Alleged N110bn fraud: No banking regulation was breached says EFCC witness
Regulation
A third witness for Economic and Financial Crimes Commission (EFCC) (PW3), in the trial of former Gov. Mr Yahaya Bello of Kogi that no banking regulation was breached by the defendants.
He told made the statement while testifying before an FCT, High Court, Maitama, Abuja on Wednesday.
Bello and his co-defendants Umar Oricha and Abdulsalami Hudu were arraigned on Nov 27, 2024 on a 16-count- charge bordering on alleged property fraud to the tune of N110 billion..
The PW3, Williams Abimbola, confirmed, said during cross-examination, that no banking regulation was breached in the transactions allowed by her bank, the United Bank for Africa, Plc.
When the matter was called for continuation of hearing, Abimbola, a Compliance Officer with UBA, admitted that she had given similar evidence before the Federal High Court in a suit marked FHC/ABJ/CR/98/2024 between the Federal Republic of Nigeria and Yahaya Bello.
She, however, admitted not being the relationship or account manager of the Kogi Government House account and that the account was domiciled in Lokoja but noted that transactions were in line with stipulated guidelines.
The witness, who had testified that she worked at the Area 3, Abuja branch of UBA at a previous FHC hearing on March 6, 2025, told the court that she could work at any branch.
“I reported to 18, Adetokunbo Ademola Wuse 2, Abuja, this morning,” she said.
On cross-examination, by the Defence Counsel, Joseph Daudu, SAN, when asked as a compliance officer, does her duty involve protecting the integrity of the bank from legal penalty, reputational damage and financial losses, she responded yes.
She had confirmed multiple transactions by Abdulsalam Hudu (third defendant) in the sum of N10 million each between July 31 and August 6, 2019.
Abimbola told the court that she was not in a position to know why the withdrawals were made when asked.
She explained that when making transfer, the bank asks for purpose of transaction and relationship on high volume transactions.
But she added that the bank does not make such enquiries in the case of cash withdrawal, noting that the banker was not an internal auditor of the customer.
Abimbola also mentioned transfers, in tranches, by one Bello Abdullateef, on July 5, 2019, saying that the bank did not breach any regulations in allowing the withdrawals or transfers.
She said that there was no withdrawal that went beyond N10 million in all the transactions presented before the court.
She claimed to have been with the bank for 19 years, adding that she understood the duties of a cashier, which included paying cash and receiving cash.
Abimbola had earlier listed the authorised signatories on the Kogi Government House account, as at 2004, to include Christopher Enefola, Permanent Secretary; Onekutu Daniel, Chief Accountant and Hudu Abdulsalami, Accountant as contained in Exhibits F2, Page 37.
She mentioned a letter dated, September 2008, with three signatures – Elder P.S Ocheni, Abbas Ibrahim Abubakar, Chief Accountant and Abdulsalami Hudu, Senior Accountant.
During cross-examination by the Counsel to the second defendant, Mr A.M. Aliyu SAN, presented the witness with a bank statement marked page 3 of F1, May 27, 2019, where the withdrawals were made.
She admitted that the narration on the credit entry was the governor’s security fund and noted a credit entry of N100 million, in two tranches of N50 million each.
“My Lord, I am not privy to the details of the transaction and cannot categorically answer that question,” the witness responded.
Earlier, during cross-examination by Daudu, SAN, the witness had admitted that she had not met or had any business to do with the second defendant, Umar Oricha.
She also said she had not met the first defendant, former Gov. Yahaya Bello before.
Prosecution Counsel, Kemi Pinheiro, SAN, however, argued that the application was not ripe for hearing and that the motion should wait until Nov. 12, another date for hearing.
The EFCC also called its 4th subpoenaed witness, Jesutoni Akoni, a compliance officer with Ecobank, who confirmed that he had a13-page documents.
Counsel to the second defendant, AM Aliyu, however, objected to the admissibility of the document tendered, saying it did not comply with the provisions of the Evidence Act.
The Court observed that the document tendered by the prosecution was actually addressed to Justice Emeka Nwite of the Federal High Court.
Justice Maryanne Anenih later adjourned the matter until Oct. 9 for continuation.
