A compliance officer from Zenith Bank, Remigius Egu, told a Federal High Court in Abuja how more than N3 billion allegedly meant for various local government areas (LGAs) in Kogi State was funneled into private accounts.
This testimony was given on Tuesday, April 8, 2025, as part of an ongoing trial involving Ali Bello—nephew to the former Kogi State governor Yahaya Bello—and three others.
Egu is the sixth prosecution witness in the case being handled by the Economic and Financial Crimes Commission (EFCC). The accused persons, including Yakubu Isiaka Adabenege, Abba Adaudu, and Iyada Sadat, are being tried on 18 counts relating to money laundering and misuse of public funds.
While giving his statement in court, Egu explained that Zenith Bank tracked suspicious money transfers into an account owned by a company named Korforte Concept Limited. These transactions reportedly originated from multiple LGAs in Kogi State. He said he confirmed this after reviewing documents, marked as Exhibits E and E1, which were generated by the bank and handed to the EFCC in response to their investigation.
In a letter dated March 16, 2022, sent to the EFCC’s Zonal Commander, Zenith Bank detailed the transaction records of Yakubu Isiaka Adabenege, the second defendant. Egu further noted that on October 4, 2023, large sums of money were deposited into Korforte Concept’s account from several local councils. The reported amounts included:
- Ogori Magongo LGA: N14,844,640.57
- Ibeji LGA: N18,629,944.51
- Adavi LGA: N20,887,557.54
- Kogi LGA: N17,929.59
- Kabba/Bunu LGA: N18,460,569.12
- Ajaokuta LGA: N22,764,334.70
- Okene LGA: N20,758,710.37
- Yagba West LGA: N18,234,063.61
- Ofu LGA: N21,368,633.69
“All the inflows were received on October 4, 2023,” Egu told the court.
Also during the hearing, another witness, Oyinkosola Akerele Shukurat, who is the Managing Director of Forza Oil and Gas Limited, testified about her company receiving payments for the purchase of U.S. dollars. According to her, these dollars were used to pay school fees for Fatima, Na’ima, and Zara Bello at the American International School in Abuja. The total amount for these transactions reached $139,000, with $44,700 each paid for Fatima and Na’ima.
Justice Obiora Egwuatu has scheduled the next court sessions for May 5, 19, 20, and 21, 2025, to continue the trial.
