General News

Father, son arrested over misappropriation of N4bn

The Kano State Public Complaints and Anti-Corruption Commission (PCACC) on Thursday said it has arrested the former Managing Director of Kano State Agricultural Company (KASCO), Bala Muhammad Inuwa, a principal suspect in the ongoing investigation into the fraudulent diversion of over N4 billion belonging to the Kano State Government, reports Vanguard.

 

The commission also said it has in its custody, Bala Inuwa Muhammed (Jnr), a co-signatory who along with his father misappropriated and diverted the sum of N3.2 billion.

 

The Chairman of the commission, Bar. Muhuyi Rimingado confirmed the arrests in a statement by his Special Adviser, Media & Publicity, Kabir Abba Kabir.

 

The statement reads, “Kano State Public Complaints and Anti-Corruption Commission (PCACC 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.

 

“Inuwa, who 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, 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), 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 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 suspects will soon be charged to court” the statement however reads.

 

It will be recalled that the Kano State Pubic Complain and Anti- Corruption Commission had said it commenced investigation of missing government funds from Kano Agricultural Supply Company (KASCO) amounting to over four Billion Naira and confiscation of some cars, heavy duty vehicles and tractors.

 

The investigation team led by the commission Chairman, Barrister Muhuyi Magaji Rimin Gado stormed a warehouses where cars, heavy duty vehicles and tractors alleged to have been bought with the siphoned money were kept, in Kumbotso local government area of the state.

 

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