Yahaya Bello Trial: BDC Operator Details ₦1.4B Forex Transactions in Court

ABUJA, NIGERIA — A bureau de change (BDC) operator testifying in the corruption trial of former governor of Kogi State, Yahaya Bello, has told a Federal Capital Territory (FCT) High Court about how transactions totaling ₦1.425 billion were executed for foreign currency purchases between December 15, 2021, and February 21, 2022.

The witness, Jamilu Abdullahi, appearing as the 19th prosecution witness (PW19), stated that the purchased foreign currencies were consistently delivered to an associate, Abba Adaudu.

Testifying before Justice Maryanne Anineh, Abdullahi was led in evidence by the prosecution counsel, Kemi Pinheiro, SAN. He detailed various cash lodgments and electronic transfers into his personal and corporate accounts, maintaining they were strictly for foreign exchange purposes on behalf of Adaudu.

Unfamiliar Bank Branches and Used Names

During the proceedings, the prosecution presented Exhibit AR, a document detailing financial transactions between July 2021 and April 2022. Abdullahi confirmed receiving multiple cash lodgments of ₦10 million each made through a bank branch in Lokoja.

“My lord, I confirm the cash lodgments of ten million Naira by Abba Adaudu from the Lokoja branch. My lord, I confirm I received the cash lodgments. It wasn’t for a gift but for a forex transaction,” Abdullahi testified, clarifying that the funds were used to buy United States dollars.

The witness also identified a January 18, 2022, transfer from Keyless Limited, a company he linked to Adaudu.

However, discrepancies arose regarding specific cash lodgments from February 22, 2022, which included sums of ₦9 million, ₦8 million, and another ₦8 million recorded under Abdullahi’s name at the Lokoja branch. Abdullahi denied depositing the funds himself.

“In fact, I have never been to that branch in my life, but my name has been used as a beneficiary, as any other person’s name can be used as the receiver, and it was a dollar transaction for Abba Adaudu,” he said.

Pattern of Currency Deliveries

Abdullahi raised similar objections regarding multiple cash lodgments credited to his name on March 10 and 11, 2022, reiterating that he had never visited the Kogi State capital’s branch. He explained that the names appearing in the bank narrations were determined by Adaudu’s instructions.

“My lord, I get to know the cash was paid on Abba Adaudu’s behalf because whenever he makes a lodgment of cash in my account, the indicating narration is Abba Adaudu or Jamilu Abdullahi or any other name of their choice,” the witness added. “My lord, I always send the converted forex to Abba Adaudu. All the transactions at Lokoja were from Abba Adaudu.”

Further examining Exhibit AK, which detailed his personal Access Bank account at the Aminu Kano branch in Abuja, Abdullahi acknowledged entries of ₦10 million each on late December 2021 and January 2022 dates. He again maintained they were deposits initiated by Adaudu for dollar exchanges.

According to the witness, the physical delivery of the converted United States dollars occurred interchangeably between his own office and Adaudu’s office located in Area 8, Garki, Abuja.

The trial continues as the court examines further financial records tied to the case.