The Economic and Financial Crimes Commission (EFCC) has commenced its prosecution of former Kogi State Governor, Yahaya Bello, on a 16-count charge bordering on money laundering, conspiracy, criminal breach of trust, and possession of unlawfully obtained property.
At the Federal High Court in Abuja, Fabian Nwaora, a real estate businessman and owner of EFAB Properties, took the stand as the first witness for the prosecution in the case marked CR/7781.
This followed a ruling by Justice Maryann Anenih, who overruled objections raised by Bello and his co-defendants—Ali Bello, Dauda Suleiman, and Abdulsalami Hudu—who argued that the EFCC had not provided all relevant evidence. The court rejected their request for an adjournment, stating that there was no formal application to back the claim.
N550 Million Property Deal Between EFAB and Bello’s Associate
In his testimony, Fabian Nwaora revealed that in 2020, his company, EFAB Properties, sold a property located at No. 1 Ikobosi Street, Maitama, Abuja, for N550 million to Shehu Bello, a known associate of Yahaya Bello.
However, in 2023, Shehu Bello returned all the property documents to EFAB and informed the company that the EFCC was investigating the transaction.
Subsequently, Fabian Nwaora was summoned by the EFCC, where he was instructed to refund the N550 million to a specific account provided by the anti-graft agency.
Yahaya Bello’s Alleged Fraud and Property Acquisitions
According to the EFCC, Yahaya Bello is accused of embezzling N110 billion from the Kogi State Treasury between 2016 and 2024 and using the funds to acquire multiple luxury properties both in Nigeria and abroad.
The allegedly illicit properties include:
•No. 35 Danube Street, Maitama District, Abuja (N950 million)
•No. 1160 Cadastral Zone C03, Gwarimpa II District, Abuja (N100 million)
•No. 2 Justice Chukwudifu Oputa Street, Asokoro, Abuja (N920 million)
•Block D, Manzini Street, Wuse Zone 4, Abuja (N170 million)
•No. 18, Gwelo Street, Wuse Zone 4, Abuja (N60 million)
•No. 9, Benghazi Street, Wuse Zone 4, Abuja (N310.4 million)
•Hotel Apartment in Burj Khalifa, Dubai (AED 5,698,888)
•Funds transferred to TD Bank, USA: $570,330 and $556,265
•Funds linked to Bespoque Business Solution Limited: N677.8 million
Bail and Court Proceedings
Bello was initially remanded in Kuje Prison following his December 10, 2024, court appearance, while his co-defendants were granted bail. However, he was later released on N500 million bail, with three sureties in like sum.
The trial is set to continue on April 3, 2025, as the EFCC pursues further evidence against the former governor and his associates.
