EFCC Tenders More Fresh Bank Records In Yahaya Bello’s ‘N110.4bn Fraud’ Trial

EFCC tenders more fresh bank records in Yahaya Bello’s ‘N110.4bn fraud’ trial. The Economic and Financial Crimes Commission (EFCC) on Thursday tendered fresh bank records in the ongoing trial of Yahaya Bello, former governor of Kogi state, before a federal high court in Abuja.

Bello is standing trial alongside Umar Shuaibu Oricha and Abdulsalami Hudu on a 16-count charge bordering on criminal breach of trust and money laundering involving about N110.4 billion.

At the resumed hearing before Maryanne Anineh, the presiding judge, the prosecution team, led by Kemi Pinheiro, a senior advocate of Nigeria (SAN), presented prosecution witness six (PW6), Mashelia Arhyel Bata, a compliance officer with Zenith Bank, for further cross-examination.

During cross-examination, Joseph Daudu, counsel to the first and second defendants, questioned the witness on exhibit S1—a statement of account earlier tendered by the prosecution.

Daudu asked the witness to clarify his earlier testimony that the statement of account contained eight columns, particularly the meaning of the “description” column. Bata explained that the column reflected the narration of transactions.

He drew the court’s attention to an entry dated January 20, 2016, which reads: “Cq 158 Abdulsalami Hudu for N10,000,000.”

Bata also pointed out another entry stating, “ZB chq 155 paid Halims Hotels and Tours, Lokoja, N2,454,400.”

When asked whether he knew the purpose for which the N10 million paid to Hudu or the sum paid to Halims Hotels and Tours was used, the witness said he could not determine how the funds were spent or their intended purpose.

Daudu further referred the witness to exhibit X1 and asked him to identify it.
Responding, Bata said it was the account-opening package for a company with account number 1014878995, domiciled at Zenith Bank’s Lokoja branch.

The defence counsel then asked the witness about the number of transactions recorded within specific dates.

While Daudu suggested there were 21 transactions between March 10 and March 12, 2016, the witness said the entries he was working with began from November 14, 2016.
Directing the witness to entries dated December 6, 2016, Daudu asked him to read them out.

Bata told the court that the first entry was a transfer from the Kogi State Internal Revenue Service, credited with N74,378,483.20, adding that another entry on the same day showed a cheque payment of N10 million to Mohammed Jami’u Sallau.

Yahaya Bello

Asked whether the statement indicated the purpose of the payment, the witness said the narration did not indicate the reason for the transaction, adding that the same applied to another N10 million credit in favour of Sallau.

The witness was also cross-examined by Z.B. Abbas, counsel to the third defendant, Abdulsalami Hudu, who asked whether all withdrawals made by the third defendant were by cheque, to which the witness replied in the affirmative, adding that authorised signatories duly signed the cheques.

Abbas also confirmed from the witness that exhibit X1 was the statement of account of the government house account.

On exhibit X2, the witness said the third defendant was introduced to the bank as a civil servant and accountant.

Value-Added Tax: What To Know About VAT Fee For Banking Services

Value-Added Tax: What to know about VAT fee for banking services. On Thursday, banks said they will start deducting 7.5 percent value-added tax (VAT) on banking services, including point of sale (POS) transaction fees, mobile banking transfer fees, from January 19.

In an email to customers, Moniepoint Microfinance Bank said the charge stems from a government-endorsed regulatory change, with the proceeds of the charge remitted to the Nigerian Revenue Service (NRS).

“The NRS has communicated a deadline of 19th January for all financial institutions (commercial banks, microfinance banks and electronic money transfer operators) to start collecting and remitting VAT,” the bank said.

According to the statement, the VAT is not on the actual amount sent by customers but on the service fee.

In this report, TheCable provides a breakdown of what you need to know about the development.
WHAT ARE BANKING SERVICES?

Banking services comprise various financial products and services provided by banks and other financial institutions to individuals, corporations, and government agencies.

Banks usually deduct fixed service charges from customers per transaction on such financial services

For instance, a N50 stamp duty and a N50 electronic money transfer fee is deducted from customers when an electronic transfer is made on transactions.

Such charges include electronic banking charges such as point of sale (POS) transaction fees, mobile banking fees (transfers), unstructured supplementary service data (USSD) transaction fees, and POS activation fees.

Other charges include card issuance fees, SMS alert charges, and account maintenance.

WHAT WILL BE DEDUCTED?
Banks are required to deduct VAT on eligible banking charges and remit it to the NRS.

The fee applies to the service charge, not the actual transaction amount.
For instance, on electronic transfer fee, if a customer intends to send N50,000 to a loved one, the bank deducts N50 as bank charges, the customer will pay the 7.5 percent on the bank charge.

Value-Added Tax

As a result, the 7.5 percent VAT will be applied to the N50, and not the principal amount (N50,000).
Consequently, a total amount of N50,053.75 will be deducted from the customer.

IS VAT CHARGE A NEW DEVELOPMENT?
In a statement on Thursday, the NRS said the VAT charge on banking services, fees, commissions, and electronic money transfers is not newly introduced.

“VAT has always applied to fees, commissions, and charges for services rendered by banks and other financial institutions under Nigeria’s long-established VAT regime,” the statement reads.

According to the service, the Nigeria Tax Act did not introduce VAT on banking charges, nor did it impose any new tax obligation on customers in this regard.

Governor Umo Eno Unveils Economic Empowerment Package For Windows Of Deceased Soldiers, Others

Governor Umo Eno unveils economic empowerment package for windows of deceased soldiers, others. The Akwa Ibom State Government has unveiled a comprehensive economic empowerment package aimed at improving the livelihoods of widows of fallen military, police, and paramilitary personnel through sustainable income-generating initiatives.

Governor Umo Eno announced the programme on Wednesday, during the 2026 Armed Forces Remembrance Day ceremony held at the Cenotaph on Udo Udoma Avenue, Uyo.

As part of the initiative, the state government will construct 150 lock-up stores, comprising 100 for widows of fallen military personnel and 50 for widows of deceased police officers and other paramilitary operatives.

The Governor disclosed that beneficiaries would also receive take-off grants to enable them establish and sustain small-scale businesses.

Pastor Eno explained that the intervention reflects a deliberate shift from short-term financial assistance to long-term economic empowerment for families of fallen heroes who paid the ultimate price in the service of the nation.

“In line with our commitment to the welfare of families of our fallen heroes, we are deliberately moving beyond one-off financial support to programmes that provide lasting economic stability,” the governor stated.

Beyond the empowerment package, Governor Eno also announced immediate financial support totalling N120 million in appreciation to the serving personnel, a N10 million donation to officers on parade, an additional N20 million to widows present at the ceremony, as well as another N20 million to the Nigerian Legionaries, reaffirming his administration’s tradition of recognising sacrifice and excellence.

He recalled that in the previous year, the state government disbursed N250 million as welfare support, including N150 million to widows of fallen military personnel and N100 million to widows of fallen police officers.

According to Governor Eno, construction of the lock-up stores will commence immediately after the relevant service formations make land available for the project.

He added that the Coordinator of the Office of the First Lady, the Ministry of Women Affairs, and the Bureau of Cooperatives will jointly coordinate and supervise the project to ensure prompt and timely delivery.

Speaking on national unity and politics, Governor Eno urged leaders to continue to see politics as a platform for service rather than bloodshed, commending chairmen of political parties for personally attending the remembrance event.

He expressed optimism that leaders across party lines would continue to embrace politics of ideas, development, and peaceful engagement.

On national security, the Governor commended President Bola Ahmed Tinubu, GCFR, for what he described as decisive leadership in tackling Nigeria’s security challenges, noting observable improvements across various parts of the country.

Governor Umo Eno Unveils Economic Empowerment Package

He also glowing tribute to the courage and sacrifices of officers and men of the Armed Forces who lost their lives in active service and those that are currently engaged in various theatres of operations across the nation.

Reaffirming his administration’s commitment to security agencies, Governor Eno recalled previous interventions including the completion and commissioning of internal roads at the Police Headquarters in Ikot Akpan Abia last year.

He disclosed that the Command and Control Centre would be completed soon, alongside continued provision of amenities across service formations to enhance operational effectiveness.

The Armed Forces Remembrance Day is marked annually to honour Nigerian military personnel who died in the line of duty, while also recognising the sacrifices of veterans and their families.

Governor Eno while calling on corporate organizations to support the security agencies, also called for continued peace in Akwa Ibom State and across Nigeria, stressing that the sacrifices of the nation’s fallen heroes must never be forgotten.