Court exposes cash withdrawals in Yahaya Bello’s ₦80.2B Kogi LG fraud trial
The Federal High Court in Maitama, Abuja, heard dramatic revelations yesterday in the ongoing trial of former Kogi State Governor Yahaya Adoza Bello, accused of diverting ₦80.2 billion from local government funds.
Olomotane Egoro, a compliance officer with Access Bank Plc, testified on the mechanics of the alleged fraud, explaining how huge sums from multiple Kogi State local governments were deposited into corporate accounts and largely withdrawn in cash.
Egoro revealed that on May 6 and May 9, 2022, over ₦117 million from councils including Yagba East, Yala, Ida, Okene, Ibaji, and Dekina was credited into an account linked to Fazab Business Enterprise. He said almost all these funds were withdrawn in cash, mostly by Yakubu Siyaka A.
The witness further explained that this pattern continued from June to December 2022, with hundreds of millions of naira withdrawn shortly after deposits, suggesting a systematic effort to divert local government funds.
Egoro also detailed transfers to companies and individuals, including Konforte Koncept Company, Abba Adaudu, Shetland Logistics Services Ltd., and Ejadams Essence Ltd., forming part of the EFCC’s evidence of money laundering.
The EFCC alleges that these transactions constitute a network of accounts and cash movements designed to conceal misappropriation of public funds, making the case a significant anti-corruption trial in Abuja.
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