Court Hears How ₦80 Billion Kogi Local Government Funds Were Withdrawn in Cash in Yahaya Bello Trial

Court testimony has revealed how billions of naira intended for Kogi State local governments were allegedly funneled through corporate accounts and systematically withdrawn in cash, as part of an ongoing trial of former Governor Yahaya Adoza Bello facing 19-count money laundering charges totaling ₦80.2 billion at the Federal High Court in Abuja.

The dramatic revelations emerged during testimony by a compliance officer from Access Bank, who detailed intricate transactions through two companies—Fazab Business Enterprise and E-traders International Limited—that allegedly received funds from multiple Kogi local government councils before being rapidly drained through cash withdrawals and transfers.

Background and Context

The case against Bello, who governed Kogi State from 2016 to 2024, represents one of Nigeria's largest alleged public fund misappropriation cases. The Economic and Financial Crimes Commission (EFCC) accuses the former governor of orchestrating a sophisticated money laundering scheme involving ₦80,246,470,088.88. The current trial before Justice Emeka Nwite follows mounting scrutiny of state-level financial management in Nigeria, where local government allocations have historically been vulnerable to diversion and misuse.

Key Figures and Entities

According to court testimony, the funds flowed through two primary corporate conduits: Fazab Business Enterprise and E-traders International Limited. Witness Olomotane Egoro, a compliance officer with Access Bank, identified Yakubu Siyaka A. as the individual who executed ₦582.3 million in cash withdrawals from the Fazab account between May and December 2022. Other individuals implicated through transaction records include Abba Adaudu, Jamilu Abdullahi, and Haruna Mohammed, who allegedly made numerous cash deposits into the E-traders account totaling over ₦3.1 billion between July 2021 and April 2022. These transactions occurred primarily at Access Bank's Lokoja branch in Kogi State, despite the E-traders account being opened at the Mararaba branch in neighboring Nasarawa State.

Legal and Financial Mechanisms

The prosecution's evidence reveals a systematic pattern of fund movement designed to obscure the paper trail. Court records show that Fazab Business Enterprise received ₦2.56 billion from various Kogi local government councils between May and December 2022, including Yagba East, Yala, Ida, Okene, Ibaji, and Dekina. These inflows were followed by immediate cash withdrawals—nearly ₦582 million in total—as well as transfers to other entities including Konforte Koncept Company (₦40 million), Abba Adaudu (₦54.3 million), and Hadassah Katriel Global Enterprise (₦430 million across seven transfers). The E-traders account exhibited similar patterns with structured cash deposits deliberately kept below ₦10 million thresholds, totaling ₦3.14 billion over eight months, suggesting potential evasion of reporting requirements.

International Implications and Policy Response

The scale and sophistication of the alleged fraud underscore persistent challenges in Nigeria's anti-corruption framework, particularly regarding financial transparency and local government fund management. The case highlights how corporate structures and banking channels can allegedly be exploited to divert public resources, despite existing regulatory oversight by bodies like the Central Bank of Nigeria. As the trial continues, advocacy groups have called for strengthened mechanisms to protect local government allocations and enhanced inter-agency cooperation to track suspicious financial activities across state boundaries. The EFCC's pursuit of this case signals ongoing efforts to address systemic corruption despite institutional challenges.

Sources

This report draws on court testimony from the Federal High Court Abuja proceedings, exhibits presented by the Economic and Financial Crimes Commission, and public statements regarding the charges against former Governor Yahaya Bello. The testimony referenced includes bank statements from Access Bank Plc and evidence presented during the trial before Justice Emeka Nwite between January 29-30, 2026.