Alleged ₦80.2bn Fraud: How ₦3.1bn Kogi funds were lodged into e-traders account in 8 months – Witness testifies against Yahaya Bello

The trial of former Kogi State Governor, Yahaya Bello, before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, continued on Thursday, January 29, 2026, with the continuation of testimony by Prosecution Witness Seven, PW7, Olomotane Egoro, a compliance officer with Access Bank.

Bello is being prosecuted by the Economic and Financial Crimes Commission, EFCC, on a 19-count charge bordering on money laundering to the tune of ₦80,246,470,088.88 (Eighty Billion, Two Hundred and Forty-Six Million, Four Hundred and Seventy Thousand and Eighty-Nine Naira, Eighty-Eight Kobo).

Led in evidence by prosecution counsel, Kemi Pinheiro, SAN, Egoro gave a detailed breakdown of financial transactions involving the accounts of Fazab Business Enterprise and E-traders International Limited, which allegedly received funds traced to Kogi State local government councils.

After reminding the witness that he was still on oath, Pinheiro applied that Exhibit 33(8), the statement of account of Fazab Business Enterprise be shown to the witness. He drew his attention to inflows recorded on May 6, 2022, and May 9, 2022.

Responding, Egoro told the court that on May 6, 2022, there were 11 inflows into the Fazab Business Enterprise account. He confirmed that the inflows came from different local government councils in Kogi State, including Yagba East, Yala, Ida and Okene.

On the transactions of May 9, 2022, the witness stated that there were three transactions, comprising two inflows. When asked to confirm whether the inflows originated from Ibaji and Dekina Local Government Areas, Egoro answered in the affirmative, saying, “Yes, my Lord, I can confirm it came from the two local governments.”

In summation, the witness told the court that the total inflow on May 6, 2022, amounted to ₦103,375,059.73, while the two inflows on May 9, 2022, totalled ₦14,563,702.56, bringing the cumulative sum to ₦117,938,762.29.

Pinheiro further drew the witness’s attention to cash withdrawals that followed the inflows. Asked to identify the individual who made a ₦10 million cash withdrawal from the account, Egoro replied, “My Lord, it is Yakubu Siyaka A.”

He confirmed that Yakubu Siyaka A. made cash withdrawals on several dates, namely May 9, 10, 11, 13, 16, 17, 18, 19, 20, 23, 24 and 26, 2022. In total, the witness said the cash withdrawals made by Yakubu Siyaka A. between May 9 and May 26, 2022, amounted to ₦116,600,000.

When asked whether, in view of his testimony, almost the entire inflow of ₦117,938,762.29 from the local governments in May 2022 was withdrawn in cash, Egoro answered, “Yes, my Lord.”

The witness further told the court that by May 31, 2022, only a balance of about N1,00, 289,41 (One million, Two hundred and Eighty-nine Naira Forty-one kobo) remained in the Fazab account.

Turning to June and July 2022, Egoro testified that there were consistent inflows from various Kogi State local governments. He stated that the total inflow for June 2022 was ₦108,793,086.69, while July 2022 recorded inflows of ₦141,718,056.30, bringing the total inflow for both months to ₦250,511,142.99.

He confirmed that during the same period, Yakubu Siyaka A. continued to make cash withdrawals from the account.  According to him, the total cash withdrawals in June and July 2022 amounted to ₦198,900,000. When asked if almost ₦200 million was withdrawn in cash from the inflows of the two months, the witness responded, “Yes, my Lord, that’s correct.”

Egoro further testified that the pattern of inflows from Kogi State local governments and corresponding cash withdrawals persisted in August and September 2022. He also confirmed that similar credit entries and withdrawal patterns were observed in October, November and December 2022.

Calculating the inflows from August to December 2022, the witness told the court that the total sum credited into the Fazab Business Enterprise account during the period was ₦2,195,273,096.27. When added to the inflows recorded in May, June and July 2022, Egoro said the total inflow from May to December 2022 amounted to ₦2,563,722,942.55.

“That is over ₦2.5 billion paid into the account of Fazab Business Enterprise from Kogi State local governments within eight months, from May to December 2022,” he said, adding, “Yes, my Lord.”

On withdrawals, the witness stated that cash withdrawals made by Yakubu Siyaka A. from August to December 2022 amounted to ₦266,800,000, while withdrawals for May 2022 stood at ₦116,600,000 and those for June and July 2022 amounted to ₦198,900,000. “My Lord, the total cash withdrawal by Yakubu Siyaka A. is ₦582,300,000,” he said.

Egoro further testified that beyond cash withdrawals, there were also transfers from the Fazab account. He said that in August 2022, two transfers totalling ₦94,364,450 were made from the account. “My Lord, the first was ₦40 million on the 9th of August, while the second was ₦54,364,450 on the 10th of August,” he said.

According to him, the ₦40 million transfer was made in favour of Konforte Koncept Company, while the ₦54,364,450 was transferred to Abba Adaudu.

In September 2022, the witness testified that there were two transfers to Yagba East Local Government on September 2, 2022, amounting to ₦9,100,359.80 and ₦11,582,274.83 respectively. He also told the court that on September 9, 2022, ₦25,000,000 was transferred to Shetland Logistics Services Limited, while on September 13, 2022, ₦86,500,000 was transferred to Ejadams Essence Limited.

Continuing, Egoro stated that on October 11, 2022, there was an outflow of ₦80,000,000 in favour of Hadassah Katriel Global Enterprise. He further told the court that between October and December 2022, Hadassah Katriel Global Enterprise received a total of seven transfers from the Fazab Business Enterprise account, amounting to ₦430,000,000.

Turning to Exhibit 33(6), the statement of account of E-traders International Limited, the witness said it formed part of the account opening package of the company and identified Abdullahi Jamilu as the first signatory.

Egoro then gave a chronological breakdown of cash deposits into the E-traders International Limited account, stating that on July 26, 2021, there were seven cash deposits of ₦10 million each made by Abba Adaudu. On July 22, 2021, he said Abba Adaudu appeared three times as the depositor of cash.

He told the court that on August 2, 2021, there were three cash deposits amounting to ₦30 million, while on August 19, 2021, four cash deposits were made by Abba Adaudu. On August 25, 2021, he said there were ten cash deposits of ₦10 million each, totaling ₦100 million, and on August 30, 2021, six cash deposits were made by the same individual.

“All these deposits were made at the Lokoja Branch of Access Bank, the Kogi State capital,” the witness said.

Egoro further testified that on August 31, 2021, there were five cash deposits totaling ₦50 million, while on September 2, 2021, there were six cash deposits of ₦10 million each by Abba Adaudu at the Lokoja branch.

He stated that on October 8 and 11, 2021, there were ten cash deposits of ₦10 million each by Abba Adaudu, totaling ₦100 million. On November 4, 2021, he said there were 14 cash deposits by Abba Adaudu amounting to ₦134 million.

According to him, between November 8 and 10, 2021, there were 37 cash deposits by Abba Adaudu, each not exceeding ₦10 million, while on November 12, 2021, there were five cash deposits of ₦10 million each, totaling ₦50 million.

He also told the court that on November 30, 2021, there were 20 cash deposits by Abba Adaudu, and on December 1, 2021, there were 23 cash deposits, none exceeding ₦10 million.

On December 3 and 22, 2021, Egoro said there were seven cash deposits by Yusuf Abba, while on December 29 and 30, 2021, there were 12 cash lodgments by Haruna Mohammed at the Lokoja branch.

Continuing his testimony, the witness said that on January 18, 19 and 24, 2022, there were 13 cash deposits by Abba Adaudu, while on January 28 and 31, 2022, there were 31 cash deposits by Abba Adaudu and one by Haruna Mohammed.

He further stated that on February 1 and 8, 2022, there were 25 cash deposits by Abba Adaudu, while on February 22, March 2 and March 10, 2022, there were 12 cash deposits. On March 11 and 21, and April 5, 2022, he said there were 13 cash deposits by Jamilu Abdullahi and Abba Adaudu at the Lokoja branch.

According to Egoro, on April 5 and 6, 2022, there were 30 cash lodgments of ₦10 million each by Abba K.

In summation, the witness told the court that between July 26, 2021 and April 6, 2022, a period of about eight months, the total cash deposits into the E-traders International Limited account amounted to ₦3,145,569,654.

When asked to confirm the calculation, Egoro replied, “Yes, my Lord. These cash deposits were made between July 26, 2021 and April 6, 2022, within eight months.” He further stated, “My Lord, the cash deposits were made by Abba Adaudu, Abba A., Jamilu Abdullahi and Haruna Mohammed.”

He confirmed that all the cash deposits into the E-traders International Limited account were made at the Lokoja Branch of Access Bank. He also told the court that although the cash deposits were made in Lokoja, the E-traders International Limited account was opened at the Mararaba Branch of Access Bank in Nasarawa State. The address on the statement of account, he said, read: Plot P316, Abuja–Keffi Expressway, Mararaba, Nasarawa State.

At the close of proceedings, defence counsel, J.B. Daudu, SAN, informed the court of an application dated January 19, 2026, seeking an order to release the defendant’s international passport to enable him travel for the lesser Hajj during the month of Ramadan. He also prayed the court to grant permission for the defendant to travel to the holy land. The application, he said, was supported by a 24-paragraph affidavit deposed to by the defendant.

Responding, the prosecution stated that it was not opposed to the application but urged that the Federal Capital Territory High Court, where the defendant is standing trial in another matter, should be formally notified.

Justice Nwite thereafter adjourned the matter to Friday, January 30, 2026, for the continuation of testimony by PW7 and further hearing.