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The Economic and Financial Crimes Commission, EFCC, on Monday, February 14, 2022, presented its first witness in the money laundering trial of James Richard Nolan, Goidel Resources and ICIL Limited before Justice D. U. Okorowo of the Federal High Court Abuja.
The defendants are being prosecuted by the Commission on a 16-count charge of money laundering linked to the $9.6bn Process & Industrial Development gas processing and utilization contract scam.
The first prosecution witness, Wale Agunbiade Adewale, an account officer with Guaranty Trust Bank who handled the opening of the accounts for the companies informed the court that, sometime in August 2019 โwe 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 of Article of Association, particulars of Directors and other means of identification.โ
The documents were tendered by the prosecution and admitted in evidence by the Court.
The witness further told the court that the โsignatories 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, Lloyd Quinn and Adam Quinn. For the coordinate account of P&ID, we have Hitchcock Neil and James Nolan.โ
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 โthe transactions on each of the mentioned days were a daily cash deposit of $10,000.โ
He further disclosed that, โOn the 2nd of May, 2019, an inward transfer of $47,975.00 was received into the account of Goidel Resources from Industrial Consultant International.
โOn 4 September, 2014, the transaction of ICIL Ltd included checkbook issuance of $10,000 and a debit of $40,000 for reference salary payment for Neil and Elizabeth.
โOn 1st September, 2014, there were three inflows: $350,000 in favour of ICIL from Basale Enterprise, $50,000 from Baharudeen Farouk in favor of ICIL and an inflow of $10,000 from Farsman Investment Ltd.โ
The witness said $125,000 was transferred from Nolan James to Goidel Resources Ltd on 1st February, 2016. โThere was a transfer of $125, 000 from Nolan James to Goidel Resources Ltd,โ he said.
Justice Okorowo adjourned the matter to 15 February, 2022, for cross-examination and continuation of hearing.
