Alleged ₦110.4bn Fraud: Witness Tells Court ₦1.425bn Was Used for Forex Transactions Linked to Yahaya Bello Case
A bureau de change operator, Jamilu Abdullahi, has told the Federal Capital Territory High Court in Maitama, Abuja, that transactions worth ₦1.425 billion were carried out to purchase foreign currencies between December 15, 2021, and February 21, 2022, in the ongoing trial of former Kogi State Governor, Yahaya Bello.
Abdullahi, who testified as the 19th prosecution witness (PW19), said the foreign currencies purchased through the transactions were delivered to Abba Adaudu.
The witness gave the testimony on Thursday, October 15, 2026, before Justice Maryanne Anineh while being led in evidence by the prosecution counsel, Kemi Pinheiro, SAN.
Explaining the transactions, Abdullahi identified several cash deposits and bank transfers into accounts linked to him and his company, Kunfayakun Global Limited. He maintained that the funds were provided by Adaudu for foreign exchange transactions and were not gifts.
While reviewing Exhibit AR, which contained transactions between July 2021 and April 2022, the witness confirmed receiving cash deposits of ₦10 million each made by Adaudu through the Lokoja branch.
According to him, the deposits were intended for the purchase of United States dollars.
Abdullahi also identified a January 18, 2022, transfer from Keyless Limited, which he said belonged to Adaudu. He told the court that the money was meant for foreign exchange transactions.
Regarding deposits of ₦9 million, ₦8 million and another ₦8 million recorded against his name on February 22, 2022, the witness denied making the deposits personally.
He explained that he had never visited the Lokoja branch and that his name was used as a beneficiary in transactions carried out on behalf of Adaudu.
The witness gave a similar explanation for multiple deposits recorded against his name on March 10 and 11, 2022, stating that the names appearing in transaction descriptions depended on the instructions provided by Adaudu.
He told the court that all the transactions conducted through the Lokoja branch were connected to Adaudu and that he consistently delivered the converted foreign currencies to him.
Abdullahi also identified Exhibit AK as his personal Access Bank account at the Aminu Kano branch in Abuja.
He confirmed deposits of ₦10 million each on December 29 and 30, 2021, as well as January 1 and 31, 2022, but insisted that the funds were deposited by Adaudu for foreign exchange transactions.
The witness further disclosed that he sometimes delivered the purchased dollars to Adaudu at his own office and, on other occasions, at Adaudu’s office in Area 8, Garki, Abuja.
Testifying on transactions involving his company, Kunfayakun Global Limited, Abdullahi confirmed receiving ₦100 million from Keyless Nature Limited through FCMB, Zone 4, in 2021.
He attributed the transfer to Adaudu and also identified another transaction worth ₦400 million through Keyless Nature Limited.
Additionally, he told the court that Kunfayakun Global Limited received multiple transfers of ₦100 million each, totalling ₦600 million, from Ejadams Essence Limited on February 18, 2022. He said the company belonged to Adaudu.
The witness also identified a transfer of ₦325 million through Ejadams Essence Limited on February 21, 2022, which he equally attributed to Adaudu.
He maintained that the funds were used for foreign exchange transactions and that the purchased currencies were delivered to Adaudu.
Witness Links School Fee Payments to Adaudu’s Instructions
Abdullahi also explained his involvement in payments made to the American International School, Abuja (AISA), for the school fees of children whose payment instructions and account details were supplied to him by Adaudu.
He identified Forza Oil, Alyeshua and Whales Oil and Gas as accounts associated with the transactions.
The witness mentioned Fatima Bello, Zahra Bello and Na’ima Bello as familiar names connected to the school fee payments.
He said he transferred the funds to the school’s account using the details provided by Adaudu and subsequently sent the payment receipts to him as evidence of completed transactions.
Abdullahi identified Exhibits AX 10 (1–4) as telexes serving as receipts for the payments made to the school.
When asked whether Adaudu or the children had complained about the transactions, he answered in the negative.
During cross-examination by counsel to the first and second defendants, Abdullahi Yahaya, SAN, the witness said he had no direct dealings with any of the defendants.
He also told the court that he could not recall the exact amount of cash he handed over to Adaudu because the transactions were numerous, but maintained that he had evidence of the payments.
Following the testimony, Justice Anineh adjourned the case until October 27 and November 24, 2026, for continuation of trial.
Bello is being prosecuted by the Economic and Financial Crimes Commission (EFCC), alongside Umar Shuaibu Oricha and Abdulsalami Hudu, on 16 counts bordering on criminal breach of trust and money laundering involving an alleged ₦110.4 billion.
