An operative of the Economic and Financial Crimes Commission (EFCC), John Justice, told the Federal Capital Territory High Court in Maitama, Abuja, on Tuesday that most of the funds credited to companies under investigation in the alleged ₦110.4 billion fraud case involving former Kogi State Governor Yahaya Bello came from local government accounts in the state every month.
Mr Justice, who testified as Prosecution Witness 20 (PW20), also told the court that large sums recorded as cash withdrawals from the companies were not physically taken out of the banks.
He said the withdrawals were instead moved to other accounts through a cheque withdrawal and a deposit slip completed at the same time.
Bello is standing trial before Justice Maryanne Anineh alongside Umar Shuaibu Oricha and Abdulsalami Hudu on a 16-count charge bordering on criminal breach of trust and money laundering involving ₦110.4 billion.
Led in evidence by prosecution counsel, Kemi Pinheiro, Senior Advocate of Nigeria (SAN), Justice said the investigation followed intelligence received by the EFCC’s Procurement Fraud Section (PFS), concerning the activities of local governments in Kogi State.
He said the intelligence mentioned several companies, including Hayzma, Bibas Energy, Forza Oil and Gas, and Keyless Ventures.
Mr Justice, who said he has been an EFCC operative for over nine years, told the court that he received training at the EFCC Academy in asset tracing, internet fraud, anti-money laundering, advance fee fraud and other areas.
He said investigators conducted Bank Verification Number (BVN) searches and wrote to the relevant banks for information. The responses received were subsequently analysed.
Monthly inflows from Kogi LGs
According to the witness, the analysis of the statement of account of Forza Business Enterprise showed a clear pattern.
“Most of the funds coming into the account were funds from Kogi State Local Government accounts coming every month,” he told the court.
Justice said the investigators’ analysis showed that the companies received inflows from Kogi State, while the transactions were treated as cash withdrawals.
“Our analysis reveals that these companies were receiving inflows from Kogi State while transactions were treated as cash withdrawals,” he said.
He added that the analysis also led to the identification of Keyless Ventures as another company that benefited from proceeds traced to the companies.
Withdrawals that never left the bank
Justice further told the court that the Commission subsequently invited officials of Access Bank and Zenith Bank and requested CCTV footage because of the large volumes of cash recorded in the transactions.
According to him, the footage showed that the large sums recorded as withdrawals were not physically taken out of the banks.
ALSO READ: EFCC busts four illegal lithium plants, arrests 14 Chinese, one Nigerian in Ogun
Explaining the process, the witness said: “What this means is: a customer walks into the bank, he fills a cheque withdrawal and a deposit slip to a different account.”
The court heard that the method allowed funds recorded as cash withdrawals to be moved without cash leaving the banking hall.
Exhibits and BVN links
When Pinheiro asked him to examine Exhibits AU, AT, AP and AO and confirm whether they related to the requests made during the investigation, Justice said the documents were connected to the case.
He identified Exhibit AO as relating to Hayzma Business Enterprise, Exhibit AT as Keyless Nature and Exhibit AP as Forza Business Enterprise.
He also told the court that a BVN search relating to Keyless Nature revealed the name Abba Adaudu, while earlier BVN searches had returned the names Yakubu Siyaka Adebenege and Iyadat Sa’adat.
Asked whether he had participated in an investigation concerning the defendants, he answered in the affirmative.
The trial continues.
