An Access Bank compliance officer has detailed how funds from Kogi State local government accounts were allegedly traced to private company accounts in the ongoing trial of former governor Yahaya Bello.
An Access Bank compliance officer, Olomotane Egoro, continued his testimony on Thursday in the trial of former Kogi State Governor Yahaya Bello, who faces 19-count charges of alleged money laundering amounting to ₦80.2 billion. Egoro explained how funds allegedly belonging to Kogi local governments were traced to the accounts of Fazab Business Enterprise and E-Traders International Limited. Led in evidence by Kemi Pinheiro, SAN, counsel to the Economic and Financial Crimes Commission (EFCC), he told the court that on May 6, 2022, there were 11 inflows into Fazab’s account from local government areas including Yagba East, Yala, Ida, and Okene.
Quizzed on transactions carried out on May 9, 2022, Egoro said there were two inflows from Ibaji and Dekina local governments, amounting to ₦14,563,702.56. He said the total inflows into the company’s account on May 6, 2022, amounted to ₦103,375,059.73, bringing the cumulative sum for the two dates to ₦117,938,762.29. When asked to identify who made cash withdrawals from the account, the witness named Yakubu Siyaka A., adding, “he carried out withdrawals on several dates between May 9 and May 26, 2022.” Egoro noted that withdrawals during the period totaled ₦116.6 million, leaving a balance of about ₦1.08 million by May 31, 2022.
The witness further informed the court that between June and July 2022, there were consistent inflows from various Kogi local governments into Fazab Business Enterprise’s account. He said, “total inflows for June stood at ₦108,793,086.69, while July recorded ₦141,718,056.30,” bringing the combined inflow for the two months to ₦250,511,142.99. The prosecution also tendered the company’s statement of account, which was shown to Egoro during his testimony.