RismadarVoice Reporters
May 14, 2026
Economic and Financial Crimes Commission (EFCC) on Thursday presented its third prosecution witness in the ongoing trial of alleged serial microfinance bank fraudster, Musa Saliu Adekunle, before the Federal High Court sitting in Uyo, Akwa Ibom State.
The witness, Deputy Superintendent of the EFCC, Mubarak Isah, told the court presided over by Justice Maurine A. Onyetenu that the defendant was arrested with three mobile phones and a Point of Sale (POS) machine allegedly used in defrauding several financial institutions, including the University of Uyo Microfinance Bank.
During his examination-in-chief, the witness disclosed that the commission sent investigation letters to the Port Harcourt Electricity Distribution Company and telecommunications giant, MTN, as part of efforts to verify information linked to accounts allegedly used by the defendant and his accomplices.
According to him, the electricity distribution company confirmed that the meter number allegedly used to open accounts at UniUyo Microfinance Bank and other financial institutions did not belong to the company.
He further stated that the MTN phone numbers linked to the accounts under investigation were registered with identities unrelated to Adekunle or members of his alleged syndicate.
At the proceedings, prosecution counsel, Joshua Abolarin, tendered several exhibits through the witness, including a petition filed by the University of Uyo Microfinance Bank over an alleged fraud exceeding N9 million.
Another petition admitted in evidence was submitted to the Benin Zonal Directorate of the EFCC by Avuenegbe Microfinance Bank in Auchi, Edo State, also implicating Adekunle and his alleged accomplices in fraudulent activities.
Other exhibits admitted by the court included the three mobile phones and a Moniepoint POS machine recovered from the defendant at the time of his arrest, as well as responses from eight financial institutions allegedly confirming the criminal activities of the accused and members of his syndicate.
Adekunle was first arraigned by the EFCC on July 18, 2025, on a five-count charge bordering on money laundering, obtaining by false pretence, and conspiracy.
He pleaded not guilty to the charges, leading to the commencement of his trial and subsequent remand at the Uyo Correctional Centre.
One of the charges against the defendant alleged that he conspired with three other persons currently at large to commit offences involving obtaining property by false pretence and money laundering in Akwa Ibom State in February 2024.
Meanwhile, defence counsel, Savn Daniel, had earlier filed a motion seeking bail for the defendant.
Justice Onyetenu adjourned the matter until June 16, 2026, for the hearing of pending motions and the continuation of the cross-examination of the third prosecution witness.
