Yahaya Bello: How N5.6bn Kogi LGA funds were transferred into private accounts – Witness
Olomotane Egoro, a compliance officer at Access Bank, continued his testimony in the trial of Yahaya Bello, the former governor of Kogi state, regarding the alleged transfer of funds from Kogi LGA accounts.
Bello is facing trial at the Federal High Court in Abuja on 19 charges related to alleged money laundering involving N80.2 billion.
Egoro appeared before the court on Thursday to provide evidence on how funds allegedly belonging to Kogi LGAs were traced to two companies—Fazab Business Enterprise and E-traders International Limited.
Under questioning from Kemi Pinheiro, the prosecution counsel, Egoro explained that on May 6, 2022, 11 separate inflows were made into the Fazab Business Enterprise account from various Kogi LGAs, including Yagba East, Yala, Ida, and Okene.
The prosecution showed the company’s account statement to the witness.
When asked about transactions on May 9, 2022, Egoro confirmed that two separate transactions occurred on that date. He stated that the inflows came from Ibaji and Dekina LGAs, amounting to N117,938,762.29 when combined with the earlier May 6 deposits.
Egoro identified Yakubu Siyaka A as the individual responsible for the cash withdrawals associated with these inflows. Siyaka withdrew funds on multiple dates between May 9 and May 26, 2022, with a total withdrawal of N116,600,000.
The witness confirmed that nearly all of the funds deposited into the Fazab account within this period were withdrawn by Siyaka, leaving just N1.08 million by the end of May 2022.
Egoro further stated that between June and July 2022, there were continuous inflows from several Kogi LGAs, totaling N250,511,142.99. During this period, Siyaka again made significant cash withdrawals, amounting to N198,900,000.
When asked if nearly N200 million was withdrawn in cash from the inflows of June and July, Egoro affirmed.
He added that a similar pattern of credit and withdrawal occurred throughout the rest of 2022, including in August, September, October, November, and December.
“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 stated, according to a report from the EFCC.
He further testified that transfers were made from the Fazab account to various companies and individuals. In August 2022, for example, two transfers totaling N94,364,450 were made, with N40 million going to Konforte Koncept Company and N54,364,450 to one Abba Adaudu.
On E-traders International Limited’s account, Egoro described how multiple cash deposits were made into the account by Abba Adaudu, a key individual involved.
He provided details of numerous deposits, including seven cash deposits of N10 million each on July 26, 2021, and other significant deposits throughout August and September 2021, at Access Bank’s Lokoja branch.
In total, between July 26, 2021, and April 6, 2022, over eight months, N3,145,569,654 was deposited into the E-traders International account.
At the conclusion of Egoro’s testimony, J.B. Daudu, Bello’s defense lawyer, requested that the former governor’s passport be released to him for travel during the lesser Hajj in the upcoming Ramadan. The trial judge, Emeka Nwite, granted the application.
