GTBank vs 4 Journalists: “Mechanical Fault Affected Our Evidence”, Police Tell Judge

Chief Superintendent of Police Michael Abu told a Federal High Court in Lagos on Friday that a mechanical fault caused some video clips, needed as evidence against the defendants, to go missing in the case of four journalists accused of publishing false information about Guaranty Trust Holding Company (GTCO) Plc, the parent company of Guaranty Trust Bank (GTB), and its Group Chief Executive Officer, Segun Agbaje.

The police presented seven video clips in court, but they were found to be duplicates of only two videos, which showed how only two of the four defendants wrote statements.

In case number FHC/L/774C/2024, the prosecution witness, Abu, informed the court that the remaining video evidence might have been lost due to a mechanical fault during file transfer.

The two available video footages show the journalists writing their statements without any legal representation present, supporting the journalists’ claims.

Trial judge Justice Ayokunle Faji had requested evidence in a trial-within-trial to verify that the four defendants wrote statements voluntarily, as the police claimed.

The defendants had previously alleged they were coerced to write statements without legal representation, despite informing the police that their lawyers were on their way.

Justice Faji then asked the police to produce evidence to determine the voluntariness of the defendants’ confessional statements.

The police have accused the journalists, Precious Eze, Olawale Rotimi, Rowland Olonishuwa, and Seun Odunlami, of conspiracy, cyberstalking, and publishing false allegations against GTCO and Agbaje via their media platforms.

Abu testified that he supervised the defendants’ interrogation, while a team member, Yaqob Sule, conducted the interrogations.

Subsequently, Justice Faji admitted a flash drive containing the videos and a certificate into evidence, marking the flash drive as Exhibit A and the certificate as Exhibit B. He also ordered the prosecution to provide four copies of the flash drive to the defense counsel.

After hearing the counsel’s arguments, Justice Faji adjourned the case until November 13 and 14, 2024, for a ruling on the bail applications and for the witness’s cross-examination.

It is noteworthy that the House of Representatives recently launched an investigation into alleged corruption, falsification of financial reports, and money laundering involving Mr. Segun Agbaje, GTCO’s Group Chief Executive Officer, and the bank. This investigation followed a petition by Alhaji Yusuf Kabiru, President of the Arewa Consultative Youth Movement, which was presented to lawmakers by Hon. Nnamdi Ezechi from Delta State.

Meanwhile, the House of Representatives’ Public Accounts Committee also directed GTCO to calculate and remit Value Added Tax on commissions received from Remita transactions between 2015 and 2022 to the Federal Government.

The committee, chaired by Bamidele Salam, representing Ede South/Ede North/Ejigbo/Egbedore Federal Constituency in Osun State, issued this directive during an investigation into alleged revenue leakages via the Remita platform. GTCO’s Executive Director, Mr. Ahmed Liman, acknowledged that the bank had not remitted VAT for eight years.

In addition, the Global Integrity Crusade Network (GICN), a non-governmental organization, petitioned the National Assembly on October 3 for a legislative probe into alleged “corruption, fraud, and financial irregularities” at the bank.

In a statement signed by Amb. Comr. Adebayo Lion Ogorry, Director of Publicity and Mobilization, GICN claimed that a private investigator’s report alleged that, under Segun Julius Agbaje’s leadership, GTCO engaged in unsolicited account openings, declared fictitious profits, engaged in round-tripping and money laundering, financed terrorism, and used customers’ and investors’ funds to pay penalties in the United Kingdom.

The journalists currently on trial had brought these allegations to public attention through their publications.