How Ex-Minister of Power Siphoned ₦22bn Converted to US Dollars Through My Accounts - BDC Operator

By Dansu Peter  The trial of former Minister of Power, Saleh Mamman, resumed on Wednesday, January 22, 2025, at the Federal High Court in Ab...

By Dansu Peter 

The trial of former Minister of Power, Saleh Mamman, resumed on Wednesday, January 22, 2025, at the Federal High Court in Abuja. Presided over by Justice James Omotosho, the Economic and Financial Crimes Commission (EFCC) presented its eighth witness, Abdullahi Suleiman, a bureau de change (BDC) operator, who detailed how over ₦22 billion was allegedly siphoned from the Federal Ministry of Power during Mamman's tenure.  

Suleiman testified that the funds, received in naira, were converted into United States dollars through his business accounts without any corresponding services, contracts, or projects rendered. The transactions involved multiple companies owned by Suleiman, including Prymint Investment Limited, Strong Field International Projects Limited, Mintedge Nigeria Limited, and others.  

During the proceedings, Suleiman disclosed that he was approached in 2019 by a fellow BDC operator, Alhaji Maina Goje, who requested access to his business accounts. According to Suleiman, Goje facilitated the transfer of funds into these accounts, instructing him to convert the money to dollars and, in some cases, make further transfers. Suleiman revealed that the transactions continued until 2024, amounting to over ₦22 billion.  

Suleiman also mentioned that Goje occasionally sent a proxy, identified as Musbhu, to manage the transactions. Musbhu, nicknamed "Yaro Minister," reportedly acted on behalf of Saleh Mamman. Additionally, Suleiman testified that Goje introduced him to Mustapha Muhammed, allegedly a senior official within the Federal Ministry of Housing, who also issued instructions on dollar disbursements.  

The EFCC presented Exhibit X, which included bank statements from Suleiman’s companies, confirming significant inflows of funds. Notable transactions included:  

- ₦285,983,285 on May 24, 2021  

- ₦278,248,611 on May 26, 2021  

- ₦320 million on January 1, 2021  

- ₦184 million on June 18, 2021  

- ₦178,300,285 on July 14, 2021  

Additional transfers, ranging from ₦64 million to ₦90 million, were also highlighted. Suleiman admitted to receiving and processing these funds.  

Earlier in the trial, a compliance officer from FCMB submitted bank statements and related documents as evidence, including a response letter dated August 16, 2024, detailing transactions involving several of Suleiman’s companies. The documents were admitted as Exhibit XTUB.  

Justice Omotosho adjourned the case to January 23, 2025, for the continuation of the hearing.