How I Invested $2Million For Olisa Metuh – Wealth Manager

metuhA prosecution witness and former wealth manager with the Commercial Resource Management Company has told the court how Mr Olisa Metuh allegedly gave her the sum of two million dollars and how she managed the funds for him.

The Economic and Financial Crimes Commission opened its case against the National Publicity Secretary of the Peoples Democratic Party, Mr Olisa Metuh at the Federal High Court in Abuja on Monday.

Led in evidence, the first prosecution witness, one Miss Nicole Ararume, told the court that she received two million dollars in 100 dollar bills from him which she took to two bureau the change companies for onward transfer to the Asset and Resources Management account of Mr Metuh and his company, Destra Investment Limited.

The lawyers to Mr Metuh asked for an adjournment for him to prepare materials required for cross examination but the judge refused to adjourn the cross examination of the prosecution witness on the grounds that there was no cogent reason before the court to do so.

Consequently, a second witness – the owner of a bureau de change company was invited to testify and he corroborated the first witness’s testimony.

He recounted how he received half of the said fund and transferred same to the account of Mr Metuh.

In what has become the usual, Mr Metuh arrived the court premises in the company of prison officials and in handcuffs but this did not deter him from exchanging banters and hugs with friends and relations.

In his earlier attempt to get an adjournment, counsel to Mr Metuh, Oyeachi Ikpeazu, had complained that it had been difficult to adequately prepare for trial as the prison officials have made interaction with his client difficult.

He told the court that the allegations of the witness were serious and there was a need to get the necessary documents to enable him adequately cross examine her.

The counsel to the Economic and Financial Crimes Commission, Mr Tahir Sylvanus, objected to the application, saying: “It has been known to the defence that trial will commence today, as such, it should have adequately prepared for the case”.

Mr Sylvanus also told the court that he had front loaded all the account details relating to the transaction, as such there was no cogent reason why the hearing should be adjourned.

Again Mr Ikpeazu argued that he could not cross examine a prosecution witness based on its document but the defence would rely on its own generated document to do so.

 

Metuh Requests For Variation Of Bail Conditions As Trial Begins

Olisa-metuhThe trial of the National Publicity Secretary of the Peoples Democratic Party, Mr Olisa Metuh, has started, with the opposition party’s spokesman requesting for a variation of his bail conditions. 

Mr Metuh made the request before his trial began on Monday.

However, because the prosecution was just served, the trial judge, Justice Abang Obong, deferred hearing on the issue to January 27.

Witness Testify

He, however, declined to adjourn the trial, asking the first prosecution witness to testify.

The witness, one Miss Nicole Ararume, claimed she was the wealth manager for Mr Metuh and his company Destra Investment Limited.

She narrated to the court how she received the sum of two million dollars paid in 100 dollar bills, which she took to a Bureau De Change for onward transfer to the Asset and Resources Management account of Mr Metuh and his company.

The lawyers to Mr Metuh, however, asked for an adjournment for him to prepare materials required for cross examination.

“Her allegations are serious and there is a need to get the necessary documents to enable me adequately cross examine her,” Mr Oyeachi Ikpeazu told the court.

However, the counsel to the Economic and Financial Crimes Commission, Mr Tahir Sylvanus, objected to the application.

He said: “It has been known to the defence that trial will commence today, as such, it should have adequately prepared for the case”.

Mr Sylvanus also told the court that he had front loaded all the account details relating to the transaction as such there was no cogent reason why the hearing should be adjourned.

Again Mr Ikpeazu argued that he could not cross examine a prosecution witness based on its document.

He told the court that the defence would also rely on its own generated document to do so.

The council to Mr Metuh further complained that it had been difficult to adequately prepare for trial as the prison officials have made interaction with his client’s difficult.

On Friday, a Federal Capital Territory (FCT) High Court granted Mr Metuh bail in the sum of 300 million Naira and two sureties in like sum.

In the ruling, the Chief Judge of the FCT High Court, Justice Ishaq Bello, stressed that the sureties must be resident in Abuja, Nigeria’s capital city.

Mr Metuh is facing a seven-count charge of criminal breach of trust, corruption and money laundering.