{"id":126916,"date":"2026-05-07T02:15:05","date_gmt":"2026-05-07T01:15:05","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=126916"},"modified":"2026-05-07T05:21:25","modified_gmt":"2026-05-07T04:21:25","slug":"alleged-%e2%82%a680-2bn-fraud-trial-maitama-property-paid-for-in-cash-dollars","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/alleged-%e2%82%a680-2bn-fraud-trial-maitama-property-paid-for-in-cash-dollars\/","title":{"rendered":"Alleged \u20a680.2bn Fraud Trial: Maitama Property Paid for in\u00a0 Cash Dollars"},"content":{"rendered":"<div id=\"m#msg-f:1864458627157025433\" class=\"mail-message expanded\">\n<div id=\"m#msg-f:1864458627157025433-header\" class=\"mail-message-header spacer\" style=\"text-align: justify;\">By Oscar Okhifo<\/div>\n<div id=\"m#msg-f:1864458627157025433-content\" class=\"mail-message-content collapsible zoom-normal mail-show-images \">\n<div class=\"clear\">\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">A prosecution witness, Shehu Bello, on Wednesday told the Federal High Court in Maitama, Abuja, that a property located at\u00a0<a href=\"https:\/\/www.google.com\/maps\/search\/No.+1+Ikogosi+Spring+Close,+Maitama?entry=gmail&amp;source=g\">No. 1 Ikogosi Spring Close, Maitama<\/a>, was purchased for \u20a6550 million and paid for in cash in\u00a0 United States dollars<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The testimony was given during the ongoing trial of former Kogi State Governor, Yahaya Bello, who is facing charges brought by the Economic and Financial Crimes Commission (EFCC) over alleged money laundering involving \u20a680.2 billion.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The EFCC, led by counsel Olukayode Enitan, SAN, said the case involves alleged laundering of \u20a680,246,470,088.88.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Testifying under examination-in-chief, the witness, a real estate agent and commodity trader, said the transaction was concluded in cash despite an agreed naira valuation.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cWe agreed \u20a6550 million, but it was paid in U.S. dollars in cash. I was also paid my commission in cash,\u201d he told the court.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">He also told the court he facilitated another property purchase in Wuse Zone 7, Abuja, valued at \u20a6105 million, which was paid via bank transfer.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The witness further disclosed previous dealings with Ali Bello, describing him as a friend and business associate.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cAli Bello is my friend. We have done some businesses together in the past, commodity and property business,\u201d he said.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">He added that he sold his own property in Guzape District, Abuja, to Ali Bello for \u20a668 million, having earlier bought it for \u20a663 million.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Another witness, Baba Isa Usman Baffa, an estate surveyor, testified on a separate transaction involving Shop B13 at Cityscape Shariff Plaza, Wuse 2, Abuja, confirming payments totaling \u20a666 million, including agency fees.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Earlier, Bureau de Change operator Jamilu Abdullahi was cross-examined over an alleged $300,000 transaction linked to school fees payment to the American International School.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u00a0He told the court he could not fully recall details due to the passage of time.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cMy Lord, the answer is a little more than yes or no. When I explain, I will then answer,\u201d he said during cross-examination.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">He later confirmed he is a licensed Bureau de Change operator and denied operating illegally.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Justice Emeka Nwite adjourned the matter till May 7, 2026, for continuation of trial.<\/div>\n<div id=\"m_6090315154430179084ymail_android_signature\" style=\"text-align: justify;\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Oscar Okhifo A prosecution witness, Shehu Bello, on Wednesday told the Federal High Court in Maitama, Abuja, that a property located at\u00a0No. 1 Ikogosi Spring Close, Maitama, was purchased&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":126923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-126916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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