Alleged N3 Billion Fraud: 'How Kogi State Funds Were Reportedly Laundered,' Witness Speaks Out
Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering public affairs and governance.
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FCT, Abuja - The sixth prosecution witness, PW6, Remigius Egu in the trial of Ali Bello, Yakubu Isiaka Adabenege, Abba Adaudu, and Iyada Sadat, narrated how funds allegedly belonging to various local government areas (LGAs) of Kogi state were allegedly diverted and laundered through private accounts.
Per a statement by the Economic and Financial Crimes Commission (EFCC), Egu testified on Tuesday, April 8, before Justice Obiora Egwuatu of the federal high court, Maitama, Abuja.
'How Kogi funds under Yahaya Bello were allegedly laundered'
Legit.ng reports that the EFCC is prosecuting the quartet on 18-count charges, bordering on money laundering and misappropriation of public funds to the tune of over N3 billion.
Bello, the first defendant is nephew of the former Kogi state governor, Yahaya Bello as well as the Chief of Staff (CoS) to Kogi state governor, Usman Ododo.
Led in evidence by the prosecution counsel, Rotimi Oyedepo (SAN), the witness, a compliance officer with Zenith Bank identified documents marked “Exhibits E and E1” as having originated from Zenith Bank. He also reportedly confirmed that a letter dated March 16, 2022, addressed to the EFCC conal commander, pertained to an account belonging to a customer, Adabenege, the second defendant, and contained transaction evidence from the bank.
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. These he said were as follows: 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.
He said:
“My Lord, all the inflows were received on October 4, 2023."
Before the inflows, the witness disclosed that the balance in the Korforte Concept Limited account was a mere N7,370 and that on the same day, a transaction of N110 million was made from the account to Adaudu one of the defendants.
He further revealed that 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. He also disclosed that a transfer of N21.9 million to one Musa Omuya was made from the account that same day.
Further in his testimony, the witness disclosed that 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.
On October 10, 2018, he said that transactions from the account showed N10 million, wired to Musa Omuya and N5.1 million and N5 million, respectively, wired to Adaudu.
Earlier in the proceedings, the Fifth Prosecution Witness, PW5, Oyinkosola Akerele Shukurat, the managing director (MD) of Forza Oil and Gas Limited, disclosed that the company, which also engages in foreign exchange transactions, received a payment from a customer, named Abdul Bashir for the purchase of U.S. dollars.
Furthermore, she disclosed that the dollars that were procured were sent to four beneficiaries, three of whom were identified as Fatima Bello, Na’ima Bello, and Zara Bello, for the payment of their school fees at the American International School (AIS), totalling $139,000.
Alleged N3 billion fraud in Kogi: Judge adjourns matter
When shown Page 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.
She was cross-examined by defence counsel A.M. Aliyu (SAN) and Nureini Jimoh, SAN.
Justice Egwuatu adjourned the matter till May 5, 19, 20, and 21, 2025, for continuation of trial.
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Source: Legit.ng
