Alleged N3 bn fraud: How Kogi LG funds were laundered – Witness

Remigius Egu, the sixth prosecution witness in the trial of Ali Bello, a nephew of former Governor Yahaya Bello; Yakubu Isiaka Adabenege, Abba Adaudu and Iyada, has narrated how funds belonging to different Kogi Local Government Areas (LGAs), in the tune of N3 billion, were allegedly laundered through private accounts. 

The witness disclosed before Justice Obiora Egwuatu of the Federal High Court sitting in Maitama, Abuja, on Tuesday. 

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The Economic and Financial Crimes Commission (EFCC), which is prosecuting the defendants on “18-count charges, bordering on money laundering and misappropriation of public funds to the tune of over N3 billion,” made this known in a post on X (formerly Twitter) on Tuesday. 

Bello, who is the first defendant, is also the current Chief of Staff to Kogi State Governor, Usman Ododo. 

Led in evidence by prosecution counsel Rotimi Oyedepo, SAN, the witness, a compliance officer from Zenith Bank, confirmed the authenticity of documents identified as “Exhibits E and E1,” stating they were from the bank. The witness also verified a letter dated March 16, 2022, addressed to the EFCC Zonal Commander, which detailed transaction records linked to an account held by the second defendant, Adabenege.

The post further stated, “In his breakdown of the transactions, the witness told the court that multiple inflows of large sums of money from several Kogi State LGAs were traced to the account of Korforte Concept Limited on October 4, 2023. 

The inflows were “Ogori Magongo LGA: N14,844,640.57; Ibeji LGA: N18,629,944.51; Adavi LGA: N20,887,557.54; Kogi LGA: N17,929.59; Kabba/Bunu LGA: N18,460,569.12; Ajaokuta LGA: N22,764,334.70; Okene LGA: 20,758,710.37; Yagba West LGA: N18,234,063.61; Ofu LGA: N21,368,633.69.”

The witness further asserted that the inflows were received on October 4, 2023. 

According to him, before the inflows, “the balance in the Korforte Concept Limited account was a mere N7,370 (Seven Thousand, Three Hundred and Seventy Naira) and that on the same day, a transaction of N110 million was made from the account to Adaudu, one of the defendants.

“On October 5, 2018, more funds were funnelled into the same account from additional LGAs that included: Igalamela/Odolu LGA: N19,480,651.20; Olamaboro LGA: N19,089,517.01; Dekina LGA: N23,373,201.67; Ibaji LGA: N15,653,631.39; Omala LGA: N16,876,252.03; Lokoja LGA: N20,591,073.74.

“A transfer of N21.9 million to one Musa Omuya was made from the account that same day.

“There were more inflows into the account on October 8, 2018, being N17,369,243.52 from Ijumu LGA and N17,471,549.57 from Bassa LGA.

“Transactions from the account showed N10 million, wired to Musa Omuya and N5.1 million and N5 million, respectively, wired to Adaudu.”

Earlier, the fifth prosecution witness, a Managing Director of Forza Oil and Gas Limited, Oyinkosola Akerele Shukurat, who was cross-examined by defence counsel, A.M. Aliyu, SAN and Nureini Jimoh, SAN., revealed that a customer, Abdul Bashir had paid for the purchase of U.S dollars, which was sent to four beneficiaries – “Fatima Bello, Na’ima Bello, and Zara Bello, for the payment of their school fees at the American International School (AIS), totalling $139,000.”

However, the identity of the fourth beneficiary was undisclosed.

“When shown Pages 14 and 15 of “Exhibit D” series, the witness identified a payment of $49,600, with $44,700 sent to AIS on behalf of Fatima Bello. On Page 23 of the same exhibit, she confirmed another $44,700 payment for Fatima Bello. The final transaction, according to her, was $44,700 for Na’ima Bello.”

The case was, however, adjourned till May 5, 19, 20, and 21, 2025.

NIGERIAN TRIBUNE