Former Kogi State governor Yahaya Bello is standing trial before Justice Emeka Nwite on a 19-count charge filed by the Economic and Financial Crimes Commission. The charges border on money laundering amounting to ₦80.24 billion.
The EFCC alleges that funds belonging to Kogi State local governments were channelled through private companies and individuals using several bank accounts.
The seventh prosecution witness, Olomotane Egoro, an Access Bank compliance officer, told the court that multiple cash deposits were made into private accounts in Lokoja. He said all deposits were below ₦10 million, the threshold that requires banks to file Currency Transaction Reports with the Nigerian Financial Intelligence Unit.
Egoro explained that such transactions are considered structured deposits intended to avoid regulatory scrutiny. He added that inflows from local governments were often followed by rapid transfers to other banks or large cash withdrawals.
Egoro identified accounts belonging to Keyless Nature Limited and Hayzma Business Enterprise, both domiciled at Access Bank’s Lokoja branch. He said Hayzma Business Enterprise alone received over ₦813 million from local governments in August 2020.
According to the witness, more than ₦546 million was withdrawn in cash within 12 days by a single individual. He also disclosed that Keyless Nature Limited received a ₦2.1 billion loan, alongside repeated inflows from local governments.
Defence counsel objected to parts of the testimony, but Justice Nwite overruled the objection. The judge held that the witness was professionally qualified to explain banking and compliance procedures.
The defence requested more time to study the documents tendered in court. Justice Nwite adjourned the matter to February 4 and 5, 2026, for cross-examination and continuation of hearing.
