The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has disclosed that an investigation has uncovered the withdrawal of $720,000 from a government account by former Kogi State Governor, Mr. Yahaya Bello.
The funds were allegedly transferred to a Bureau de Change to pay for his child’s school fees in advance.
During a press conference in Abuja on Tuesday, Mr. Olukoyede emphasized that the EFCC’s actions are not a witch-hunt but a necessary step towards ensuring accountability and the betterment of Nigeria.
He expressed his passion for the country’s progress and questioned the ethics of transferring such a significant amount of money from the government’s coffers to a private entity.
The former governor is also facing 19-counts, including allegations of money laundering, breach of trust, and misappropriation of public funds amounting to N80 billion.
The charges suggest that Bello and his associates converted public funds for personal use in February 2016.
Furthermore, the EFCC alleges that between July 26, 2021, and April 6, 2022, Bello aided a firm, E-Traders International Limited, in concealing over N3 billion in an Access Bank account.
These developments have led to a significant impact on the value of the naira and the foreign exchange market, as noted by Mr. Olukoyede.
Bello has expressed his readiness to appear before the Federal High Court in Abuja to respond to these allegations. The EFCC chairman has also stated that he would resign if the former governor is not prosecuted to a logical conclusion, highlighting the gravity of the situation and the commitment of the EFCC to its mandate.
This case has drawn considerable attention to the issue of corruption in Nigeria, with the EFCC seeking the support of the Nigerian populace to ensure the success of its mission to combat financial crimes.