Revealed: How Kogi state LG funds were allegedly Laundered

Legit.ng writer Ridwan Adeola Yusuf has implicit 9 years of acquisition covering nationalist affairs and governance.

FCT, Abuja - The sixth prosecution witness, PW6, Remigius Egu successful the proceedings of Ali Bello, Yakubu Isiaka Adabenege, Abba Adaudu, and Iyada Sadat, narrated however funds allegedly belonging to assorted section authorities areas (LGAs) of Kogi state were allegedly diverted and laundered done backstage accounts.

Per a connection by the Economic and Financial Crimes Commission (EFCC), Egu testified connected Tuesday, April 8, earlier Justice Obiora Egwuatu of the national precocious court, Maitama, Abuja.

'How Kogi funds nether Yahaya Bello were allegedly laundered'

Legit.ng reports that the EFCC is prosecuting the quartet connected 18-count charges, bordering connected money laundering and misappropriation of nationalist funds to the tune of implicit N3 billion.

Bello, the archetypal suspect is nephew of the erstwhile Kogi authorities governor, Yahaya Bello arsenic good arsenic the Chief of Staff (CoS) to Kogi authorities governor, Usman Ododo.

Led successful grounds by the prosecution counsel, Rotimi Oyedepo (SAN), the witness, a compliance serviceman with Zenith Bank identified documents marked “Exhibits E and E1” arsenic having originated from Zenith Bank. He besides reportedly confirmed that a missive dated March 16, 2022, addressed to the EFCC conal commander, pertained to an relationship belonging to a customer, Adabenege, the 2nd defendant, and contained transaction grounds from the bank.

In his breakdown of the transactions, the witnesser told the tribunal that aggregate inflows of ample sums of wealth from respective Kogi State LGAs were traced to the relationship of Korforte Concept Limited connected October 4, 2023. These helium said were arsenic 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.

He said:

Before the inflows, the witnesser disclosed that the equilibrium successful the Korforte Concept Limited relationship was a specified N7,370 and that connected the aforesaid day, a transaction of N110 cardinal was made from the relationship to Adaudu 1 of the defendants.

He further revealed that connected October 5, 2018, much funds were funnelled into the aforesaid relationship from further 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; Lokoja LGA: N20,591,073.74. He besides disclosed that a transfer of N21.9 cardinal to 1 Musa Omuya was made from the relationship that aforesaid day.

Further successful his testimony, the witnesser disclosed that determination were much inflows into the relationship connected October 8, 2018, being N17,369,243.52 from Ijumu LGA and N17,471,549.57 from Bassa LGA.

On October 10, 2018, helium said that transactions from the relationship showed N10 million, wired to Musa Omuya and N5.1 cardinal and N5 million, respectively, wired to Adaudu.

Earlier successful the proceedings, the Fifth Prosecution Witness, PW5, Oyinkosola Akerele Shukurat, the managing manager (MD) of Forza Oil and Gas Limited, disclosed that the company, which besides engages successful overseas speech transactions, received a outgo from a customer, named Abdul Bashir for the acquisition of U.S. dollars.

Furthermore, she disclosed that the dollars that were procured were sent to 4 beneficiaries, 3 of whom were identified arsenic Fatima Bello, Na’ima Bello, and Zara Bello, for the outgo of their schoolhouse fees astatine the American International School (AIS), totalling $139,000.

Alleged N3 cardinal fraud successful Kogi: Judge adjourns matter

When shown Page 14 and 15 of “Exhibit D” series, the witnesser identified a outgo of $49,600, with $44,700 sent to AIS connected behalf of Fatima Bello. On Page 23 of the aforesaid exhibit, she confirmed different $44,700 outgo for Fatima Bello. The last transaction, according to her, was $44,700 for Na’ima Bello.

She was cross-examined by defence counsel A.M. Aliyu (SAN) and Nureini Jimoh, SAN.

Justice Egwuatu adjourned the substance till May 5, 19, 20, and 21, 2025, for continuation of trial.

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Source: Legit.ng