PW7: Kogi LG Funds Routed Through Private Accounts to Evade NFIU Reporting — Witness Tells Court
The trial of former Kogi State Governor, Yahaya Adoza Bello, on Friday, January 30, 2026, continued before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, with the Seventh Prosecution Witness (PW7), Olomotane Egoro, disclosing how inflows from Kogi State local governments were allegedly channelled into multiple private bank accounts in a structured manner to evade mandatory reporting to the Nigerian Financial Intelligence Unit (NFIU).
Egoro, a compliance officer with Access Bank Plc, testified that the transactions were deliberately broken into amounts below the ₦10 million Currency Transaction Report (CTR) threshold, thereby avoiding detection. Bello is being prosecuted by the Economic and Financial Crimes Commission (EFCC) on a 19-count charge bordering on money laundering involving ₦80,246,470,088.88.
Led in evidence by prosecution counsel, Kemi Pinheiro, SAN, the witness identified several bank statements tendered as exhibits, including accounts domiciled at the National Assembly and Lokoja branches of Access Bank. He explained that multiple cash deposits and transfers linked to local government inflows were structured to remain below reporting limits.
Egoro told the court that between April and May 2020, no fewer than 21 cash deposits, each below ₦10 million, were made into an account at the Lokoja Branch, adding that such transactions were indicative of deliberate structuring to evade CTR filing with the NFIU.
He further testified on transactions involving Keyless Nature Limited, noting that the company received several credit inflows from different local government areas of Kogi State between September 2021 and February 2024, which were immediately followed by transfers to another Keyless Nature Limited account in a different bank.
The witness also detailed activities on the account of Hayzma Business Enterprise, which allegedly received over ₦813 million from Kogi State local governments in August 2020 alone. He disclosed that within 12 days, more than ₦546 million was withdrawn in cash by one Yakubu Siyaka.
Despite objections by defence counsel, Abdulwahab Mohammed, SAN, Justice Nwite overruled, holding that the witness, as a professional, was competent to explain the nature and implications of the transactions.
At the close of proceedings, the defence requested additional time to review the documents tendered, a move opposed by the prosecution, which argued that the defence had had access to the records for over a year. Justice Nwite adjourned the matter to February 4 and 5, 2026, for cross-examination of PW7 and continuation of hearing.
