Principal Suspect In The Alleged N4Bn Fraud Arrested In Kano

The Principal Suspect In The Alleged N4Bn Fraud, has been arrested in Kano while about N400 Million Naira was said to have been recovered by the State Public Complaints and Anti Corruption Commission.

ano State Public Complaints and Anti-Corruption Commission (PCACC) says 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.

Kabir Abba Kabir Special Assistant, Media and Publicity to Executive Chairman of the Commission, made this known in a statement issued on Thursday.

He said Inuwa, who is the founder of Association of Compassionate Friends and the sole signatory of a business name 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.

He also said 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.

Mr. Kabir further said 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 (N480,00o0,000.00) was diverted through the bank accounit 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.”

He added that the suspects will soon be charged to court.