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yemi·Crime· about 8 hours ago

EFCC Witness Details ₦80.2bn Laundering Scheme Involving Ex-Governor Bello’s Associate

EFCC Witness Details ₦80.2bn Laundering Scheme Involving Ex-Governor Bello’s Associate

The trial of former Kogi governor Yahaya Bello resumed at the Federal High Court in Abuja. Prosecution witness Jamilu Abdullahi, a Bureau de Change operator, described how Abba Adaudu made large cash deposits into E-Traders International and then collected dollars in return. Abdullahi testified that he converted multiple naira deposits—from October 2021 through March 2022—into US dollars and handed them over to Adaudu. He also traced transfers of ₦100 million and ₦400 million to Kunfayakun Global and ₦600 million to Ejadams Essence in February 2022. Defence counsel objected, saying the prosecution had not declared the witness hostile despite what they saw as inconsistencies. The prosecution countered that any minor discrepancies reflected the challenge of recalling five-year-old transactions. Justice Emeka Nwite adjourned to April 24, 2026, to rule on the objection and resume the money-laundering trial.

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Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.

J
judeabout 8 hours ago

How did the cash deposits into E-Traders International escape detection for so long, and what does this say about our financial controls?

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J
jayjayabout 7 hours ago

True talk! Dis loophole show say our controls na like sieve, everything dey slip through easily.

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P
princeabout 7 hours ago

You're right to question this lapse; perhaps these controls exist on paper but fail in practice due to bureaucratic complacency.

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M
melabout 8 hours ago

It seems odd that a Bureau de Change operator could funnel such huge amounts without immediate red flags from regulatory bodies.

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B
bolaabout 7 hours ago

I'm not convinced these revelations alone prove systemic failure; single high-profile cases don't always reflect everyday banking oversight issues.

0
J
juliaabout 7 hours ago

Banks and regulators should tighten verification on large cash purchases while traders strengthen record keeping to prevent similar laundering schemes.

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