A compliance officer with Access Bank, Olomotane Egoro, has detailed how funds from Kogi State local governments were allegedly diverted into private company accounts during the ongoing trial of former Governor Yahaya Bello.
Testifying on Thursday, Egoro said transfers from several Kogi local government areas — including Yagba East, Yala, Ida, and Okene — were traced to the accounts of Fazab Business Enterprise and E-Traders International Limited. The testimony was led by Kemi Pinheiro, SAN, representing the Economic and Financial Crimes Commission (EFCC).
Egoro explained that on May 6, 2022, Fazab Business Enterprise received 11 deposits totaling ₦103,375,059.73, followed by two more deposits on May 9, 2022, from Ibaji and Dekina local governments, adding ₦14,563,702.56. Withdrawals from the account between May 9 and 26, 2022, were carried out by Yakubu Siyaka A., totaling ₦116.6 million, leaving a balance of just over ₦1 million by May 31.
He added that consistent inflows continued from June to December 2022, totaling over ₦2.5 billion, with significant cash withdrawals during the same period. Some funds were allegedly transferred from Fazab to other companies and individuals, including ₦94,364,450 in August 2022 alone.
Regarding E-Traders International Limited, Egoro testified that multiple cash deposits were made at Access Bank’s Lokoja branch, mainly by Abba Adaudu, between July 26, 2021, and April 6, 2022. Over ₦3.1 billion was deposited into the company’s account during this eight-month period.
The prosecution also tendered the companies’ statements of account as evidence.
At the conclusion of proceedings, Yahaya Bello’s lawyer, J.B. Daudu, SAN, applied for the release of the former governor’s passport to enable him travel for the lesser Hajj. Justice Emeka Nwite granted the application.
Bello faces a 19-count charge of alleged money laundering totaling ₦80.2 billion at the Federal High Court in Abuja.
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Bank Witness: ₦5.6bn Kogi LGA Funds Allegedly Diverted to Companies
