Witness Reveals Distribution of N3.1bn to Private Entities During Yahaya Bello’s Trial

A compliance officer from Access Bank testified on Thursday in the Federal High Court in Abuja about the transfer of roughly N3.1 billion from various local governments in Kogi State into a private company’s account, which was subsequently distributed to individuals and other entities over a period of eight months during Governor Yahaya Bello's administration.

Olomotane Egoro, who served as the seventh prosecution witness in the money laundering case against Bello, explained how the funds, once deposited in the private account, were withdrawn in cash and transferred to additional accounts.

Before the trial judge, Emeka Nwite, Egoro provided a thorough account of these financial transactions that took place over an eight-month duration. He identified two firms, Fazab Business Enterprise and E-traders International Limited, as central to these transactions, highlighting that Fazab Business Enterprise directly obtained funds from the local governments, further showing cash deposits made into the account of E-traders International Limited.

The Economic and Financial Crimes Commission (EFCC) is prosecuting former Governor Bello on 19 counts of money laundering, which include allegations of diverting N80.2 billion from both the Kogi State Government and local governments in the state during his time in office.

The charges against him also encompass claims of misappropriating N110 billion from the state, which he allegedly utilized to purchase properties in prime areas of Abuja and Dubai, UAE. This particular case is presently being overseen by the Federal Capital Territory High Court in Maitama, Abuja.

According to EFCC’s media head, Dele Oyewale, witness Egoro stated that between July 26, 2021, and April 6, 2022, the total cash deposited into E-traders International Limited’s account from local governments in Kogi State reached N3.1 billion (N3,145,569,654).

When questioned by prosecution lawyer Kemi Pinheiro, a Senior Advocate of Nigeria (SAN), Egoro confirmed these cash deposits were made within the mentioned timeframe.

Additionally, he revealed that cash deposits were executed at the Lokoja branch of Access Bank, despite the account being registered at the Mararaba branch in Nasarawa State. He indicated that all deposits from Abba Adaudu, Abba A., Jamilu Abdullahi, and Haruna Mohammed were made in Lokoja.

Exhibit 33(8), detailing transactions for Fazab Business Enterprise, showed that on May 6, 2022, there were multiple inflows into the account from various local government areas, including Yagba East and Okene, amounting to approximately N117.9 million.

The preliminary outline of the inflows and withdrawals continued, with Egoro noting that by May 31, 2022, a mere N1 million remained in the Fazab account following extensive cash withdrawals led by Yakubu Siyaka A. during the preceding weeks, totaling N116.6 million.

The trend of cash inflows from Kogi State local governments persisted in subsequent months. In June and July 2022 alone, total accumulated inflows reached N250.5 million, with corresponding cash withdrawals also exceeding N200 million, as confirmed by Egoro.

The witness maintained that similar patterns of inflows and withdrawals were observed across the following months, leading to a total sum credited into Fazab's account over the given period exceeding N2.5 billion from May to December 2022, culminating with cash withdrawals amounting to N582.3 million by Yakubu Siyaka A.

In addition to cash withdrawals, Egoro stated significant transfers were made from Fazab’s account, including a N94.4 million transfer to various entities, including Konforte Koncept and Hadassah Katriel Global Enterprise.

Regarding E-traders International Limited, Egoro offered a chronological breakdown of cash deposits made by Abba Adaudu and others at the Lokoja branch, demonstrating a consistent pattern of significant cash transactions following the funds received from local governments.

Following this testimony, Bello’s legal team sought the court's approval for the former governor to travel to Mecca for a pilgrimage during Ramadan. The motion was filed on January 20 and sought the temporary release of his passport. The EFCC did not oppose the request. In light of this, the court granted Bello permission to make the pilgrimage, limiting his travel to the final ten days of Ramadan, which will commence on March 13, as the trial continues.