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From Sola Ojo, Abuja
A prosecution witness on Wednesday told the Federal Capital Territory High Court in Abuja that a N2.1 billion loan obtained by a company linked to former Kogi State governor, Yahaya Adoza Bello, was allegedly repaid with funds traced to local government accounts in the state.
Testifying before Justice Maryanne Anineh, the 10th prosecution witness, Olomotane Egoro, a compliance officer with Access Bank, gave details of transactions involving several bank accounts allegedly connected to the movement of public funds.
Led in evidence by prosecution counsel, Kemi Pinheiro, SAN, Egoro disclosed that on December 14, 2021, a loan of N2.1 billion was disbursed into the account of Keyless Nature Limited.
He said the facility was utilised and that between December 2021 and July 2022, multiple credits from various Kogi State local government accounts were paid into the same account.
According to the witness, loan repayments made between January and May 2022, including interest, were sourced from Kogi State local governments.
He added that repayments were consistently made around the 14th of each month, with the same pattern continuing up to December 2022.
Egoro also testified on transactions involving Westwood Motors Limited, stating that a loan of about N818 million was disbursed in 2018 and later repaid through numerous cash deposits made by individuals at Access Bank’s Lokoja branch, despite the account being domiciled in Abuja.
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On the Kogi State Government House account, the witness said there were several inflows followed by immediate cash withdrawals by two individuals, Aminu Jimoh Olarenwaju and Abdulsalami Hudu.
He revealed that in some instances, the withdrawals were up to N100 million in a day, prompting the bank to file Suspicious Transaction Reports (STRs) to the Nigerian Financial Intelligence Unit (NFIU).
He further told the court that similar patterns were observed in the accounts of Fazab Business Enterprise, Hayzma Business Enterprise, E-Traders International Limited and Keyless Nature Limited, where funds from Kogi local governments were credited and subsequently withdrawn in cash by individuals, including Yakubu Adabenege Siyaka and Abba Adaudu.
Egoro explained that many of the withdrawals were structured to evade reporting thresholds, although the bank still filed STRs.
Under cross-examination by defence counsel, P.B. Daudu, SAN, the witness said he was not the relationship manager of the accounts but testified in his capacity as a compliance officer.
He also confirmed that copies of the STRs could not be produced in court, as banking regulations prohibit their disclosure.
Justice Anineh admitted several subpoenaed bank documents tendered by the prosecution as exhibits and adjourned the matter to March 10, 11 and 12, 2026, for continuation of trial.
