110.4bn Fraud: BDC Operator Details ₦1.425bn Dollar Deals Linked To Yahaya Bello’s Associate

A bureau de change (BDC) operator testifying in the ongoing ₦110.4 billion fraud trial of former Kogi State Governor, Yahaya Bello, has told the FCT High Court in Abuja that ₦1.425 billion was used for dollar transactions linked to Bello’s associate, Abba Adaudu, between December 15, 2021, and February 21, 2022.

Abdullahi, who testified as Prosecution Witness 19 (PW19) in the ongoing trial of former Kogi State Governor, Yahaya Bello, said he delivered the foreign currencies purchased through the transactions to Adaudu.

The Economic and Financial Crimes Commission (EFCC) disclosed this in a statement posted on its verified X handle on Thursday evening, October 15, 2026.

The witness gave his testimony before Justice Maryanne Anineh while being led in evidence by prosecution counsel, Kemi Pinheiro, SAN.

While examining Exhibit AR, which contained transactions between July 2021 and April 2022, Abdullahi identified several cash lodgings and transfers into accounts associated with him and his company, Kunfayakun Global Limited.

He explained that the transactions were for foreign exchange purchases on behalf of Adaudu, rather than gifts or personal deposits.

Confirming cash lodgments of ₦10 million each made by Adaudu through the Lokoja branch, Abdullahi told the court: “My lord, I confirm the cash lodgments of Ten, Ten million Naira by Abba Adaudu from the Lokoja branch. My lord, I confirm I received the cash lodgments. It wasn’t for gift but for a forex transaction.”

He explained that the transactions were for the purchase of United States dollars.

The witness also identified a January 18, 2022 transfer from Keyless Limited, which he said belonged to Adaudu, insisting that the payment was for foreign exchange rather than a gift.

On cash lodgments of ₦9 million, ₦8 million and another ₦8 million recorded in his name through the Lokoja branch on February 22, 2022, Abdullahi denied personally making the deposits.

“In fact, I have never been to that branch in my life, but my name has been used as a beneficiary as any other person’s name can be used as the receiver, and it was a dollar transaction for Abba Adaudu,” he said.

He gave a similar explanation for multiple cash lodgments recorded against his name on March 10 and 11, 2022, maintaining that he had never visited the Lokoja branch.

According to him, the names appearing in the transaction narrations depended on the instructions given by Adaudu.

“My lord, I get to know the cash was paid on Abba Adaudu’s behalf because whenever he makes a lodgment of cash in my account, the indicating narration is Abba Adaudu or Jamilu Abdullahi or any other name of their choice,” the witness said.

He added that he consistently delivered the converted foreign currencies to Adaudu.

“My lord, I always send the converted forex to Abba Adaudu. All the transactions at the Lokoja were from Abba Adaudu,” he told the court.

Abdullahi also identified Exhibit AK as his personal account with Access Bank at the Aminu Kano branch in Abuja.

He confirmed entries showing cash lodgments of ₦10 million each on December 29 and 30, 2021, and January 1 and 31, 2022, but maintained that the deposits were made by Adaudu for foreign exchange transactions.

The witness further told the court 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.

Regarding transactions involving Kunfayakun Global Limited, which he identified as his company, Abdullahi confirmed a credit entry of ₦100 million from Keyless Nature Limited through FCMB, Zone 4, in 2021.

He attributed the transfer to Adaudu.

The witness also identified a ₦400 million transfer through Keyless Nature Limited, which he equally attributed to Adaudu.

In addition, he identified multiple transfers of ₦100 million each, totalling ₦600 million, from Ejadams Essence Limited on February 18, 2022. He told the court that the company belonged to Adaudu.

The testimony forms part of the ongoing prosecution of Bello over alleged financial crimes involving ₦110.4 billion.