A shocking new testimony has revealed how over N3 billion allocated to various Local Government Areas (LGAs) in Kogi State was allegedly laundered through private accounts. The revelation came from Remigius Egu, a prosecution witness and compliance officer at Zenith Bank, who testified before a Federal High Court in Abuja on Tuesday.
Egu detailed how large sums of money from Kogi’s LGAs were funneled through the private account of Korforte Concept Limited, raising alarms about financial misconduct and corruption at the highest levels. The ongoing trial, which is centered around Ali Bello (nephew of former Kogi State Governor Yahaya Bello) and three others, has drawn significant attention as the Economic and Financial Crimes Commission (EFCC) pursues charges of money laundering and public fund misappropriation.
Testimony Shakes the Courtroom
During his testimony, Egu, who is serving as the sixth prosecution witness, outlined a series of suspicious transactions traced to Korforte Concept Limited’s account. The bank official confirmed that on October 4, 2023, multiple large deposits were made into this account, with funds originating from different LGAs across Kogi State.
The breakdown of these funds is staggering:
- Ogori Magongo LGA: N14.8 million
- Ibeji LGA: N18.6 million
- Adavi LGA: N20.9 million
- Kogi LGA: N17,929
- Kabba/Bunu LGA: N18.5 million
- Ajaokuta LGA: N22.7 million
- Okene LGA: N20.8 million
- Yagba West LGA: N18.2 million
- Ofu LGA: N21.4 million
All these funds were received in a single day, October 4, 2023—leading to questions about how such a massive amount of public money could be diverted through private channels without oversight.
A Family Connection to the Scandal
Ali Bello, the nephew of Kogi’s former governor, is at the heart of this corruption scandal, along with his co-defendants Yakubu Isiaka Adabenege, Abba Adaudu, and Iyada Sadat. These individuals face a combined 18 counts of money laundering, with the EFCC accusing them of conspiring to misappropriate public funds meant for the development of Kogi’s local governments.
In a separate line of testimony, Oyinkosola Akerele Shukurat, Managing Director of Forza Oil and Gas Limited, revealed that her company was involved in transactions linked to the Bello family. Specifically, payments were made on behalf of Fatima, Na’ima, and Zara Bello, for their school fees at the American International School in Abuja, totaling a staggering $139,000.
The Road Ahead for the Case
This high-profile trial continues to unravel, with major revelations surfacing about the misuse of public funds. Justice Obiora Egwuatu has adjourned the case to May 2025, when the trial will resume with further hearings.
As the investigation unfolds, all eyes will remain on how the court addresses the extensive financial fraud allegedly orchestrated by those in positions of power, and whether justice will prevail in the face of these damning revelations.
Keywords: Kogi State, N3bn, Local Government Funds, Money Laundering, EFCC, Ali Bello, Corruption, Public Fund Misappropriation, Zenith Bank, Korforte Concept Limited, Yahaya Bello, Forza Oil and Gas, Fatima Bello.
