N2.1bn Loan Repaid With Kogi LGA Funds, Court Hears As Bank Official Details Suspicious Cash Movements In Yahaya Bello Trial

The trial of former Kogi State governor, Yahaya Adoza Bello, resumed on Wednesday, February 11, 2026, before Justice Maryanne Anineh of the Federal Capital Territory High Court, Maitama, Abuja, with further revelations from the Tenth Prosecution Witness (PW10), Olomotane Egoro, a compliance officer with Access Bank.
Led in evidence by prosecution counsel, Kemi Pinheiro, SAN, Egoro—who testified pursuant to a subpoena—gave a detailed account of how public funds allegedly moved through multiple corporate accounts, including the repayment of a N2.1 billion loan with monies traced to Kogi State local government areas.
He had earlier disclosed that on December 14, 2021, a loan disbursement of N2.1 billion was credited into the account of Keyless Nature Limited, as reflected in Exhibit AU, and that repayments were subsequently traced to funds originating from Kogi State local government accounts.
Continuing his testimony, the witness turned to Exhibit AP, the statement of account of Fazab Business Enterprise. He told the court that in May 2022, the account received several credit inflows from Kogi State local governments. According to him, immediately after the credits, there were multiple withdrawals by one Yakubu Adabenege Siyaka.
Egoro stated that most of the withdrawals were structured “in order to evade the reporting requirements,” though the bank still filed a Suspicious Transaction Report (STR).
He further testified that in June and July 2022, the same pattern persisted—consistent inflows from various Kogi State local governments into the account, followed by withdrawals by Yakubu Siyaka.
From June 2022 alone, the total inflow from different local government areas stood at N117,938,76 as reflected in the exhibit. Out of this amount, N116,600,000 was withdrawn by Siyaka. “Most of the withdrawals were structured to evade the STR,” the witness said.
Between June and July 2022, total inflows from various local governments amounted to N241,631,142.99, while total cash withdrawals by Siyaka stood at N203,900,000—all withdrawn in cash. The witness emphasized that the pattern was consistent: deposits from local governments were followed by immediate cash withdrawals.
On Exhibit AR, the account opening package of E-Traders International Limited, the witness testified that between July 26 and December 30, 2021, multiple cash deposits were made into the account by Abba Adaudu. He added that between January 18 and April 30, 2022, Adaudu’s name also appeared repeatedly as a cash depositor at the Lokoja branch of Access Bank.
Confirming the branch where the withdrawals in Exhibit AP were made, Egoro stated that they were carried out at the Lokoja branch.
Turning to Exhibit AO, the statement of account of Hayzma Business Enterprise, the witness told the court that in August 2022, the account received several credit inflows from Kogi State local governments. He confirmed that Yakubu Siyaka featured prominently in the statement and made multiple cash withdrawals immediately after the deposits.
He added that in April 2021, there were also credit entries from several Kogi State local governments into the same account, followed by cash withdrawals by Siyaka. Asked whether there was a consistent pattern, the witness responded in the affirmative, stating that he observed repeated inflows from local governments followed by immediate withdrawals.
The witness also identified Exhibit AT as the statement of account of Keyless Nature Limited. From January to July 2022, the account received multiple credit entries from several Kogi State local governments.
He disclosed that there were transfers out of the account shortly after the inflows, including transfers to Keyless Fidelity. He further revealed that N20 million was transferred to Abba Adaudu and N80 million to another Keyless Nature account domiciled in Access Bank. According to him, these transfers occurred almost immediately after the receipt of funds from Kogi State local governments.
Additionally, he testified that on November 1, 2022, a transfer of N20,500,000 was made from the account to Ejadams Essence Limited.
Under cross-examination by P.B. Daudu, SAN, counsel to the first and second defendants, the witness confirmed that Exhibits AH1 and AH2 were the account opening packages of the Kogi State Government covering the period between January 2016 and 2024.
He clarified that he was not the relationship manager of the accounts but a compliance officer, adding that as an employee of Access Bank, he was not privy to the internal operations of the Kogi State Government House account.
The witness also confirmed Exhibit AF as the subpoena he had earlier tendered.
On the issue of Suspicious Transaction Reports, he told the court that the bank retained an excel sheet detailing what had been filed with the relevant authorities. When asked whether copies of the STRs formed part of the subpoenaed documents before the court, he replied: “No, my lord, the law does not allow us to show it to the public.”
He further agreed under cross-examination that bank customers are entitled to withdraw their funds, provided such withdrawals do not violate the law.
The court admitted a series of subpoenaed documents tendered by the prosecution as exhibits, marked AG, AH1, AH2, AJ, AK, AL, AM, AN, AO, AP, AQ, AR, AS, AT and AU.
Justice Anineh subsequently adjourned the matter until March 10, 11 and 12, 2026, for continuation of trial.