From Mustapha Adamu, Kano
Kano State Public Complaints and Anti-Corruption Commission (PCACC) has said that it has arrested one Bala Muhammad Inuwa, the principal suspect in the ongoing investigation into the fraudulent diversion of over N4 billion, belonging to the Kano State Government.
Recall that the Chairman of the PCACC, Muhuyi Magaji Rimin-Gado had last week revealed that the said money was siphoned from Kano Agricultural Supply Company, KASCO.
Rimin-Gado disclosed this when he led an investigation tour to a warehouses were alleged cars and heavy duty tractors, believed to have been bought by the missing funds were being kept in Kumbotso Local Government area of the state.
Addressing journalists after the tour, Mr Rimin-Gado said the funds were mischievously transferred from KASCO to an association registered with the Corporate Affairs Commission, named Association of Compassionate Friends and a company, Limestone Processing Link.
“We are here on an on-site inspection tour of an ongoing investigation leading to missing fund from Kano Agricultural Supply Company, KASCO, amounting to N4,302,290,742 within the range of six months, from August 19, 2022 to April 3, 2023.
In a statement on Thursday, signed by Kabir Abba Kabir, Special Assistant to the PCACC Chairman, the commission said the arrested Inuwa is the founder of Association of Compassionate Friends and the sole signatory of a business name entity Limestone Processing Link used for the diversion of the fund.
The statement said the suspect was arrested after he broke into sealed warehouses that were confiscated, pursuant to Section 40 of the Kano State Public Complaints and Anti-Corruption Law 2008 (as amended), adding that the action was sanctioned by the order of the court.
In the statement, the commission explained that 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 KASCO as grant.
“Also in custody is Bala Inuwa Muhammed (Jr), a co-signatory who along with his father misappropriate 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; an association which was registered under Part C of the Companies and Allied Matters Act and 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 manage 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 statement said.
The commission added that the suspects woukd soon be charged to court.
