Wale Agunbiade Adewale, an account officer with Guaranty Trust Bank on Monday, 14th February 14, 2022, told Justice D. U. Okorowo of a Federal High Court sitting in Abuja of how $10,000.00 was deposited on each between 18 May 2015 to 21 May 2015.
Adewale was the first prosecution witness in the money laundering trial of James Richard Nolan, Goidel Resources and ICIL Limited.
The defendants are being prosecuted by the Economic and Financial Crimes Commission (EFCC) on a 16-count charge of money laundering linked to the $9.6bn Process & Industrial Development Gas Processing and Utilization contract scam.
The GTB staffer who handled the opening of the accounts for the companies informed the court that, sometime in August 2019 “we received a request from the EFCC to avail them with the account opening documents and statement of GOIDEL Resources, ICIL Ltd and P&ID Ltd. The account opening documents include Certificate of Incorporation, Memorandum and Article of Association, particulars of Directors and other means of identification.”
The documents were tendered by the prosecution as exhibits and admitted in evidence by the court.
The witness further told the court that the “signatories to the account domiciled in GT Bank were James Nolan and Isaac Ebubeogu in respect of Exhibit A, Goidel Resources. For ICIL, we have James Nolan, Loyd Quinn and Adam Quinn. For the coordinate account of P&ID, we have James Nolan.”
Asked to tell the court the nature of the transaction by Goidel Resources from 18 May 2015 to 21 May 2015, the witness stated that “the transactions on each of the mentioned days were a daily cash deposit of $10,000.”
He further disclosed that “On the 2nd of May, 2019, an inward transfer of $47,975.00 was received into the account of Goidel Resources from Industrial Consultant International.
“On 4 September 2014, the transaction of ICIL Ltd included cheque book issuance of $10,000 and a debit of $40,000 for reference salary payment for Neil and Elizabeth.
“On 1st September 2014, there were three inflows: $350,000 in favour of ICIL from Basale Enterprise, $50,000 from Baharudeen Farouk in favour of ICIL and an inflow of $10,000 from Farsman Investment Ltd.”
The witness said $125,000 was transferred from Nolan James to Goidel Resources Ltd on 1st February 2016. “There was a transfer of $125, 000 from Nolan James to Goidel Resources Ltd,” he said.
Justice Okorowo adjourned the matter to 15 February 2022, for cross-examination and continuation of the hearing.
