A bureau de change operator informed the Federal Capital Territory High Court in Abuja that he managed foreign exchange deals totaling ₦1.425 billion on behalf of Abba Adaudu spanning from December 2021 through February 2022.
A bureau de change operator has told the Federal Capital Territory High Court in Abuja that he handled foreign exchange transactions worth ₦1.425 billion on behalf of Abba Adaudu between December 2021 and February 2022.
The witness, Jamilu Abdullahi, who testified as Prosecution Witness 19 (PW19), said he converted the funds into foreign currencies and delivered the money to Adaudu.
Abdullahi gave the testimony on Thursday, October 15, 2026, before Justice Maryanne Anineh of the FCT High Court, Maitama, while being led in evidence by prosecution counsel, Kemi Pinheiro, SAN.
The transactions were presented during the ongoing trial of former Kogi State Governor, Yahaya Bello, who is being prosecuted by the Economic and Financial Crimes Commission (EFCC) over an alleged ₦110.4 billion fraud.
Examining Exhibit AR, which contained transactions between July 2021 and April 2022, the witness confirmed several cash lodgements of ₦10 million each made by Adaudu through the Lokoja branch.
“My lord, I confirm the cash lodgments of 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 said.
He explained that the funds were used to purchase United States dollars.
The witness also identified a transfer dated January 18, 2022, from Keyless Limited, which he said belonged to Adaudu, insisting that the payment was for foreign exchange and not a gift.
However, Abdullahi denied personally making several cash deposits of ₦9 million, ₦8 million and another ₦8 million recorded in his name on February 22, 2022.
“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 told the court.
He gave a similar explanation for cash lodgements 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 Adaudu’s instructions.
“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,” he said.
Abdullahi added that he consistently handed the purchased 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 said.
The witness also identified Exhibit AK as his personal Access Bank account at the Aminu Kano branch in Abuja.
He confirmed cash lodgements of ₦10 million each on December 29 and 30, 2021, and January 1 and 31, 2022, but said Adaudu made the deposits for foreign exchange transactions.
He 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.
On transactions involving Kunfayakun Global Limited, which he identified as his company, Abdullahi confirmed a ₦100 million credit from Keyless Nature Limited through FCMB, Zone 4, in 2021.
He attributed the transfer to Adaudu.
He also identified a ₦400 million transfer through Keyless Nature Limited, which he said was made by Adaudu.
In addition, the witness identified multiple transfers of ₦100 million each, totalling ₦600 million, from Ejadams Essence Limited on February 18, 2022.
He said the company belonged to Adaudu.
He further identified a ₦325 million transfer through Ejadams Essence Limited on February 21, 2022, also attributing it to Adaudu.
Abdullahi maintained that the funds were used for foreign exchange transactions and that he delivered the currencies purchased to Adaudu.
The witness also explained his involvement in payments to the American International School, Abuja (AISA), saying accounts associated with Forza Oil, Alyeshua and Whales Oil and Gas were used to make school fee payments on behalf of children.
He said Adaudu provided the payment instructions and account details used for the transactions.
Abdullahi identified Fatima Bello, Zahra Bello and Na’ima Bello as names associated with the school fee payments.
He said he transferred funds to the school’s account using the details provided by Adaudu.
He also identified Exhibits AX 10 (1–4), described as telexes, as receipts for payments made to the school.
According to him, he forwarded the receipts to Adaudu as evidence that the payments had been completed.
The witness said he received no complaints from Adaudu or the children concerning the payments.
During cross-examination by counsel to the first and second defendants, Abdullahi Yahaya, SAN, the witness said he had no direct dealings with any of the defendants.
Asked about the total amount he handed to Adaudu, he said he could not recall the exact figure because of the numerous transactions.
“I gave Abba Adaudu the cash and I have evidence,” he said.
Justice Anineh adjourned the case until October 27 and November 24, 2026, for continuation of the trial.
Bello is being prosecuted alongside Umar Shuaibu Oricha and Abdulsalami Hudu on 16 counts bordering on criminal breach of trust and money laundering involving ₦110.4 billion.
What You Should Know
This court testimony is part of the high-profile Economic and Financial Crimes Commission (EFCC) trial involving former Kogi State Governor Yahaya Bello over an alleged ₦110.4 billion fraud. The witness detailed how large cash deposits and bank transfers were systematically converted into foreign currencies and used for various expenses, including overseas school fees.
- Positive Impact: Transparency and public accountability are enhanced as financial institutions and operators shed light on illicit funds movement.
- Potential Concerns: The revelations highlight persistent vulnerabilities in the nation’s financial system regarding money laundering and the misuse of bureau de change networks.
