N110.4bn fraud: EFCC witness links companies’ monthly inflows to Kogi LG accounts

By Ogundele Eniola

An operative of the Economic and Financial Crimes Commission (EFCC), John Justice, has told the Federal Capital Territory High Court in Maitama, Abuja, that most funds paid into the accounts of companies under investigation in the alleged N110.4 billion fraud case involving former Kogi State Governor Yahaya Bello came from local government accounts in the state on a monthly basis.

Justice made the disclosure on Tuesday while testifying as the prosecution’s 20th witness before Justice Maryanne Anineh.

Bello is standing trial alongside Umar Shuaibu Oricha and Abdulsalami Hudu on a 16-count charge bordering on alleged criminal breach of trust and money laundering involving N110.4 billion. The charges remain before the court.

Led in evidence by prosecution counsel Kemi Pinheiro, SAN, Justice said investigators obtained and analysed bank records to trace the movement of funds through several companies linked to the investigation.

He said an examination of the account statement of Forza Business Enterprise showed that most of its inflows originated from Kogi State local government accounts and were received regularly.

“Most of the funds coming into the account were funds from Kogi State Local Government accounts coming on monthly basis,” he told the court.

The witness further said the EFCC’s analysis showed that funds were transferred into the companies’ accounts, while some transactions were recorded as cash withdrawals.

According to Justice, investigators invited officials of Access Bank and Zenith Bank and obtained closed-circuit television (CCTV) footage to examine the large sums recorded as withdrawals.

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He told the court that the footage showed the money was not physically taken out of the banks. Instead, some transactions involved customers completing withdrawal cheques and depositing the corresponding funds into different accounts.

Justice said the investigation began after the EFCC’s Procurement Fraud Section received intelligence concerning the activities of local governments in Kogi State. Companies mentioned in the investigation included Hayzma, Bibas Energy, Forza Oil and Gas, and Keyless Ventures.

He added that investigators conducted Bank Verification Number (BVN) searches and requested transaction records from the relevant banks to identify account holders and trace the movement of funds.

The EFCC alleges that the funds formed part of money diverted from the Kogi State treasury during Bello’s tenure as governor. Bello and his co-defendants have denied the allegations and are entitled to the presumption of innocence while the trial continues.

The court adjourned the case to November 24, December 2 and December 8, 2026, for further proceedings.