N80.2bn Kogi: LG funds paid into multiple private accounts

From Sola Ojo, Abuja

The trial of former Kogi State governor, Yahaya Adoza Bello, continued on Friday, before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, with a prosecution witness revealing that funds from Kogi State local governments were paid into multiple private bank accounts in a manner designed to evade financial reporting requirements.

The seventh prosecution witness (PW7), Olomotane Egoro, a compliance officer with Access Bank Plc, told the court that the inflows were structured below the reporting threshold in order to avoid Currency Transaction Reports (CTR) to the Nigerian Financial Intelligence Unit (NFIU).

Bello is standing trial on a 19-count charge of money laundering brought against him by the Economic and Financial Crimes Commission (EFCC), involving the alleged sum of N80.2 billion.

Led in evidence by prosecution counsel, Kemi Pinheiro, SAN, Egoro identified several bank statements tendered as exhibits and explained that some of the transactions were deliberately broken into smaller amounts to stay below N10 million, which is the mandatory reporting threshold for corporate accounts.

According to the witness, one of the accounts examined recorded 21 separate cash deposits between April and May 2020 at the Lokoja branch of Access Bank, all below N10 million.

He explained that such structuring is a known method used to evade regulatory scrutiny.

Egoro further testified on the statement of account of Keyless Nature Limited, domiciled at Access Bank’s Lokoja branch, which showed multiple credit inflows from different local governments in Kogi State between 2021 and 2024.

He said that shortly after these inflows, corresponding transfers were made to another Keyless Nature Limited account at Fidelity Bank.

At the close of proceedings, the defence requested more time to study the documents tendered before commencing cross-examination.

Justice Nwite adjourned the case to February 4 and 5, 2026, for cross-examination of the witness and continuation of trial.