Bello money laundering trial hears testimony that funds were structured to evade reporting thresholds in multiple bank accounts

The trial of former Kogi State governor, Yahaya Adoza Bello, continued on Friday before Justice Emeka Nwite of the Federal High Court, Maitama, with a prosecution witness alleging that funds from Kogi State local governments were paid into private bank accounts in a manner designed to evade financial reporting requirements.

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Olomotane Egoro, a compliance officer with Access Bank Plc and the seventh prosecution witness, told the court that the inflows were deliberately structured below the mandatory reporting threshold to avoid triggering Currency Transaction Reports to the Nigerian Financial Intelligence Unit.

Bello is facing a 19-count charge of alleged money laundering involving N80.2 billion, brought by the Economic and Financial Crimes Commission.

Led in evidence by prosecution counsel Kemi Pinheiro, SAN, Egoro identified several bank statements admitted as exhibits and explained that some transactions were broken into smaller amounts below N10 million, the reporting threshold for corporate accounts.

He described the pattern as a known method used to evade regulatory scrutiny.

The witness told the court that one of the accounts examined recorded 21 separate cash deposits between April and May 2020 at the Lokoja branch of Access Bank, all below N10 million.

Egoro also testified about the statement of account of Keyless Nature Limited, domiciled at Access Bank’s Lokoja branch, which showed multiple credit inflows from different local governments in Kogi State between 2021 and 2024.

He said that shortly after the inflows, corresponding transfers were made to another Keyless Nature Limited account at Fidelity Bank.

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At the end of the proceedings, defence counsel requested additional time to study the documents tendered before commencing cross-examination. Justice Nwite adjourned the case to February 4 and 5, 2026, for cross-examination of the witness and continuation of the trial.