₦110.4bn Fraud Trial: EFCC Witness Traces Company Inflows To Kogi LG Accounts

An operative of the Economic and Financial Crimes Commission (EFCC) has told an Abuja court that companies under investigation in the alleged ₦110.4 billion fraud case involving former Kogi State Governor Yahaya Bello received regular inflows from local government accounts in the state.

The witness, John Justice, made the disclosure on Tuesday, October 27, 2026, while testifying as the 20th prosecution witness before Justice Maryanne Anineh of the Federal Capital Territory High Court in Maitama, Abuja.

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 ₦110.4 billion. The defendants have denied the allegations.

Led in evidence by prosecution counsel Kemi Pinheiro, a Senior Advocate of Nigeria (SAN), Justice said investigators obtained and analysed bank records to trace the movement of funds through several companies suspected of benefiting from transactions involving Kogi State local governments.

He told the court that an examination of the account statement of Forza Business Enterprise showed that most of the funds credited to the company came from local government accounts in Kogi State on a monthly basis.

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

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Justice said the investigation also identified Keyless Ventures as a company that benefited from proceeds traced to the businesses under scrutiny.

According to him, the EFCC’s analysis showed that funds flowed from Kogi State into the companies’ accounts, with some of the transactions recorded as cash withdrawals.

The investigator said the commission became concerned about the large sums recorded as cash withdrawals and subsequently invited officials of Access Bank and Zenith Bank to assist with the investigation.

The EFCC also requested closed-circuit television (CCTV) footage from the banks to establish whether the money had actually been withdrawn in cash.

Justice told the court that the footage showed that customers did not physically take the recorded sums out of the banking halls.

He explained that some transactions involved customers completing a cheque withdrawal for one account and a deposit slip for another account, allowing the money to be transferred without being physically collected as cash.

The testimony suggested that transactions recorded as cash withdrawals in the companies’ account records included movements of funds into other accounts.

Justice said the investigation began after the EFCC’s Procurement Fraud Section received intelligence concerning the activities of local governments in Kogi State.

He identified several companies mentioned in the intelligence, including Hayzma, Bibas Energy, Forza Oil and Gas, and Keyless Ventures.

The witness said investigators conducted Bank Verification Number (BVN) searches and wrote to the relevant banks to obtain transaction records. The responses were subsequently analysed to establish the movement of funds among the accounts.

While identifying documents presented in court, Justice confirmed that some of the exhibits related to Hayzma Business Enterprise, Keyless Nature and Forza Business Enterprise.

He further told the court that a BVN search relating to Keyless Nature returned the name Abba Adaudu, while earlier searches had returned the names Yakubu Siyaka Adebenege and Iyadat Sa’adat.

Justice said he had worked as an EFCC operative for more than nine years and had received training in asset tracing, internet fraud, anti-money laundering and advance-fee fraud.

The prosecution alleges that the transactions form part of a wider scheme involving the diversion of public funds during Bello’s tenure as Kogi State governor between January 2016 and January 2024.

The EFCC has alleged that some of the funds were used to acquire properties in Abuja and make payments for school fees. Bello and his co-defendants have denied the allegations, and the prosecution must establish its case in court.

The trial was adjourned until November 24, 2026, for continuation.

The latest testimony adds to evidence presented by previous prosecution witnesses concerning transfers from Kogi local government accounts to private companies and the subsequent movement of the funds. However, the allegations remain subject to determination by the court.