The much-anticipated arraignment of SunTrust Bank’s Managing Director, Halima Buba, and Executive Director, Innocent Mbagwu, over an alleged \$12 million fraud was stalled on Tuesday, May 27, 2025, due to their absence in court.
The case, which has drawn public interest, is currently before Justice Emeka Nwite of the Federal High Court in Abuja.
Both top bank executives are being charged by the Economic and Financial Crimes Commission (EFCC) for allegedly aiding large-scale cash transactions without involving financial institutions, a breach of the Money Laundering (Prevention and Prohibition) Act, 2022.
However, during the court session, it was revealed that the EFCC had not successfully served the charges to the defendants.
This caused a delay in the proceedings and raised questions about proper legal procedures in such high-profile cases.
EFCC counsel, Ekele Iheanacho, addressed the court on the issue.
“My lord, the prosecution has not been able to serve the defendants. Ironically, they are apparently aware of today’s proceedings as their legal representatives are in court,” he said.
He went on to explain the next steps the prosecution intends to take.
“My learned brother silk friend informed me earlier that they are willing to receive the service on behalf of their clients.
We do not oppose this, but we wish to comply with Section 382(5) of the Administration of Criminal Justice Act (ACJA), which requires us to bring an application for substituted service by way of an ex parte application,” he added.
Furthermore, Iheanacho told the court that both sides had agreed to move the arraignment to June 4, 2025.
“Subject to the court’s convenience, we are seeking June 4 for arraignment,” he stated.
On the other hand, defence counsel J.J. Usman, SAN, countered that his clients were never properly notified about the arraignment.
He stressed that they only heard about it on social media.
“Our clients instructed us to appear in court because they read about the case on social media. They have not been served,” he told the court.
“We approached the learned silk for the prosecution and undertook to accept service on behalf of our clients. We asked him to serve us, but he refused,” Usman added.
He further appealed to the judge.
“My lord has made several orders in similar matters allowing service through legal representatives.
We are here and are pleading with the court to direct that service be effected on us. We are ready to appear with our clients on the next adjourned date.”
Usman also raised concerns about possible arrest and media parade.
“If the court does not direct service on counsel, the prosecution might resort to arresting and parading the defendants in the media,” he said.
Responding to the claim, Iheanacho urged the court to wait for the proper legal process.
“My lord, the court cannot make that order now until a formal application is brought. The fear expressed by the defence is speculative,” he said.
He also emphasized the need for careful legal steps.
“The court does not dwell on speculation. We do not want to create a landmine where the issue of service could later become a basis to challenge the jurisdiction of this Honourable Court.
It is better to make haste slowly, as over-speeding kills,” he concluded.
Justice Emeka Nwite, after considering the arguments, adjourned the matter to June 4, 2025, for arraignment.
He also directed the EFCC to file an application for substituted service by May 29, 2025.
