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EFCC Witness Testifies On Alleged Diversion Of Kogi LG Funds To Private Account
A witness for the Economic and Financial Crimes Commission (EFCC), Remigius Egu, a compliance officer at Zenith Bank, testified on Tuesday about how public funds from several local government areas (LGAs) in Kogi State were allegedly diverted and laundered through private accounts.....KINDLY READ THE FULL STORY HERE▶
The testimony was given in the ongoing trial of Ali Bello, Chief of Staff to the Kogi State Governor, Usman Ododo, and three other defendants—Yakubu Adabenege, Abba Adaudu, and Iyada Sadat. The defendants are facing charges related to money laundering and misappropriation of over ₦3 billion in public funds.
During the court proceedings, Egu revealed how large sums of money were transferred from multiple Kogi State LGAs to the account of Korforte Concept Limited on October 4, 2023. The witness identified several transactions, including transfers from Ogori Magongo LGA (₦14,844,640.57), Ibeji LGA (₦18,629,944.51), and Ajaokuta LGA (₦22,764,334.70), among others.
According to the witness, Korforte Concept Limited’s account balance before these transfers was just ₦7,370, but after the transactions, the account was credited with over ₦160 million. Egu further explained that a transfer of ₦110 million was made from the account to Adaudu on the same day.
The witness also testified to additional funds transferred into the Korforte account on October 5, 2018, and subsequent transactions, including transfers to Musa Omuya, a person linked to the case.
In earlier proceedings, Oyinkosola Akerele, Managing Director of Forza Oil and Gas Limited, testified about payments made to the company for the purchase of U.S. dollars. These funds were reportedly for the school fees of the three children of Yahaya Bello, the former governor of Kogi State.
The trial, presided over by Justice Obiora Egwuatu, has been adjourned to May 5, 19, 20, and 21 for further proceedings.
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