An Economic and Financial Crimes Commission (EFCC) witness in the ongoing trial of former governor Yahaya Bello of Kogi State and two others before the High Court of the Federal Capital Territory (FCT) on today told the court some transactions in some companies account with Access Bank under scrutiny in the case did not violate the threshold prescribed by the Central Bank of Nigeria (CBN).
Bello is facing a 16-count charge bordering on alleged money laundering to the tune of N110,446,470,089 alongside Umar Shuaaibu Oricha and Abdulsalam Hudu before Justice Maryann Anenih, sitting at Maitama, Abuja.
The former governor and his co-defendants are being prosecuted by EFCC, on behalf of the Federal Government, in the charge marked FCT/HC/CR/778/24, in which they, however, pleaded not guilty.
At the resumed hearing in the case today, the EFCC witness Olomotane Egoro, a Compliance Officer with Access Bank Plc, maintained during continuation of cross examination by counsel for Bello and Oricha, Paul Daudu SAN, that no breach was committed in the transactions of carried out by Yakubu Siyaka, Jamilu Abdullahi and Abba Daudu with Fazab Business Enterprises, Ejadams Essence and E-Trader International Limited.
According to him, “All the withdrawals were within CBN’s guidelines,” adding that he could not say what the withdrawals were meant for.
Egoro, is is the 10th prosecution witness (PW10) in the case, told the court that he did not know the purpose of the transaction of N86,500,000 from Fazab to Ejadams Essence which the prosecuting counsel, Kemi Pinheiro SAN, drew his (Egoro’s) attention to at the last sitting in February.
He further told the court that he neither knew the purpose of the transaction of N54,354,450 between Abba Daudu and Fazab nor the business relation between them.
Egoro said that there was no Post No Debit (PND) instruction against Fazab Business Enterprise’s account with Access Bank earlier tendered by the prosecution through him.
He confirmed to the court that on June 22, 2022 there was an inflow of ₦20million in Fazab’s account for the supply of educational materials.
Asked if he knew if Jamilu Abdullahi was a signatory to the account of E-Traders International Limited, the PW10 said he could not tell if Abdullahi was.
He explained to the court that one customer of his bank could receive deposits from anywhere in the country, adding, however, that if the business and relationship of the customers did not correlate with the deposit, such transaction would be flagged and Suspicious Transaction Report (STR) filed.
He noted that there was no court order restricting operations on the company’s account but an STR was made.
According to him, at that stage, the STR was a mere suspicion which required further investigation.
Egoro told the court that in all the transactions carried out by the individuals mentioned, former governor Bello and his co-defendants were neither depositors nor beneficiaries.
“None of the defendants is a depositor or made withdrawals in the transactions,” he said.
Meanwhile, Justice Anenih has adjourned the case to tomorrow (Wednesday) for continuation of hearing.