‘N3bn fraud’: EFCC witness narrates how Kogi LG funds were laundered through private accounts

A witness of the Economic and Financial Crimes Commission (EFCC) has recounted to a federal high court in Abuja how funds belonging to various LGAs in Kogi state were allegedly diverted and laundered through private accounts.

Remigius Egu, the witness, gave the account on Tuesday while testifying in the case against Ali Bello, chief of staff to Usman Ododo, Kogi state governor.

The EFCC is prosecuting Bello alongside Yakubu Adabenege, Abba Adaudu and Iyada Sadat on an 18-count charge, bordering on money laundering and misappropriation of public funds to the tune of over N3 billion.

Led in evidence by Rotimi Oyedepo, prosecution counsel, the witness, a compliance officer with Zenith Bank, identified documents containing transactions that he said belonged to the second defendant, Adabenege.

According to a statement by the EFCC, “the witness told the court that multiple inflows of large sums of money from several Kogi State LGAs were traced to the account of Korforte Concept Limited on October 4, 2023”.

“These, he said, were as follows: Ogori Magongo LGA: N14,844,640.57; Ibeji LGA: N18,629,944.51; Adavi LGA: N20,887,557.54; Kogi LGA: N17,929.59; Kabba/Bunu LGA: N18,460,569.12; Ajaokuta LGA: N22,764,334.70; Okene LGA: 20,758,710.37; Yagba West LGA: N18,234,063.61; Ofu LGA: N21,368,633.69,” the statement reads.

The witness told the court that all inflows were received on October 4, 2023.

Before the inflows, the witness told the court that the balance in the Korforte Concept Limited account was N7,370 and that on the same day, a transaction of N110 million was made from the account to Adaudu, one of the defendants.

“He further revealed that on October 5, 2018, more funds were funnelled into the same account from additional LGAs that included Igalamela/Odolu LGA: N19,480,651.20; Olamaboro LGA: N19,089,517.01; Dekina LGA: N23,373,201.67; Ibaji LGA: N15,653,631.39; Omala LGA: N16,876,252.03; and Lokoja LGA: N20,591,073.74. He also disclosed that a transfer of N21.9 million to one Musa Omuya was made from the account that same day,” the EFCC statement added.

“Further in his testimony, the witness disclosed that there were more inflows into the account on October 8, 2018, being N17,369,243.52 from Ijumu LGA and N17,471,549.57 from Bassa LGA.

“On October 10, 2018, he said that transactions from the account showed N10 million wired to Musa Omuya and N5.1 million and N5 million, respectively, wired to Adaudu.”

Earlier in the proceedings, the fifth prosecution witness, Oyinkosola Akerele, the managing director of Forza Oil and Gas Limited, testified that the company—which also deals in foreign exchange transactions—received a payment from a customer, Abdul Bashir, for the purchase of US dollars.

Akerele further stated that the procured dollars were transferred to four beneficiaries. Three of them—Fatima Bello, Na’ima Bello, and Zara Bello (all children of Yahaya Bello, former governor of Kogi)—received the funds as payment for their school fees at the American International School (AIS), amounting to $139,000.

Obiora Egwuatu, presiding judge, adjourned the matter till May 5, 19, 20, and 21 for the continuation of the trial.