By Abuja, Nigeria- The Economic and Financial Crimes Commission (EFCC) on Thursday morning said it presented detailed evidence before the Federal Capital Territory High Court, Abuja, showing how a ₦2.1 billion loan linked to former Kogi State governor, Yahaya Bello, was repaid with funds traced to Kogi State local government accounts.
According to the EFCC, an Access Bank compliance officer, Olomotane Egoro, while testifying before Justice Maryanne Anineh, narrated how the loan, disbursed to Keyless Nature Limited in December 2021, was subsequently repaid through multiple inflows from various Kogi State local government accounts. The witness told the court that the repayments followed a consistent monthly pattern.
The EFCC said the witness also traced several transactions across different accounts, where funds credited from Kogi State local governments were immediately followed by cash withdrawals, transfers and structured transactions aimed at evading reporting thresholds. He added that the bank filed several Suspicious Transaction Reports with the Nigerian Financial Intelligence Unit over transactions that did not align with the customers’ profiles.
The anti graft agency further told the court that similar patterns were observed in other company accounts, including Westwood Motors, Fazab Business Enterprise, Hayzma Business Enterprise and E-Traders International Limited, where cash deposits and withdrawals were linked to individuals connected to the accounts.
The EFCC said the trial was adjourned to March 10, 11 and 12, 2026, for continuation of hearing.
