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June 21, 2024

Alleged N4 Billion Fraud:Kano Anti-Corruption Commission Arrests Principal Suspect

By Abdullahi Yusuf

The Kano State Public Complaints and Anti-Corruption Commission (PCACC) has arrested one Bala Muhammad Inuwa, the principal suspect in the ongoing investigation into the alleged fraudulent diversion of over N4 billion belonging to the State Government.

This is contained in a statement issued on Thursday in Kano by the SA Media & Publicity to the Executive Chairman of the commission,Malam Kabir Abba Kabir.

The statement said Inuwa is the founder of Association of Compassionate Friends and the sole signatory of a business narne entity Limestone Processing Link used primarily for the diversion of the fund.

It said he was arrested after he allegedly broke into sealed warehouses that were confiscated pursuant to Section 40 of the Kano State Public Complaints and Anti-Corruption Law 2008 (as amended), an action which is also sanctioned by the order of the court.

The seizure was in connection with the alleged criminal misappropriation, diversion, and making false statement or return of over Four Billion Naira (N4,000,000,000.00) Kano State Government funds remitted to the Kano Agricultural Supply Company (KASCO) as a grant,the release said.

Also in custody, according to the statement,is Bala Inuwa Muhammed (Jr), a co-signatory who along with his father misappropriated and diverted the sum of Three Billion Two Hundred and Seventy-Five Million Six Hundred and Eighty-Five Thousand Seven Hundred and Forty-Two Naira (N3,275,685,742.00) through the bank accounts of the Association of Compassionate Friends.

It said the association was registered under Part C of the Companies and Allied Matters Act but whose objective does not include conducting any kind of business.

“Also, the sum of Four Hundred and Eighty Million Naira (N480,000,000.00) was diverted through the bank account of a business name ‘Limestone Processing Link’ which is being managed by the founder of Association of Compassionate Friends out of which Four Hundred Million Naira (N400,000,000.00) was allocated as a fixed deposit and some amounts were transferred to bank account bearing the name of Bala Mohammed Inuwa,” the release said.

It added that the suspects would soon be charged to court.

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