Alleged N3bn Fraud: EFCC presents evidence in money laundering case of Kogi LG funds

The Economic and Financial Crimes Commission (EFCC) has charged four individuals, including Ali Bello, a nephew of former Kogi State Governor, Alhaji Yahaya Bello, for allegedly diverting over three billion naira in public funds.

In a statement issued by the EFCC Head of Media and Publicity, Mr. Dele Oyewale, the accused persons are facing an 18-count charge bordering on money laundering and misappropriation of funds. The case is currently being heard before Justice Obiora Egwuatu at the Federal High Court in Abuja.

During proceedings on April 8, 2025, the sixth prosecution witness, Remigius Egu, a compliance officer with Zenith Bank, testified that large sums of money from Kogi State Local Government accounts were funneled into private accounts. He revealed that N110 million was transferred to one of the defendants, Adaudu, and that over N3 billion was channeled through a company named Korforte Concept Limited.

Also testifying was the fifth prosecution witness, Oyinkosola Shukurat, Managing Director of Forza Oil and Gas, who told the court that payments totaling $139,000 were made for school fees of Fatima, Na’ima, and Zara Bello at the American International School.

The court has adjourned the case until May 5, 2025, for continuation of trial.