Business
Bank official testifies on suspicious deposits from Kogi LGAs linked to Yahaya Bello’s nephew
A senior official from Access Bank has detailed how billions of naira allegedly originating from various Local Government Areas (LGAs) in Kogi State were funneled into private accounts through suspicious transactions during the administration of former Governor Yahaya Bello.
Testifying before the Federal High Court in Abuja on Tuesday, Ofure Achille, former Head of Operations at Access Bank’s Lokoja branch, said the suspicious cash lodgments and withdrawals occurred over several years and were flagged and reported to the Nigerian Financial Intelligence Unit (NFIU).
Ms. Achille is the seventh prosecution witness in the ongoing trial of Ali Bello, a nephew to former Governor Bello and current Chief of Staff to Governor Ahmed Usman Ododo. He is facing 18 counts of money laundering involving the alleged diversion of N3 billion belonging to Kogi State.
Also standing trial are Abba Adaudu, Yakubu Siyaka Adabenege, Iyada Sadat, and Rashida Bello—accused of using shell companies and personal accounts to move massive sums.
The bank official testified that multiple transactions involving hundreds of millions of naira were inconsistent with the financial profiles of the account holders.
She cited examples including the E-Traders account operated by Jamilu Abdulahi, into which N30 million was deposited over two consecutive days in December 2021, followed by N40 million and another N30 million in early 2022.
“These transactions were flagged and reported to the NFIU as Suspicious Transaction Reports (STRs) under anti-money laundering laws,” she said.
Achille also revealed that accounts linked to co-defendants—including Fazab Business Enterprise and Hyzman Ary Construction Limited—received substantial funds from various Kogi LGAs. She noted that on 29 August 2017, Ary Construction received inflows totaling N171 million, with the first deposit of only N10,000 earlier that day.
The EFCC’s lead prosecutor, Rotimi Oyedepo (SAN), led the witness through documentary evidence detailing patterns of deposits and withdrawals that allegedly reflect the laundering of public funds.
The trial continues before Justice Obiora Egwatu as prosecutors build their case against the defendants in what has become one of the most high-profile corruption trials in recent years.
Governor of Kaduna State, Senator Uba Sani, has appointed Ben Solomon Dalhatu Kure as the Managing Director of Kaduna State Media Corporation (KSMC).
Ibraheem Musa, Chief Press Secretary to the Governor, disclosed this in a statement at the weekend.
Kure replaced Ahmed Maiyaki, who has just been appointed the Commissioner for Information.
He is expected to build on Mr. Ahmed Maiyaki’s leadership, which has repositioned the media corporation.
Before this appointment, Kure served as the Chairman of Jaba Local Government from 2016 to 2017, Executive Secretary of the Kaduna State Emergency Management Agency from 2018 to 2019, and Special Adviser (Political Matters) to the Kaduna State Governor from 2019 to 2021.
Dangote Refinery has announced the delivery of its first shipment of compressed natural gas trucks to facilitate its nationwide premium motor spirit and automotive gas oil supply from August 15, 2025.
The 650,000-barrel-per-day refinery disclosed this in a statement by its spokesperson, Anthony Chijiena, on Sunday.
According to him, the refinery, the N720 billion worth investment scheme, is aimed at transforming Nigeria’s fuel distribution landscape by reducing logistics costs and enhancing supply efficiency for customers.
“The fleet of fuel tankers, being imported through Apapa Port, represents a significant capital investment estimated at N720 billion.
“The first consignment of trucks recently departed Apapa Port and was formally received at the refinery site in Ibeju-Lekki by the Vice-President of Oil and Gas at Dangote Industries Ltd., Devakumar Edwin,” the statement reads.
Recall that Dangote Refinery had announced that the fuel distribution scheme would cause a major shakeup in the country’s oil and gas downstream sector.
However, petroleum product retail outlet owners and the Natural Gas Suppliers Association of Nigeria have, in different forums, kicked against the scheme, saying it would result in massive job losses.
The naira bounced back to appreciate against the dollar at the official foreign exchange market on Thursday as Nigeria’s external reserves continued to rise.
The Central Bank of Nigeria’s data showed that the Naira gained slightly at N1,533.73 against the dollar on Thursday from N1,534.44 traded on Wednesday.
This means that Nigeria’s currency marginally strengthened by N0.70 against the dollar on a day-to-day basis.
Meanwhile at the black market, the Naira remained flat at N1,565 on Thursday, the same exchange rate recorded the previous day.
The development follows the continued rise in the country’s external reserves, which stood at $39.99 billion as of 6th August 2025, up from $39.81 billion on the 4th of this month, CBN data showed.
Ekwutosblog reports that in the past four days, the Naira has recorded mixed sentiments of depreciation and appreciation against other currencies.
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