EFCC Uncovers How Kogi LG Funds Fueled Alleged ₦110.4bn Fraud

​The Economic and Financial Crimes Commission (EFCC) has brought forward fresh details in the ongoing trial of former Kogi State Governor Yahaya Bello, revealing how local government accounts were allegedly used to funnel billions into private entities.

​Testifying before Justice Maryanne Anineh of the Federal Capital Territory (FCT) High Court in Maitama, Abuja, an EFCC operative, John Justice, detailed how monthly transfers from Kogi local government councils formed the bulk of credits traced to companies linked to the high-profile case.

​A Complex Web of Funds

​Bello stands trial alongside Umar Shuaibu Oricha and Abdulsalami Hudu on a 16-count charge bordering on criminal breach of trust and money laundering involving a staggering ₦110.4 billion.

​Taking the stand as Prosecution Witness 20 (PW20), Justice—who boasts over nine years of experience with the anti-graft agency—explained that the investigation originated from intelligence received by the EFCC’s Procurement Fraud Section regarding local government activities in the state.

​Led in evidence by prosecution counsel Kemi Pinheiro, SAN, the witness stated that investigators requested transaction records for several entities, including Hayzma Business Enterprise, Bibas Energy, Forza Oil and Gas, and Keyless Ventures.

​”Most of the funds coming into the account were funds from Kogi State Local Government accounts coming on a monthly basis,” Justice told the court, adding that subsequent Bank Verification Number (BVN) searches linked individuals such as Abba Adaudu, Yakubu Siyaka Adebenege, and Iyadat Sa’adat to the accounts.

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​The ‘Paper Withdrawal’ Illusion

​A critical turning point in the testimony exposed the mechanics behind how the funds were allegedly managed. According to the operative, analysis of Forza Business Enterprise’s account statement showed that massive inflows from the state were systematically treated as cash withdrawals.

​Faced with unusually large transaction volumes, investigators summoned officials from Access Bank and Zenith Bank to review CCTV footage. To the astonishment of the anti-graft team, the physical video evidence contradicted the bank ledgers.

​”The footage showed that the large sums recorded as withdrawals were not physically taken out of the banks,” Justice explained.

​Describing the modus operandi, he noted that a customer would walk into a banking hall, fill out a cheque for withdrawal, and simultaneously complete a deposit slip routing the funds into a completely different account, effectively masking the trail.

​Next Steps in the Trial

​Earlier in the proceedings, defense counsel J.B. Daudu, SAN (representing the first and second defendants) and Z.E. Abbas (counsel to the third defendant) concluded their cross-examination of the preceding witness, Bureau de Change operator Jamilu Abdullahi, who was subsequently discharged.

​With the prosecution resting its re-examination of the earlier witness, Justice Anineh adjourned the trial to November 24, December 2, and December 8, 2026, for the continuation of hearing.