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Home»General News»Alleged ₦80.2bn fraud: Witness says ₦3.1bn LG funds lodged into e-traders account
General News

Alleged ₦80.2bn fraud: Witness says ₦3.1bn LG funds lodged into e-traders account

NewsdeskBy NewsdeskJanuary 30, 2026Updated:January 30, 2026No Comments3 Mins Read
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The trial of former Kogi State Governor, Yahaya Adoza Bello, continued on Thursday, January 29, 2026, before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, with further testimony from 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 of alleged money laundering involving ₦80.246 billion.

Led in evidence by prosecution counsel, Kemi Pinheiro, SAN, Egoro presented detailed transaction records relating to accounts operated by Fazab Business Enterprise and E-Traders International Limited, which he said received funds traced to Kogi State local government councils.

Fazab account transactions

Egoro testified that on May 6, 2022, the Fazab Business Enterprise account received 11 inflows from several Kogi local governments, including Yagba East, Yala, Ida and Okene. He added that on May 9, 2022, two inflows were received from Ibaji and Dekina LGAs.

According to him, total inflows stood at ₦103.37 million on May 6 and ₦14.56 million on May 9, bringing the cumulative sum to ₦117.94 million.

The witness said that shortly after the inflows, Yakubu Siyaka A. carried out multiple cash withdrawals between May 9 and May 26, 2022, totaling ₦116.6 million.

“Yes, my Lord, almost the entire inflow was withdrawn in cash,” Egoro confirmed, adding that by May 31, 2022, only about ₦1 million remained in the account.

For June and July 2022, the witness told the court that inflows from local governments amounted to ₦250.51 million, out of which ₦198.9 million was withdrawn in cash.

Egoro said the same inflow-and-withdrawal pattern continued from August to December 2022, during which ₦2.19 billion was credited to the account. He stated that total inflows from May to December 2022 stood at ₦2.56 billion.

“That is over ₦2.5 billion paid into the account of Fazab Business Enterprise from Kogi State local governments within eight months,” he said.

Total cash withdrawals by Yakubu Siyaka A. during the period, according to the witness, amounted to ₦582.3 million.

Transfers to companies, individuals

Beyond cash withdrawals, Egoro testified that the account recorded several transfers, including:

  • ₦94.36 million in August 2022 to Konforte Koncept Company and Abba Adaudu;
  • Transfers to Yagba East LGA, Shetland Logistics Services Ltd, and Ejadams Essence Ltd in September 2022;
  • ₦80 million transferred to Hadassah Katriel Global Enterprise in October 2022.

He added that Hadassah Katriel Global Enterprise received seven transfers totaling ₦430 million between October and December 2022.

E-traders international account

Turning to E-Traders International Limited, Egoro said Abdullahi Jamilu was the first signatory to the account.

He told the court that between July 26, 2021, and April 6, 2022, multiple cash deposits—mostly in tranches of ₦10 million—were made into the account at the Lokoja Branch of Access Bank by Abba Adaudu, Jamilu Abdullahi, Haruna Mohammed, and others.

In total, the witness said ₦3.145 billion was deposited into the E-Traders account within the eight months.

Although the deposits were made in Lokoja, Egoro stated that the account was opened at the Mararaba Branch of Access Bank, Nasarawa State, with the registered address along the Abuja–Keffi Expressway.

Passport application, adjournment

At the close of proceedings, defence counsel J.B. Daudu, SAN, informed the court of an application seeking the temporary release of Bello’s international passport to enable him undertake the lesser Hajj (Umrah) during Ramadan.

The prosecution said it did not oppose the request but urged that the FCT High Court, where Bello is facing another trial, be formally notified.

Justice Nwite adjourned the case to Friday, January 30, 2026, for the continuation of PW7’s testimony.

EFCC Federal High Court PW7
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