The Economic and Financial Crimes Commission (EFCC) has queried a man, Iyename Osie for changing $1 million for the national publicity secretary of the People’s Democratic Party (PDP), Olisa Metuh.
During the trial of Metuh at the Federal High Court in Abuja on Monday, January 25, Osie, a Bureau De Change operator who stood in as Prosecution Witness 2 (PW2) said $1 million was sold to him at the rate of N183 per dollar by Metuh.
Osie said $500,000 was sold to Capital Investment and Trustees, a Lagos based BDC while the remaining balance of $500,000 was sold to one Etionye at N92 million and N91 million respectively.
He said the money totalling N183 million was paid into to the account of Metuh’s company, Dextra Investment Limited after the first witness, PW1, Nneka Ararume forwarded the account details to him on Wednesday, December 2, 2015.
On Osie’s revelations, counsel to the EFCC, Onyeachi Ikpeazu who crossed examined him asked the PW2 if he was aware of foreign exchange policies.
While answering no to the question thrown to him by the prosecuting counsel, a confused Osie was further explained that he is aware that there is a threshold of $4,000 transaction for individuals and $5000 for business or cooperate transactions.
Following the end of the cross examination of the PW2, the judge over the case, Okon Abang adjourned the matter to Tuesday, January 26 for continuation of trail.
Metuh, who is currently in Kuje prison custody is standing trial for corruption and money laundering charges.
He was granted N400 million bail by Abang and subsequently N300 million bail and two sureties in like sum by Justice Ishaq Bello of an Abuja High for shredding a statement he made while in EFCC’s custody.
However, the PDP spokesperson is yet to perfect his bail conditions as confirmed by his counsel in an application made before the court for a variation of bail.
During the trial of Metuh at the Federal High Court in Abuja on Monday, January 25, Osie, a Bureau De Change operator who stood in as Prosecution Witness 2 (PW2) said $1 million was sold to him at the rate of N183 per dollar by Metuh.
Osie said $500,000 was sold to Capital Investment and Trustees, a Lagos based BDC while the remaining balance of $500,000 was sold to one Etionye at N92 million and N91 million respectively.
He said the money totalling N183 million was paid into to the account of Metuh’s company, Dextra Investment Limited after the first witness, PW1, Nneka Ararume forwarded the account details to him on Wednesday, December 2, 2015.
On Osie’s revelations, counsel to the EFCC, Onyeachi Ikpeazu who crossed examined him asked the PW2 if he was aware of foreign exchange policies.
While answering no to the question thrown to him by the prosecuting counsel, a confused Osie was further explained that he is aware that there is a threshold of $4,000 transaction for individuals and $5000 for business or cooperate transactions.
Following the end of the cross examination of the PW2, the judge over the case, Okon Abang adjourned the matter to Tuesday, January 26 for continuation of trail.
Metuh, who is currently in Kuje prison custody is standing trial for corruption and money laundering charges.
He was granted N400 million bail by Abang and subsequently N300 million bail and two sureties in like sum by Justice Ishaq Bello of an Abuja High for shredding a statement he made while in EFCC’s custody.
However, the PDP spokesperson is yet to perfect his bail conditions as confirmed by his counsel in an application made before the court for a variation of bail.
