Bank Witness Testifies Transactions in N110 Billion Kogi Fraud Case Followed Central Bank Guidelines

A senior compliance officer from Access Bank has testified that financial transactions at the center of a N110 billion fraud case against former Kogi State Governor Yahaya Bello were conducted in accordance with Central Bank of Nigeria (CBN) guidelines. The testimony emerged during proceedings before Justice Maryanne Anenih, where Mr. Bello stands trial alongside Umar Oricha and Abdulsalam Hudu on charges of criminal breach of trust involving N110,446,470,089.

The defendants have all pleaded not guilty to the allegations, which center on fund withdrawals from the Kogi State Government House Administration Account between 2016 and 2024. The case has drawn attention to oversight mechanisms governing state-level finances in Nigeria and the role of commercial banks in monitoring potentially suspicious transactions.

Background and Context

The prosecution's case revolves around a series of financial transactions conducted through the Kogi State Government House Administration Account and several private companies. According to court documents reviewed during proceedings, the account received regular credit inflows from the state government and saw multiple withdrawals by authorized signatories, including Aminu Jimoh Olanrewaju, identified as a civil servant and Director of Accounts in the Kogi State government.

The transactions in question include payments ranging from N7.3 million to N14.4 million from various local government areas to private companies, with stated purposes covering supplies of educational materials, sporting equipment, agrochemicals, farm inputs, and medical consumables. The scale and frequency of these transactions have raised questions about financial governance at the state level, particularly regarding procurement procedures and fund utilization oversight.

Key Figures and Entities

Yahaya Bello, who served as Governor of Kogi State until 2024, faces charges alongside Umar Oricha and Abdulsalam Hudu. Court records identify Aminu Jimoh Olanrewaju as a key signatory to the Government House Administration Account, holding the position of Director Accounts in the state government. Another signatory mentioned in testimony is Abdulsalami Hudu.

The investigation has examined transactions involving multiple companies, including Westwood Motors Limited, Fozad Oil and Gas Limited, Bespoque Global Concept Limited, E-Traders International Limited, Keyless Nature Limited, and Fazab Business Enterprise. These entities received payments from various local government areas within Kogi State for goods and services, according to bank statements presented as evidence.

Legal and Financial Mechanisms

Olomotane Egoro, a Compliance Officer with Access Bank who testified in court, stated that while multiple cash withdrawals occurred from the Government House account—including several N10 million withdrawals in January 2018—these transactions were processed in line with established CBN guidelines. The witness noted that the bank filed Suspicious Transaction Reports with the Nigerian Financial Intelligence Unit (NFIU) following standard banking protocols.

Court proceedings have examined the documentation underlying these transactions, with the prosecution presenting bank statements covering the period from January 2016 to January 2024. During testimony, Mr. Egoro confirmed specific transactions, including a N14.45 million payment for reading materials to Okene Local Government and a N10.6 million lodgement from Ibaji local government designated for agrochemicals.

The defense has challenged the admissibility of some documentary evidence, arguing that certificates of identification do not comply with the Evidence Act. However, Justice Anenih provisionally admitted the bank statements as exhibits, with their final admissibility to be determined later in the proceedings.

International Implications and Policy Response

While the case primarily concerns domestic financial governance, it highlights broader challenges in combating public sector corruption through existing financial oversight mechanisms. The involvement of the NFIU and the filing of Suspicious Transaction Reports demonstrate Nigeria's participation in international frameworks for financial crime prevention, even as questions persist about the effectiveness of these measures at the state level.

The trial brings attention to the intersection of state government finance, private sector procurement, and banking regulations—areas that anti-corruption advocates internationally have identified as particularly vulnerable to misuse. The outcome could influence future approaches to monitoring government accounts and may inform reforms to strengthen transparency in state-level financial management.

Sources

This report is based on courtroom proceedings and testimony from the ongoing trial at the Federal High Court, as reported by the News Agency of Nigeria. Information has been drawn from witness statements, court documents, and bank records presented as evidence in the case involving former Kogi State Governor Yahaya Bello and co-defendants Umar Oricha and Abdulsalam Hudu.