Key Points

• Bank flagged Kogi N3bn fraud trial transactions as suspicious.

• Several obscure companies received and withdrew millions rapidly.

• EFCC linked withdrawals to Yahaya Bello’s administration.

A bank official, Ofure Achille, testified before the Federal High Court in Abuja on Tuesday, revealing that Access Bank flagged multiple suspicious cash transactions linked to Kogi State local governments.

The transactions, reportedly executed between 2015 and 2023, occurred during the administration of former Governor Yahaya Bello.

Ms. Achille, who served as the Head of Operations at Access Bank’s Lokoja branch, told the court the suspicious inflows were flagged and reported to the Nigerian Financial Intelligence Unit (NFIU).

She said the accounts receiving these funds did not align with the financial profiles of the account holders.

The testimony came during the trial of Ali Bello, a nephew to the former governor and the current Chief of Staff to Kogi Governor Usman Ododo.

He faces 18 counts of money laundering alongside co-defendants Abba Adaudu, Yakubu Siyaka Adabenege, Iyada Sadat, and Rashida Bello.

Bank flagged multiple large cash deposits as suspicious

Achille explained that between 2017 and 2022, large sums were lodged into various accounts tied to companies such as Fazab Business Enterprise, Hyzman Ary Construction Limited, and Killest Nature Limited.

Many of the transactions involved quick withdrawals following the deposits.

One such account, Ary Construction, received inflows from multiple Kogi LGAs that reached N257 million on a single day, followed by withdrawals of over N200 million.

Similarly, Killest Nature Limited received over N79 million in multiple transfers, which were quickly moved to another bank account.

She emphasized that Access Bank submitted Suspicious Transactions Reports (STRs) to the NFIU in line with anti-money laundering (AML) regulations.

She demonstrated how the bank used an electronic platform to flag these high-value transactions due to inconsistencies with account holder profiles.

Court hears how N3bn flowed through obscure firms’ accounts

The court also heard that three companies—Fazab, Hyzman, and Ary Construction—operated by the defendants were primary recipients of the suspicious deposits.

According to Achille, massive withdrawals from these accounts followed each deposit cycle, often occurring on the same day or within a few days.

She testified that some individual deposits reached as high as N250 million and were quickly withdrawn in bulk.

In one instance, N250 million was deposited into an account with a previous balance of less than one naira and was fully withdrawn within two days.

After her detailed testimony, the defense sought an adjournment for cross-examination. Justice Obiora Egwuatu adjourned the trial to continue on June 17, 18, and July 1 and 2.