Yahaya Bello Arraigned For Alleged N110.4bn Fraud

The former Governor of Kogi State, Alhaji Yahaya Bello, has been brought before the High Court of the Federal Capital Territory (FCT) in Maitama for arraignment on charges of fraud involving over N110 billion. Bello, who had remained elusive until yesterday, was produced by the Economic and Financial Crimes Commission (EFCC) after finally surrendering himself to the agency.

Bello is facing a 16-count charge that includes allegations of conspiracy, criminal breach of trust, and the possession of unlawfully obtained property. The charges are related to the alleged misappropriation of state funds during his tenure as governor. He will stand trial before Justice Maryann Anenih of the FCT High Court, alongside his two co-defendants, Umar Oricha and Abdulsalami Hudu.

The case, marked CR/7781, accuses the former governor and his co-defendants of conspiring to divert substantial sums from Kogi State’s treasury to fund their personal acquisitions. Specifically, the EFCC alleges that Bello misused state funds to acquire several high-value properties in Abuja and abroad.

Among the properties in question are:

• No. 35 Danube Street, Maitama District, Abuja (valued at N950 million)
• No. 1160 Cadastral Zone C03, Gwarimpa II District, Abuja (valued at N100 million)
• No. 2 Justice Chukwudifu Oputa Street, Asokoro, Abuja (valued at N920 million)

Additionally, other properties allegedly acquired with the stolen funds include:

• Block D, Manzini Street, Wuse Zone 4, Abuja (N170 million)
• Hotel Apartment Community: Burj Khalifa, Dubai (Five Million, Six Hundred and Ninety-Eight Thousand, Eight Hundred and Eighty-Eight Dirhams)
• Block 18, Gwelo Street, Wuse Zone 4, Abuja (N60 million)
• No. 9 Benghazi Street, Wuse Zone 4, Abuja (N310.4 million)

In addition to the real estate assets, the EFCC also claims that the defendants transferred significant sums of money to overseas accounts. Specifically, they are accused of transferring $570,330 and $556,265 to TD Bank in the United States. Furthermore, the EFCC alleges that Bello and his co-defendants were in possession of unlawfully obtained property, including N677.8 million from Bespoque Business Solution Limited.

The EFCC operatives arrived at the court premises with armed security before 9 a.m. this morning, as Bello was formally presented for his arraignment. His trial is expected to be closely watched, as it marks a significant step in ongoing anti-corruption efforts within Nigeria’s political elite.

As the proceedings unfold, observers will be looking closely at the legal ramifications of the charges, which carry serious penalties for those convicted of economic crimes. The case has already drawn significant public attention, particularly given the high-profile nature of the accused and the scale of the alleged fraud.