Alleged N110bn fraud: Transactions made in-line with CBN guidelines- EFCC witness

A prosecution witness, Olomotane Egoro, in the trial regarding an alleged N110 billion fraud involving former Kogi Governor Yahaya Bello, has testified that financial transactions conducted were in line with Central Bank of Nigeria (CBN) guidelines.

Bello is standing trual before Justice Maryanne Anenih alongside Umar Oricha and Abdulsalam Hudu.

They were alleged to have committed criminal breach of trust in respect of the sum of N110,446,470,089, among others.

Bello and his co-defendants, however, pleaded not guilty to the charge.

Egoro, a Compliance Officer with Access Bank Plc, said he had been working with the bank since May 2023.

He said that one Aminu Olanrewaju, who was earlier said to have made withdrawals from the Kogi Government House Administration Account was one of the signatories to the account.

Under cross-examination by Paul Daudu, SAN, he said that from the details in the account opening package, Olanrewaju was a civil servant and Director Accounts in the Kogi State government

The witness said being an Access Bank official, he was not privy to the workings of the state government house account.

He said as a result he could not state what the funds that were withdrawn were meant for except for those that were detailed in the transactions.

The witness said that the former governor was neither a local government chairman nor was his name linked to any of the transactions presented before the court.

He spoke in relation to the transactions between the various Local Government Areas in Kogi and Fazab Business Enterprise, and others.

“Go to transaction of May 6, 2022, can you confirm to this Honourable Court if you can see supply of reading material to Okene Local Government?” Paul Daudu SAN asked.

“Yes my lord, I can confirm that it is for supply of reading materials to Okene Local Government and the amount is N14,453,900.84,” the witness responded.

According to the witness, the purposes of other payments ranged from sporting equipment to agrochemicals, farm inputs and also medical consumables.

The witness said a N10.6 million lodgement from Ibaji local government statutory revenue was for the purpose of Agrochemicals while the N7.3 million from Mopa Muro Local Government was for the supply of relief materials.

According to him, N9.9m (Ofu Local Government) was for the procurement of Agrochemicals, among others.

Earlier, during the witness evidence in chief admitted in evidence, the subpoena signed by the Managing Director of Access Bank.

The subpoena contains the statements of account of Kogi State Government House Administration, from January 2016 to January 2024.

It also contains the statements of accounts of Westwood Motors Limited, Fozad Oil and Gas Limited, Bespoque Global Concept Limited, E-Traders International Limited, and Keyless Nature Limited, among others.

Counsel to the 2nd and 3rd Defendants, ZE Abbas, objected to the admissibility of the documents, saying that the certificate of identification did not comply with the Evidence Act.

He said he would provide full reason during his final written address.

The prosecution counsel, Kemi Pinheiro, SAN, described the objection as a fishing expedition, adding also that he would give his reason during his final written address.

The court, admitted the documents, noting that admissibility in evidence would be determined subsequently, when necessary, if the objection could be justifiably defended.

The Kogi Government House Account was marked Exhibit AH1 and AH2, while the other 11 companies’ statements were labelled from AG to AR.

The prosecution counsel showed the witness Exhibit AH1, Kogi Government House Administration Account, from December 2018 to August 2019, and confirm the credit inflows from Kogi State Government House.

He was also told to confirm that there were withdrawals by one Aminu Jimoh Olarenwaju and Abdulsalami Hudu, which he did.

” Can you confirm the cash withdrawals on the December 24, 2018? What is your evidence in relation to those withdrawals?” Pinheiro SAN asked.

The witness said there were multiple cash withdrawals from the account, noting that the bank filed Suspicious Transaction Report with the Nigerian Financial Intelligence Unit, NFIU, in line with standard practice.

He noted that there were multiple withdrawals of N10 million each between January 15 and January 16, 2018 by Aminu Jimoh Olanrewaju, and on March 8, by Abdulsalami Hudu.

The Prosecution Counsel also told the witness to tell the court what the credit entry to Exhibit AP (Fazab Business Enterprise) was in May 2022.

He said there were several credit inflows from local government areas into the account and cash withdrawals by Yakubu Siyaka Adabenege.

The witness, however, said during cross-examination that no law was flouted in the transactions, saying that the withdrawals were in line with CBN guidelines.

Justice Maryann Anenih after listening adjourned unitl March 10, 2026 for continuation of cross examination of the witness.