Alleged ₦110.4bn Kogi Fraud: Witness Says ₦1.425bn Was Used for Forex Transactions

A prosecution witness in the ongoing trial of former Kogi State Governor Yahaya Bello has told the Federal Capital Territory High Court in Maitama, Abuja, that ₦1.425 billion was used for foreign exchange transactions between December 2021 and February 2022.

The witness, a bureau de change operator, Jamilu Abdullahi, who testified as Prosecution Witness 19 (PW19), said the foreign currencies purchased through the transactions were delivered to Abba Adaudu.

Abdullahi gave the testimony on Thursday, October 15, 2026, before Justice Maryanne Anineh while being led in evidence by prosecution counsel Kemi Pinheiro, SAN.

During proceedings, the witness examined Exhibit AR, which contained transactions recorded between July 2021 and April 2022. He confirmed receiving cash lodgments of ₦10 million each made by Adaudu through the Lokoja branch, explaining that the payments were for foreign exchange transactions rather than gifts.

“My lord, I confirm the cash lodgments of Ten, Ten million Naira by Abba Adaudu from the Lokoja branch. My lord, I confirm I received the cash lodgments. It wasn’t for gift but for a forex transaction,” he told the court.

He said the transactions were intended for the purchase of United States dollars.

The witness also identified a transfer dated January 18, 2022, from Keyless Limited, which he said belonged to Adaudu. He maintained that the transfer was also meant for foreign exchange transactions.

Regarding cash lodgments of ₦9 million, ₦8 million and another ₦8 million recorded on February 22, 2022, in his name through the Lokoja branch, Abdullahi denied personally making the deposits, saying he had never visited the branch.

“In fact, I have never been to that branch in my life, but my name has been used as a beneficiary as any other person’s name can be used as the receiver, and it was a dollar transaction for Abba Adaudu,” he said.

He gave a similar explanation for multiple cash lodgments recorded against his name on March 10 and 11, 2022, insisting that the transactions were carried out on Adaudu’s behalf and that the names used in the transaction descriptions depended on Adaudu’s instructions.

Abdullahi told the court that he consistently handed the converted foreign currencies to Adaudu, sometimes at his own office and on other occasions at Adaudu’s office in Area 8, Garki, Abuja.

“My lord, I always send the converted forex to Abba Adaudu. All the transactions at the Lokoja were from Abba Adaudu,” he said.

The witness also identified Exhibit AK as his personal Access Bank account at the Aminu Kano branch in Abuja. He confirmed entries showing cash lodgments of ₦10 million each on December 29 and 30, 2021, and January 1 and 31, 2022, but maintained that the deposits were made by Adaudu for foreign exchange transactions.

On transfers involving Kunfayakun Global Limited, which he identified as his company, Abdullahi confirmed receiving ₦100 million from Keyless Nature Limited through FCMB, Zone 4, in 2021. He attributed the transfer to Adaudu.

He also identified a ₦400 million transfer through Keyless Nature Limited, which he said was made by Adaudu, as well as multiple transfers of ₦100 million each, totalling ₦600 million, from Ejadams Essence Limited on February 18, 2022. He told the court that Ejadams Essence Limited also belonged to Adaudu.

The testimony forms part of the prosecution’s ongoing case in the alleged ₦110.4 billion fraud trial involving Bello. Abdullahi’s evidence focused on the movement of funds and foreign exchange transactions he said were carried out on Adaudu’s behalf.

The allegations remain before the court, and the witness’s testimony does not, by itself, establish the guilt of the former governor or any other defendant.