witness said: “We have not been able to find them. We checked everywhere, but we cannot find them. We even went to our archive in Akure, we could not find them.”
While being cross-examined by Saraki’s lawyer, Dauda admitted he originally understood that the funds transferred abroad were for the purpose of purchasing property, but only realised from the documents shown to him in the witness box that the transfers were for “mortgage redemption”.
He agreed there was no legal limit to what a customer could deposit in his or her account, but that he only meant to say that some of the cash lodgments made by Saraki were above the threshold, which the bank was under obligation to report to relevant authority.
The prosecution’s case against Saraki include breaches of asset declaration, to the effect that he, while being a public officer, operated bank accounts outside Nigeria and failed to declare the foreign accounts to the Code of Conduct Bureau as governor and senator during the period.
Saraki is also accused of failing to declare the loan, which he allegedly obtained from GTB while a governor, and that he allegedly transferred £1,516,194.53, which was then an equivalent of one of the loans, to his account with Fortis Bank, London, for the purchase of an “undisclosed property” in London.
At the conclusion of Dauda’s testimony, Jacobs informed the tribunal the prosecution was done with its case.
Asked when the defence would open its case, a lawyer in the defence team, Paul Erokoro (SAN), said the defence would file a no-case submission. He said his team would first, file a formal application, requesting the tribunal’s record of proceedings before filing the no-case submission.
CCT Chairman Danladi Umar directed the tribunal’s Registry to put the records of proceedings together within two weeks.
He asked the defence to, within one week, file its written address in support of the no-case submission, while the prosecution would respond within one week after being served.
He adjourned to June 8 for the adoption of the no-case submission.
