Yahaya Bello Trial: Over N2.5bn Kogi LGA Funds Traced to Firms, Witness Tells Court
By Enemona Samuel Endurance
The trial of former Kogi State Governor, Yahaya Bello, continued on Thursday at the Federal High Court in Abuja, as an Access Bank compliance officer detailed how billions of naira allegedly moved from Kogi Local Government Area (LGA) accounts into private companies.
Bello is standing trial on a 19-count charge bordering on alleged money laundering to the tune of N80.2 billion.
Olomotane Egoro, a compliance officer with Access Bank, appeared before the court to explain how funds allegedly belonging to Kogi LGAs were traced to Fazab Business Enterprise and E-traders International Limited.
Led in evidence by Kemi Pinheiro, SAN, counsel to the Economic and Financial Crimes Commission (EFCC), Egoro told the court that on May 6, 2022, there were 11 inflows into the account of Fazab Business Enterprise from various Kogi LGAs, including Yagba East, Yala, Ida, and Okene.
The witness said the total inflows on May 6, 2022, amounted to N103,375,059.73. He added that two additional inflows from Ibaji and Dekina LGAs on May 9, 2022, totalled N14,563,702.56, bringing the cumulative sum to N117,938,762.29.
According to Egoro, Yakubu Siyaka A. made several cash withdrawals from the account between May 9 and May 26, 2022.
The witness told the court that the cash withdrawals made by Siyaka within that period amounted to N116,600,000, adding that by May 31, 2022, only about N1.08 million remained in the account.
The compliance officer further disclosed that between June and July 2022, the account recorded additional inflows from Kogi LGAs totalling N250,511,142.99 — N108,793,086.69 in June and N141,718,056.30 in July.
He said cash withdrawals within the same period amounted to N198,900,000.
“That is over N2.5 billion paid into the account of Fazab Business Enterprise from Kogi state local governments within eight months, from May to December 2022,” the witness was quoted in a statement by the EFCC.
Egoro also testified that transfers were made from the Fazab account to companies and individuals. In August 2022 alone, two transfers totalling N94,364,450 were made — N40 million to Konforte Koncept Company and N54,364,450 to Abba Adaudu.
N3.1bn Allegedly Lodged in E-Traders International Account
Speaking on the account of E-traders International Limited, Egoro said the company’s account opening documents listed Abdullahi Jamilu as the first signatory.
The witness narrated a pattern of multiple cash deposits made at the Lokoja branch of Access Bank, allegedly by Abba Adaudu and others.
He told the court that between July 26, 2021 and April 6, 2022 — a period of about eight months — the total cash deposits into the E-traders International account amounted to N3,145,569,654.
According to his testimony, the deposits were made in tranches, often in sums not exceeding N10 million per transaction.
Egoro stated that several cash deposits were made on different dates in 2021, including July 26, August 2, August 19, August 25, August 30, August 31, September 2, October 8, October 11, November 8–10, November 12, November 30, December 1, December 3, December 22, December 29, and December 30.
He added that three individuals — Abba Adaudu, Yusuf Abba, and Haruna Mohammed — were identified as persons who made cash deposits into the account.
At the close of proceedings, J.B. Daudu, SAN, counsel to Bello, informed the court of a pending application seeking the release of the former governor’s passport to enable him travel for the lesser Hajj during Ramadan.
Justice Emeka Nwite granted the application.
The Bureau News reports that the case forms part of ongoing proceedings closely monitored under Nigeria News Today, as the EFCC continues its prosecution.
