Kogi LG Funds Channelled To Private Account, EFCC Witness Drops Bombshell In Court

Remigius Egu, a compliance officer at Zenith Bank, provided his testimony in the ongoing trial of Ali Bello, the Chief of Staff to the Governor of Kogi State, and three other defendants—Yakubu Adabenege, Abba Adaudu, and Iyada Sadat. The four are facing charges related to money laundering and the misappropriation of over ₦3 billion in public funds.

During the proceedings, Egu presented documents detailing transactions linked to Adabenege, one of the accused. The witness revealed that large sums of money from several Kogi State LGAs were transferred to the account of Korforte Concept Limited on October 4, 2023.

The amounts transferred from the following LGAs included:

• Ogori Magongo LGA: ₦14,844,640.57

• Ibeji LGA: ₦18,629,944.51

• Adavi LGA: ₦20,887,557.54

• Kogi LGA: ₦17,929.59

• Kabba/Bunu LGA: ₦18,460,569.12

• Ajaokuta LGA: ₦22,764,334.70

• Okene LGA: ₦20,758,710.37

• Yagba West LGA: ₦18,234,063.61

• Ofu LGA: ₦21,368,633.69

Egu further explained that the balance of the Korforte Concept Limited account before these transfers was ₦7,370. On the same day as the transactions, ₦110 million was transferred from this account to Adaudu, another defendant in the case.

Additional transfers were made into the Korforte Concept Limited account on October 5, 2018, from several other LGAs:

• Igalamela/Odolu LGA: ₦19,480,651.20

• Olamaboro LGA: ₦19,089,517.01

• Dekina LGA: ₦23,373,201.67

• Ibaji LGA: ₦15,653,631.39

• Omala LGA: ₦16,876,252.03

• Lokoja LGA: ₦20,591,073.74

On the same day, a ₦21.9 million transfer was made from the account to a person named Musa Omuya. Further transactions continued, including an inflow from Ijumu LGA (₦17,369,243.52) and Bassa LGA (₦17,471,549.57) on October 8, 2018, and additional transfers to Musa Omuya and Adaudu in the following days.

In earlier court proceedings, Oyinkosola Akerele, the Managing Director of Forza Oil and Gas Limited, testified about payments made for the purchase of U.S. dollars. Akerele stated that the funds, totaling $139,000, were transferred to four beneficiaries, including three children of former Kogi State Governor Yahaya Bello: Fatima Bello, Na’ima Bello, and Zara Bello, for their school fees at the American International School (AIS).

The trial, overseen by Justice Obiora Egwuatu, has been adjourned to May 5, 19, 20, and 21 for further hearings.