An Economic and Financial Crimes Commission (EFCC) prosecution witness has told the High Court of the Federal Capital Territory in Abuja that ₦1.425 billion transferred through two companies linked to Abba Adaudu, an associate of former Kogi State Governor Yahaya Bello, was used for foreign exchange transactions.
Jamilu Abdullahi, a bureau de change operator who testified as the 19th prosecution witness, gave the account on Thursday, 15 October 2026, during the continuation of Bello’s trial before Justice M. E. Anenih.
Abdullahi told the court that the funds were received through accounts associated with him and his businesses for the purchase of foreign currencies. He maintained that he supplied Adaudu with the equivalent amount in US dollars at the prevailing market rate.
Bello is standing trial alongside Umar Shuaibu Oricha and Abdulsalami Hudu over a 16-count charge involving alleged criminal breach of trust and money laundering amounting to ₦110.4 billion. The allegations have yet to be determined by the court.
WITNESS IDENTIFIES ₦1.425 BILLION IN TRANSFERS
While being questioned by prosecution counsel, Kemi Pinheiro, SAN, alongside Olukayode Enitan, SAN, and Bolu Agbaje, SAN, Abdullahi identified two companies, Keyless Nature Limited and Ejadams Essence Limited, as businesses belonging to Adaudu.
According to his testimony, ₦100 million was transferred through Keyless Nature Limited on 15 December 2021, followed by additional transfers totalling ₦400 million through the same company on 17 December 2021.
He further identified transactions totalling ₦600 million through Ejadams Essence Limited on 18 February 2022, as well as another transfer of ₦325 million through the company on 21 February 2022.
The transactions amounted to ₦1.425 billion within the period under review.
The witness explained that whenever the funds were paid into his accounts through electronic transfers or cash deposits, he arranged for the corresponding value to be supplied in US dollars to Adaudu.
He said the exchanges were usually completed at either his office or Adaudu’s office. According to him, Adaudu would often contact him before or after making deposits to explain that the money was intended for foreign exchange transactions.
WITNESS CLARIFIES CASH DEPOSITS INTO BANK ACCOUNTS
Abdullahi also presented account statements relating to his business, E-Traders Limited, including Exhibit AR, which he identified as a statement from First City Monument Bank’s Mararaba branch.
He linked several cash deposits made into the account through the Lokoja branch of Access Bank between July 2021 and April 2022 to Adaudu’s foreign exchange transactions.
However, he explained that although some transaction descriptions carried his name, he had not personally made the deposits because he had never visited the particular Access Bank branch in Lokoja.
He gave a similar explanation for transactions recorded on 22 February and 10 and 11 March 2022.
The witness also identified Exhibit AK, another account statement containing cash deposits recorded on 29 and 30 December 2021, as well as 31 January and 1 February 2022. He attributed the deposits to Adaudu or individuals acting on his behalf.
Abdullahi maintained that the deposits were connected to foreign currency purchases and that the corresponding currencies were supplied to Adaudu.
CROSS-EXAMINATION RAISES QUESTIONS ABOUT WHO MADE THE DEPOSITS
During cross-examination, the witness acknowledged that he could not personally confirm who made some of the cash deposits because he was not present at the bank when the transactions took place.
He also stated that the names of the first and second defendants did not appear in E-Traders Limited’s account statement as depositors. He confirmed that he was the sole signatory to the account.
Although he maintained that the transactions involving Keyless Nature Limited and Ejadams Essence Limited were foreign exchange dealings linked to Adaudu, Abdullahi admitted that he could not recall the total amount of foreign currency supplied to him.
He explained that he generally delivered the equivalent value of the transactions in foreign currency, either in cash or, on some occasions, through bank transfers.
WITNESS TESTIFIES ABOUT SCHOOL FEES
The bureau de change operator also testified about payments made towards the school fees of children attending the American International School in Abuja.
He told the court that Adaudu supplied the beneficiaries’ names and the relevant account details. The names he identified included Fatima Bello, Zarrah Bello, Zayan Bello, Farid Bello and Na’ima Bello.
Abdullahi said he arranged the payments through colleagues rather than making the transactions directly himself.
He identified Exhibits AX10(1–4) as telex documents relating to the school-fee payments and explained that the documents served as evidence of the transactions.
According to the witness, neither Adaudu nor the children’s parents complained about the payments.
COURT ADJOURNS PROCEEDINGS
Following the testimony, Justice Anenih adjourned the case until 27 October and 24 November 2026 for the continuation of the trial.
Bello and his co-defendants are being prosecuted by the EFCC over alleged criminal breach of trust and money laundering involving ₦110.4 billion.
The latest testimony forms part of the prosecution’s ongoing presentation of evidence. The charges remain allegations, and the court is yet to deliver a final judgment on the case.
