21/05/2025
Bank Officials Detail Alleged N3 Billion LGA Fund Diversion Linked to Yahaya Bello's Nephew
Bank officials have testified in the ongoing N3 billion fraud trial involving Ali Bello, nephew of former Kogi State Governor Yahaya Bello, and his co-defendants, revealing details of allegedly suspicious deposits and withdrawals linked to Kogi State Local Government Area (LGA) funds. The testimonies were delivered before Justice Obiora Egwuatu of the Federal High Court in Maitama, Abuja.
Remigius Egu, a Compliance Officer with Zenith Bank Plc, and Ofure Achille, Head of Operations at an Access Bank branch in Lokoja, took the stand as prosecution witnesses (PW6 and PW7 respectively) for the Economic and Financial Crimes Commission (EFCC). Their testimonies, around April and May 2025, painted a picture of how substantial sums were purportedly moved from LGA accounts into private entities and subsequently withdrawn or transferred.
Mr. Egu of Zenith Bank detailed how numerous large inflows from several Kogi State LGAs were traced to the account of Korforte Concept Limited. He told the court that prior to these inflows, which allegedly occurred on dates including October 4, 2018, and October 5, 2018, the balance in the Korforte Concept Limited account was minimal, reportedly as low as N7,370. Following these deposits, significant amounts were allegedly transferred to one of the defendants, Abba Adaudu. For instance, on October 4, 2018, after multiple LGA deposits, N110 million was reportedly moved from the Korforte account.
The Zenith Bank official listed several LGAs from which funds allegedly originated, including Ogori Magongo, Ibeji, Adavi, Kogi, Kabba/Bunu, Ajaokuta, Okene, Yagba West, Ofu, Igalamela/Odolu, Olamaboro, Dekina, Ibaji, Omala, Lokoja, Ijumu, and Bassa. Millions of Naira were reportedly deposited from each of these LGAs.
Similarly, Ms. Ofure Achille of Access Bank testified around May 20, 2025, about suspicious transactions involving inflows and rapid cash withdrawals from accounts linked to the defendants. She stated that her bank flagged multiple suspicious transactions, some involving hundreds of millions of Naira, and reported them to the Nigerian Financial Intelligence Unit (NFIU) as they did not match the financial profiles of the account holders.
Achille provided details on an account named E-traders account, operated by Jamilu Abdulahi, which allegedly saw multiple cash lodgments, including N30 million deposited on consecutive days in December 2021 and N40 million in January 2022. She also testified about lodgments into Ary Construction and Integrated Services from Kogi LGAs. In one instance, an account with a near-zero balance allegedly received N250 million, of which N150 million was withdrawn the same day. Another account, Killest's account with Fidelity Bank, also allegedly received significant transfers originating from LGA funds.
The EFCC, represented by lead counsel Rotimi Oyedepo, SAN, is prosecuting Ali Bello, who currently serves as the Chief of Staff to the incumbent Kogi State Governor, Usman Ododo, alongside Yakubu Isiaka Adabenege, Abba Adaudu, Iyada Sadat, and Rashida Bello (currently at large) on 18-count charges bordering on money laundering and misappropriation of public funds to the tune of over N3 billion. Some of the allegedly diverted funds were also reportedly used for the payment of school fees for former Governor Yahaya Bello's daughters at the American International School (AIS).
During cross-examination by defense counsel, including Nureni Jimoh, SAN, Mr. Egu reportedly stated that he did not investigate the lawfulness of the individual transactions when questioned.
The trial continues, with the court admitting bank documents as exhibits and scheduling further hearings. Ali Bello is also reportedly facing similar charges in another case before a different judge.
