An operative of the Economic and Financial Crimes Commission (EFCC) has told the Abuja Division of the Federal Capital Territory High Court that most funds credited to the accounts of companies investigated in the alleged ₦110.4 billion fraud involving former Kogi State Governor Yahaya Bello came from state local government accounts every month.
In a statement on Tuesday, the commission said operative John Justice disclosed this while testifying as the prosecution’s 20th witness before Justice Maryanne Anineh at the Maitama division of the court.
Mr Bello is being prosecuted alongside Umar Shuaibu Oricha and Abdulsalami Hudu on a 16-count charge bordering on criminal breach of trust and money laundering involving ₦110.4 billion.
Led in evidence by the prosecution counsel, Kemi Pinheiro (SAN), Mr Justice said the EFCC obtained and analysed bank records to trace the movement of funds through several companies under investigation.
According to him, the responses received from the banks were analysed, leading to the identification of Keyless Ventures as another company that benefited from proceeds traced to the companies.
He explained that the analysis of Forza Business Enterprise’s statement of account showed that most of the funds credited to the account came from Kogi State local government accounts every month.
“Most of the funds coming into the account were funds from Kogi State Local Government accounts coming on a monthly basis,” he said.
Mr Justice said investigators also found that the companies received inflows from Kogi State, while some transactions were recorded as cash withdrawals.
“Our analysis reveals that these companies were receiving inflows from Kogi State while transactions were treated as cash withdrawals,” he said.
According to the witness, the commission subsequently invited officials of Access Bank and Zenith Bank and requested closed-circuit television (CCTV) footage to investigate the large volumes of cash recorded in the transactions.
He said the footage showed that the large sums recorded as withdrawals were not physically taken out of the banks.
Explaining the transactions, Mr Justice said customers would present a cheque withdrawal and a deposit slip for a different account, suggesting that some transactions recorded as cash withdrawals involved transfers into other accounts.
Earlier, the witness told the court that the investigation followed intelligence received by the EFCC’s Procurement Fraud Section concerning the activities of local governments in Kogi State.
He said the intelligence mentioned several companies, including Hayzma, Bibas Energy, Forza Oil and Gas, and Keyless Ventures.
Mr Justice said investigators conducted Bank Verification Number (BVN) searches and requested information from the relevant banks, whose responses were subsequently analysed.
While examining documents tendered in evidence, he identified exhibits relating to Hayzma Business Enterprise, Keyless Nature and Forza Business Enterprise.
He also told the court that a BVN search relating to Keyless Nature revealed the name Abba Adaudu, while earlier searches returned the names Yakubu Siyaka Adebenege and Iyadat Sa’adat.
The witness said he had worked as an EFCC operative for more than nine years and received training in asset tracing, internet fraud, anti-money laundering and advance-fee fraud, among other areas.
He also identified Emeka Okonjo, Adamu Umar, Hamza Lawal and Dauda Usman as members of the investigation team.
Earlier in the proceedings, the defence lawyers concluded their cross-examination of the prosecution’s 19th witness, Jamilu Abdullahi, a Bureau de Change operator.
Following the prosecution’s decision not to re-examine him, Mr Abdullahi was discharged after his testimony.
Justice Anineh adjourned the trial until November 24, December 2 and December 8, 2026, for continuation.
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