A compliance officer with Access Bank has continued his testimony on the alleged diversion of funds from Kogi State local government accounts in the ongoing trial of Yahaya Bello, former governor of the state.
The witness, Olomotane Egoro, appeared before the court on Thursday, where he explained how funds allegedly belonging to Kogi local governments were traced to the accounts of Fazab Business Enterprise and E-Traders International Limited.
Led in evidence by Kemi Pinheiro, SAN, counsel to the Economic and Financial Crimes Commission (EFCC), Egoro told the court that on May 6, 2022, there were 11 inflows into the account of Fazab Business Enterprise from different Kogi local government areas, including Yagba East, Yala, Ida and Okene.
Bello is currently facing trial at the Federal High Court in Abuja on a 19-count charge bordering on alleged money laundering amounting to ₦80.2 billion.
The prosecution tendered the statement of account of the company, which was shown to the witness.
Quizzed on transactions carried out on May 9, 2022, Egoro said there were two inflows into the account from Ibaji and Dekina local government areas of Kogi State.
According to him, the total inflows into the company’s account 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.
When asked to identify the individual who made cash withdrawals from the account, the witness named Yakubu Siyaka A., stating that he carried out withdrawals on several dates between May 9 and May 26, 2022.
Egoro said the cash withdrawals within the period amounted to ₦116.6 million, adding that almost the entire inflow was withdrawn, leaving a balance of about ₦1.08 million in the account by May 31, 2022.
He further told the court that between June and July 2022, there were consistent inflows from various Kogi local governments into the Fazab Business Enterprise account. According to him, total inflows for June stood at ₦108,793,086.69, while July recorded ₦141,718,056.30, bringing the combined inflow for the two months to ₦250,511,142.99.
The witness said cash withdrawals totalling ₦198.9 million were made from the account during the same period.
Egoro added that similar patterns of inflows and cash withdrawals were recorded in August, September, October, November and December 2022.
“This means that over ₦2.5 billion was paid into the account of Fazab Business Enterprise from Kogi State local governments within eight months, between May and December 2022,” he said, according to a statement by the EFCC.
He disclosed that transfers were also made from the Fazab account to other companies and individuals. In August 2022 alone, two transfers amounting to ₦94,364,450 were allegedly made from the account — ₦40 million to Konforte Koncept Company and ₦54,364,450 to one Abba Adaudu.
Testifying further on the statement of account of E-Traders International Limited, Egoro told the court that the company’s account opening documents listed Abdullahi Jamilu as the first signatory.
He narrated how multiple cash deposits were allegedly made into the account at the Lokoja branch of Access Bank.
According to him, on July 26, 2021, seven cash deposits of ₦10 million each were made by Abba Adaudu. On August 2, 2021, three cash deposits amounting to ₦30 million were recorded, followed by four deposits on August 19, 2021.
He added that Adaudu made 10 cash deposits of ₦10 million each on August 25, 2021, and six similar deposits on August 30, 2021.
Egoro further testified that five cash deposits totalling ₦50 million were made on August 31, 2021, while six deposits of ₦10 million each were recorded on September 2, 2021.
He told the court that on October 8 and 11, 2021, there were 10 cash deposits of ₦10 million each. Between November 8 and 10, 2021, there were 37 cash deposits, none exceeding ₦10 million, while five additional deposits of ₦10 million each were allegedly made on November 12, 2021.
