Homepage - Online Entertainment and Lifestyle Magazine in Nigeria
www.happenings.com.ng
Saraki
Saraki
Latest

EFCC Begins Moves To Arraign Saraki  Over Diversion Of N2Billion     

Life after office: EFCC set to arraign Bukola Saraki for diversion of public funds.

Funsho Akinwale

The Economic and Financial Crimes Commission has perfected moves for the arraignment of the immediate past Senate President, Olubukola Saraki, for diversion of Kwara State funds running into two billion naira.

The anti-graft commission maintained that Saraki illegally withdrew the money from the state purse while he was the governor between 2003 and 2011.

According to information made available to us, Saraki spent the proceeds from the loot on choice mansions in Lagos and Abuja.

Recall, earlier this year the commission sealed his houses located at 15a, 15b and 17 Macdonald Road, Ikoyi, Lagos, as a result of the ongoing investigation.

Ojilibo Stanley, the counsel to EFCC in his explanation said it had set up a case of money laundering, criminal breach of trust among other issues against the former senate president.

“The Senate President bought the properties from the Presidential Committee on Sale of Federal Government Landed Properties in Lagos through his companies.”

“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“While the applicant was the governor of Kwara State, the total sum of N12bn was withdrawn in cash from the Kwara State Government House’s account domiciled in Zenith Bank,” Stanley stated.

Stanley added that the former Kwara State governor, through his companies, between 2005 and 2006 secured loans worth N1.36b from Intercontinental Bank, now Access Bank, and GTB.

All these are among several cases is expected to face during his trial which commences soon.