₦1.425bn Transactions: EFCC Witness Makes Fresh Revelation In Yahaya Bello’s Money Laundering Trial

An Economic and Financial Crimes Commission (EFCC) witness, Jamilu Abdullahi, has told the High Court of the Federal Capital Territory in Abuja that ₦1.425 billion transferred through two companies linked to Abba Adaudu was intended to finance foreign exchange transactions.

Abdullahi, a forex dealer, made the disclosure while testifying as the 19th prosecution witness in the ongoing trial of former Kogi State Governor Yahaya Bello and two other defendants before Justice M. E. Anenih.

According to the witness, Adaudu, an associate of Bello, provided the funds for the purchase of foreign currency, while he supplied the corresponding amounts in US dollars based on prevailing exchange rates.

The witness identified Keyless Nature Limited and Ejadams Essence Limited as companies belonging to Adaudu. He told the court that ₦100 million was transferred through Keyless Nature Limited on December 15, 2021, followed by additional transfers totalling ₦400 million on December 17, 2021.

He further disclosed that ₦600 million was transferred through Ejadams Essence Limited on February 18, 2022, while another ₦325 million passed through the company on February 21, 2022. According to his testimony, the transactions amounted to ₦1.425 billion.

Abdullahi explained that whenever the funds were paid into his accounts through cash deposits or electronic transfers, he supplied Adaudu with the equivalent value in US dollars. He added that the exchanges were usually conducted at either his office or Adaudu’s office.

The witness also testified about transactions involving E-Traders Limited, one of his companies, identifying account statements and other documents presented before the court.

He said certain cash deposits made into the company’s account at Access Bank’s Lokoja branch between July 2021 and April 2022 were connected to Adaudu’s forex dealings. However, he explained that although some transaction descriptions contained his name, he did not personally make the deposits because he had never visited the bank branch.

Abdullahi also identified other account statements containing deposits made between December 2021 and February 2022, which he attributed to Adaudu or individuals allegedly acting on his behalf.

However, during cross-examination, the witness admitted that he could not confirm who physically made the cash deposits because he was not present at the bank when the transactions occurred. He also acknowledged that the names of Bello and the second defendant did not appear in E-Traders Limited’s account statement as depositors.

The forex dealer maintained that the transactions involving Keyless Nature Limited and Ejadams Essence Limited were related to foreign exchange dealings with Adaudu. Although he could not recall the total amount of foreign currency supplied, he said he generally provided the equivalent value of the transactions in cash or, on some occasions, through bank transfers.

The witness also testified about payments made towards the school fees of children attending the American International School. He said Adaudu provided the beneficiaries’ names and account details, while he arranged the payments through colleagues rather than making them personally.

The beneficiaries were identified in court as Fatima Bello, Zarrah Bello, Zayan Bello, Farid Bello and Na’ima Bello. Abdullahi said he forwarded documents relating to the transactions to Adaudu for confirmation after the payments had been completed.

During cross-examination, he acknowledged that he did not know the children’s parents personally and had relied on colleagues to carry out the payments.

According to Bush Radio Academy, the proceedings also featured discussions concerning an application seeking the withdrawal of the surety of the third defendant. A lawyer informed the court that the application had been served on the relevant parties but was not yet ready for hearing, while counsel for the third defendant requested time to prepare a response.

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.

After the witness’s testimony and an indication from defence counsel that he was tired, Justice Anenih adjourned the case until October 27 and November 24, 2026, for the continuation of proceedings.

The defendants have not been convicted, and the allegations against them remain before the court.