Abba Adaudu: An associate of Yahaya Bello, named in forex racketeering in N110.4 billion fraud [Investigation]

Abba Adaudu is a young man from Benue State who is an associate of the former governor of Kogi state, Yahaya Adoza Bello. Bello ruled from 2016 to 2024.

On October 15, 2026, the name of Abba Adaudu featured prominently in the FCT High Court sitting in Maitama, Abuja, where the prosecution witness, a bureau de change operator, Jamilu Abdullahi testified before the Court that he personally handled foreign exchange on behalf of Abba Adaudu between December 2021 and February 2022.

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The witness said the hard currencies were converted and delivered to Abba Adaudu. He further told the honourable Justice Maryanne Anenih-led FCT High Court that, the upfront payment of Yahaya Bello’s children were funnelled through bank accounts linked to Abba Adaudu.

The ongoing prosecution of the former governor of Kogi State, Yahaya Adoza Bello in the alleged money laundering and stealing of Kogi state government funds to the tune of a whooping sum of N110.4 billion has brought to fore the role of Bello’s associate as a “Forex Racketeer”, where he converts hard currencies for his governor ally.

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The bureau de change operator in his testimony, out of the sum of N110.4 billion, the sum of N1.425 billion was spent on Forex transactions.

CAPITAL POST reported that, Jamilu Abdullahi, a prosecution witness PW19 revealed that he personally delivered the foreign currencies purchased through the transactions to Abba Adaudu between December 15 and February 21, 2026.

Mr Adaudu has never been in the employment of Kogi state, but identifies with a limited liability companies as revealed in Court documents, including Keyless Nature Limited and Ejadams Essence Limited. These companies were used to carry out money laundering and forex racketeering transactions that have become a subject of litigations in Court.

While being led in evidence by the prosecution lawyer, Kemi Pinheiro the bureau de change operator submitted that there were series of Forex transactions leading to lodgement of large amount of funds and transfers into accounts linked to Abba Adaudu.

Part of the evidence he submitted to and confirmed were Exhibit AR, which contained transactions between July 2021 and April 2022. According to him, cash lodgments of ₦10 million each were made daily by Adaudu through the Lokoja branch.

He said: “My lord, I confirm the cash lodgments of Ten, 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.

Lodgements dated February 22, 2022, comprising ₦9 million, ₦8 million and another ₦8 million, which were recorded in his name through the Lokoja branch, Abdullahi denied personally making the deposits.

The bureau de change operator spoke further on cash lodgements in his name, but wasn’t a beneficiary, denying that lodgements made in Lokoja branch were not in his favour, but dollar transactions for Abba Adaudu.

He gave a similar explanation for multiple cash lodgments recorded against his name on March 10 and 11, 2022, insisting that he had never visited the Lokoja branch.

According to him, the names used 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,” the witness said.

He added that the transactions were carried out for foreign exchange purposes and that he consistently handed the converted 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.

Abdullahi also identified Exhibit AK as his personal account with Access Bank, Aminu Kano branch, Abuja. He confirmed entries indicating cash lodgments of ₦10 million each on December 29 and 30, 2021, and January 1 and 31, 2022, but maintained that the deposits were made by Adaudu for foreign exchange transactions rather than by him personally.

The witness further testified that he sometimes handed 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 credit entry of ₦100 million from Keyless Nature Limited through FCMB, Zone 4, in 2021. He told the court that the transfer was made by Adaudu.

He also identified a ₦400 million transfer through Keyless Nature Limited, which he attributed to Adaudu, as well as multiple transfers of ₦100 million each, totaling ₦600 million, from Ejadams Essence Limited on February 18, 2022. He said Ejadams Essence Limited belonged to Adaudu.

The witness further identified a transfer of ₦325 million through Ejadams Essence Limited on February 21, 2022, also attributed to Adaudu. He maintained that the transactions were for foreign exchange and that he delivered the currencies purchased to Adaudu.

Continuing his testimony, Abdullahi explained how he became familiar with accounts associated with Forza Oil, Alyeshua and Whales Oil and Gas, stating that they were the accounts used in making payments to the American International School, Abuja (AISA), for school fees on behalf of children whose payment instructions and account details were provided to him by Adaudu.

The witness identified the names: Fatima Bello, Zahra Bello and Na’ima Bello as familiar names associated with the school fees transactions. He also indicated that another name mentioned to him was familiar, although he could not recall it precisely. According to him, he carried out the payments by transferring funds to the school’s account using the details supplied by Adaudu.

He also identified Exhibits AX 10 (1–4), described as telexes, as receipts evidencing payments made to AISA. He said he sent the receipts to Adaudu as proof that the transactions had been completed. When asked whether he received any complaint from Adaudu or the children concerning the payments, the witness answered in the negative.

Under 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. When asked about the total amount he gave Adaudu, Abdullahi said he could not remember the exact sum because the transactions were numerous. “I gave Abba Adaudu the cash and I have evidence,” he said.

Following the testimony, Justice Anineh adjourned the case until October 27 and November 24, 2026, for continuation of trial.

CAPITAL POST investigation further revealed that the Abba Adaudu’s company, Keyless Nature Limited maintained an account with Access Bank and is into financial transactions, including foreign exchange purchases.

The status of the account indicated that the sum of N2.1 billion loan was disbursed to the company in December 2021 by Access Bank.

Also, the second company, Ejadams Essence Limited linked to Yahaya Bello’s ally has similar financial transactions of funds transfer and foreign exchange transactions.

Ejadams status showed that the sum of N600 million was transferred in multiple transactions on February 18, 2022 and another N325 million on February 21, 2022 from the Company’s account. It was further revealed that the sum of N20.5 million was transferred from Keyless Nature Limited to Ejadams Essence Limited.

Checks about the personae in the midst of the storm showed that he is a financial expert and tax consultant and a titled chief in Idoma land, in Benue South Senatorial District in the North Central Nigeria.

The title was conferred on him on June 29, 2024 by the Idoma Area Traditional Council by His Majesty, Agaba-Idu Dr Elaigwu John Odogbo Obagaji in Otukpo, Benue State.

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