Former Kogi Governor Yahaya Bello Granted N500 Million Bail in Money Laundering Case
Yahaya Bello, the former governor of Kogi State, has been granted bail in the sum of N500 million by the Federal High Court in Abuja. Bello was arraigned on Friday on a 16-count charge of money laundering brought against him by the Economic and Financial Crimes Commission (EFCC). The charges allege that Bello and others conspired in February 2016 to convert N80,246,470,088.88, funds allegedly obtained through a criminal breach of trust. This alleged offense violates Section 18(a) and is punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011, as amended. One specific count details how Bello allegedly procured E-Traders International Limited to transfer $570,330 to a US bank account in November 2021. The EFCC claims this sum was part of the proceeds of unlawful activity, specifically a criminal breach of trust. Bello pleaded not guilty to all 16 […]