EFCC Exposes ₦110.4bn Kogi Funds Route in Yahaya Bello Trial

ABUJA, NIGERIA — An operative of the Economic and Financial Crimes Commission (EFCC) revealed in court on Tuesday how millions of Naira from Kogi State local government accounts were systematically funneled into private corporate accounts on a monthly basis.

The transaction trail forms the backbone of the ongoing ₦110.4 billion corruption trial of former Kogi State Governor, Yahaya Bello. Testifying before Justice Maryanne Anenih at the Federal Capital Territory (FCT) High Court in Maitama, John Justice, the twentieth prosecution witness (PW20), detailed how the anti-graft agency intercepted and untangled an intricate web of alleged money laundering and criminal breach of trust.

Bello is standing trial alongside co-defendants Umar Shuaibu Oricha and Abdulsalami Hudu on a 16-count criminal charge.

The Local Government Funding Pipeline

Led in evidence by senior prosecution counsel Kemi Pinheiro, SAN, Justice explained that the probe originated from actionable intelligence received by the EFCC’s Procurement Fraud Section regarding suspicious financial activities across Kogi State local governments.

A subsequent Bank Verification Number (BVN) sweep flagged a cluster of companies, including Forza Business Enterprise, Forza Oil and Gas, Hayzma Business Enterprise, Bibas Energy, and Keyless Ventures (also known as Keyless Nature).

“Our analysis of Forza Business Enterprise’s statement of account showed that most of the funds coming into the account were funds from Kogi State Local Government accounts coming on a monthly basis,” Justice told the court.

CCTV Blows the Cover on ‘Fake’ Cash Withdrawals

The operative, a nine-year veteran of the EFCC specializing in asset tracing, uncovered a pattern where massive state inflows were recorded on paper as direct “cash withdrawals”.

Because of the staggering volume of cash supposedly being walked out of bank doors, investigators subpoenaed CCTV footage from Access Bank and Zenith Bank. The video evidence contradicted the ledger entries.

“The footage showed that the large sums recorded as withdrawals were not physically taken out of the banks,” Justice testified. “What this means is: a customer walks into the bank, he fills out a cheque withdrawal and a deposit slip to a different account.”

By routing state funds through simultaneous paper withdrawals and instant re-deposits, the actors allegedly obscured the direct line between public treasuries and private corporate entities.

Ties to Hidden Identities

The witness further verified several sensitive prosecution documents, identifying Exhibit AO as records for Hayzma Business Enterprise, Exhibit AT for Keyless Nature, and Exhibit AP for Forza Business Enterprise.

He noted that deep-dive BVN searches linked Keyless Nature to an individual named Abba Adaudu, while previous searches in the loop returned the names Yakubu Siyaka Adebenege and Iyadat Sa’adat.

The prosecution also cemented the credentials of its investigator. Justice confirmed he underwent specialized training at the EFCC Academy in advanced fee fraud, anti-money laundering, and asset tracing. He worked as part of a multi-layered asset team alongside investigators Emeka Okonjo, Adamu Umar, Hamza Lawal, and Dauda Usman, under the agency’s Chairman Monitoring Unit led by Adamu Tilde.

Trial Postponed to Late November

Tuesday’s testimony followed the swift conclusion of cross-examinations for the nineteenth prosecution witness (PW19), Jamilu Abdullahi, a Bureau de Change operator. Defense counsels J.B. Daudu, SAN (for the first and second defendants) and Z.E. Abbas (for the third defendant) completed the legal drill of Abdullahi, who was subsequently discharged without re-examination from the state.

With the financial pipeline now laid bare by the executive investigators, Justice Anineh adjourned the matter. The high-profile trial is scheduled to resume on November 24, December 2, and December 8, 2026, for the continuation of the prosecution’s case.