N5.6BN KOGI LGA FUNDS WAS PAID INTO COMPANIES’ ACCOUNT UNDER YAHAYA BELLO- WITNESS
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Olomotane Egoro, who works as a compliance officer at Access Bank, is still giving his testimony about how money was supposedly moved from accounts in Kogi LGA. This is part of the court case against Yahaya Bello, the former governor of the state. Bello is currently on trial at the federal high court in Abuja, and he faces 19 charges related to money laundering, which is said to involve a total of N80.2 billion.
Egoro appeared before the court on Thursday to explain how funds allegedly belonging to Kogi LGAs were traced to Fazab Business Enterprise and E-traders International Limited.
How 2.5 billion naira was paid into Fazab’s business account by Kogi LGA in eight months.
Led in evidence by Kemi Pinheiro, the prosecution counsel, Egoro told the court that on May 6, 2022, there were 11 inflows into the Fazab Business Enterprise account from different Kogi LGAs, including Yagba east, Yala, Ida, and Okene.
The prosecution counsel showed the statement of account of the company to the witness.
Asked to comment on the transactions made on May 9, 2022, the witness said there were two transactions on the day.
The compliance officer said the inflows came into the account from Ibaji and Dekina LGAs of Kogi state.
The witness stated that the total amount of money that went into the company‘s account on May 6, 2022, was N103,375,059.73. On May 9, 2022, there were two deposits totaling N14,563,702.56. When added together, the total amount became N117,938,762.29.
When asked to name the person who took out cash for these inflows, the witness named Yakubu Siyaka A.
He said that Siyaka withdrew cash on several dates: May 9, 10, 11, 13, 16, 17, 18, 19, 20, 23, 24, and 26, 2022.
The witness said the cash withdrawals made by Siyaka between May 9 and May 26, 2022, amounted to N116,600,000.
Asked if the entire inflows within the stipulated period were withdrawn, he responded in the affirmative.
The compliance officer told the court that by May 31, 2022, only a balance of about N1.08 million remained in the account of Fazab.
He added that between June and July 2022, there were consistent inflows from various Kogi LGAs to the company’s account.
He said that in June 2022, the total money coming into the account was N108,793,086.69. In July 2022, the amount increased to N141,718,056.30.Adding both months together, the total amount received was N250,511,142.99. He also told the court that during these two months, Siyaka took out cash from the account.
He disclosed that the total cash withdrawals in June and July 2022 summed up to N198,900,000.
Asked if almost N200 million was withdrawn in cash from the inflows of the two months, the witness responded in the affirmative.
He added that similar credit and withdrawal patterns also took place in August, September, October, November, and December 2022.
“That is over N2.5 billion paid into the account of Fazab Business Enterprise from Kogi state local governments within eight months, from May to December 2022,” the witness was quoted in a staement by EFCC.
He mentioned that money was also sent from the Fazab account to different companies and people.
He said in August 2022, two payments totaling N94,364,450 were sent from the account.
He explained that the N40 million was sent to Konforte Koncept Company, and the N54,364,450 went to Abba Adaudu.
N3.1 billion worth of Kogi LGA funds were deposited into the E-Tradiers International account.
The statement says that N3.1 billion in funds from the Kogi Local Government Area were deposited into the E-Tradiers International account.
When talking about the account statement of E-Tradiers International Limited, the witness explained that the company‘s account opening documents list Abdullahi Jamilu as the first person authorized to sign on behalf of the company.
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The compliance officer described how cash was deposited into the company‘s account.
He mentioned that on July 26, 2021, there were seven cash deposits, each amounting to N10 million, made by Adaudu.
“All these deposits were made at the Lokoja branch of Access Bank, the Kogi state capital,” the witness said.
Egoro said on August 31, 2021, there were five cash deposits totalling N50 million, while on September 2, 2021, there were six cash deposits of N10 million each by Adaudu at the Lokoja branch.
He stated that on October 8 and 11, 2021, there were 10 cash deposits of N10 million each by Adaudu.
According to the compliance officer, between November 8 and 10, 2021, there were 37 cash deposits by Adaudu, each not exceeding N10 million, while on November 12, 2021, there were five cash deposits of N10 million each, totalling N50 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 N10 million.
Egoro said Yusuf Abba made seven cash deposits on December 3 and 22, 2021, while on December 29 and 30, 2021, there were 12 cash deposits by Haruna Mohammed at the Lokoja branch.
He told the court that three individuals made cash deposits to the account.
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 account amounted to N3,145,569,654.
At the end of the testimony, J.B. Daudu, counsel to Bello, informed the court of an application seeking an order to release the former governor’s passport to enable him travel for the lesser Hajj during the month of Ramadan.
Emeka Nwite, the trial judge, granted the application.
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