The EFCC is alleging that Saraki illegally withdrew the funds while he was the Governor of the state between 2003 and 2011
Published: JUN 29, 2019
Published: JUN 29, 2019
The Economic
and Financial Crimes Commission (EFCC) has begun the process to arraign Bukola
Saraki, immediate past President of the Nigerian Senate for allegedly diverting
money from the treasury of the Kwara State.
The EFCC is
alleging that Saraki illegally withdrew the funds while he was the Governor of
the state between 2003 and 2011.
According to
the anti-graft agency, Saraki used the said fund to purchase houses and four
flats in Lagos from the Presidential Implementation Committee for the Sale of
Government Property through shell companies.
The EFCC said
Mr. Saraki, through his companies, had taken loans worth N1.36 billion from the
Guaranty Trust Bank (GTB) and Intercontinental Bank (now Access Bank) between
2005 and 2006.
In a bid to offset the loan, the anti-graft agency said the
ex-governor began to divert N100 million from the coffers of the state monthly.
The agency had in May sealed Saraki’s house located at 15a, 15b
and 17 MacDonald Road, Ikoyi, Lagos.
The properties
sealed are mostly houses declared by Saraki and he was subsequently placed
under strict restriction by the anti-graft agency.
The agency in
an affidavit deposed to by Ojilibo Stanley on behalf of the EFCC, the agency
said it had established a case of money laundering, criminal breach of trust
and conspiracy against Saraki.
The EFCC had,
while presenting evidence against Saraki before the Code of Conduct Tribunal in
2016, alleged that he owned houses on MacDonald Road but there were
discrepancies in the addresses.
The EFCC
witness, Michael Wetkas, had said an investigation revealed that House No.15 MacDonald
Road, Ikoyi, Lagos, and Block 15 Flat 1 to 4 on the same street belonged to
Saraki.
According to
him, “the Senate President bought the properties from the Presidential
Committee on Sale of Federal Government Landed Properties in Lagos through his companies.”
The EFCC also
said Saraki had through his companies between 2005 and 2006 taken loans worth
N1.36bn from the Guaranty Trust Bank and Intercontinental Bank (now Access
Bank).
The affidavit sworn to by Stanley
stated that on February 28, 2005, the Presidential Implementation Committee on
the sale of Federal Government Landed Properties wrote a letter conveying to
Saraki the approval of then-Minister of Lands and Housing for the sale of
properties at 15 and 17 Macdonald Road, Ikoyi.
The EFCC said
sequel to the letter Saraki wrote dated March 8, 2005, to Guaranty Trust Bank
requesting N200 million loan to finance the acquisition of the properties on
March 24, 2005, GTB approved the loan to partly finance the purchase of the
properties.
The anti-graft
agency said on October 11, 2006, another personal loan of N380m was granted to
Saraki by GTB to partly finance the acquisition of properties located at 17 and
17A Macdonald Road, Ikoyi.
The commission
further claimed that on January 30, 2007, a personal loan of N380m was again
granted to the former governor to partly finance the same properties.
It said on
April 28, 2009, another personal loan of N400m was obtained by Saraki to
develop the same properties.
The affidavit
said, “The personal loans used to acquire the properties were later liquidated
with the proceeds of the applicant’s (Saraki’s) criminal breach of trust or
misappropriation of funds of the Kwara State Government.
“The applicant
(Saraki) procured one Abdul Adama who was his personal member of staff to
receive cash from then-Controller of Finance and Account of Government House,
Kwara State, Mr. Isiaka Kareem, on a monthly basis, the sum of N100m.
“While the
applicant was the governor of Kwara State, the total sum of N12bn was withdrawn
in cash from the Kwara State Government House’s account domiciled in Zenith
Bank.”
Saraki had
stated in an affidavit he deposed to in support of the origination motion that
acting EFCC Chairman, Ibrahim Magu, was on a revenge mission because of the
role he (Saraki) played in blocking his confirmation as EFCC chairman.
He said, “Apart
from the instigation by my political adversaries, my close contacts have
confirmed to me that the 4th respondent (EFCC) renewed its harassment as a way
of punishing me for the decision of the Senate not to clear acting chairman of
the EFCC, Alhaji Ibrahim Magu, to be appointed as the substantive chairman of
the commission.”
He maintained
that the allegations levelled against him were not new as he had been charged
before the CCT and emerged victorious.
The case has
been adjourned until July 2, 2019.