Alleged N80 Billion Fraud Case: Court Grants Yahaya Bello N500M Bail

The Federal High Court in Abuja has granted former Governor of Kogi State, Yahaya Bello, N500 million bail in the 16-count money laundering charges instituted by the Economic and Financial Crimes Commission (EFCC).

Bello had pleaded not guilty before Justice Emeka Nwite on Friday following his arraignment by the EFCC.

Bello and others were accused of conspiring in February 2016 to convert N80,246,470,088.88, allegedly obtained through a criminal breach of trust, in violation of Section 18(a) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011, as amended.

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Nairametrics reports that today’s case followed over four proceedings in which the ex-governor was absent due to pending legal disputes raised by his legal team in higher courts.

At the resumed sitting, EFCC counsel Kemi Pinheiro, SAN, urged Justice Emeka Nwite to approve the reading of the charges to Bello.
Pinheiro’s request was not opposed by Bello’s lawyer, Joseph Daudu SAN.

Count 18 of the charges reads: “That you, Yahaya Adoza Bello, sometime in November 2021 in Abuja, within the jurisdiction of this Honourable Court, indirectly procured E-Traders International Limited to transfer the aggregate sum of $570,330.00 (Five Hundred and Seventy Thousand, Three Hundred and Thirty Dollars) to account number 4266644272 domiciled in TD Bank, United States of America, which sum you reasonably ought to have known forms part of the proceeds of unlawful activity, to wit, criminal breach of trust, and you thereby committed an offence contrary to Section 15(2)(d) of the Money Laundering (Prohibition) Act, 2011 as amended and punishable under Section 15(3) of the same Act.”

The ex-governor pleaded not guilty to all the 19 charges as read to him by the registrar.

Bello’s lawyer, Daudu, then stated that since he was leading the new team of defense lawyers, he wished to clarify that his client did not deliberately refuse to appear in court but rather directed his lawyers to legally challenge the jurisdiction of the trial court up to higher courts.

“With respect, my client did not disrespect the court. Things are clearer now,” Daudu said.

In seeking bail, Daudu asked the court to note that the defendant, as a two-term governor of his state, had only traveled abroad twice.

He pledged that his client would be in court throughout the trial and would not jump bail.

The EFCC did not oppose the request for bail, stating that it is at the court’s discretion.

He said bail is the constitutional right of a party.

“I hereby grant bail to the defendant in the sum of N500 million and two sureties in like sum who must possess landed property in Abuja,” he ruled.

He also ordered that the defendant shall deposit his international passport with the court, adding that he shall be remanded at the Kuje Correctional Centre pending the perfection of the bail conditions.

The judge then adjourned the case to February 24, 28, 2025, and March 6 and 7 for trial.