Bank con­sul­tant, 2 oth­ers ar­rested over N 947m fraud

Daily Trust - - FRONT PAGE -

The Kano State Pub­lic Com­plaints and An­tiCor­rup­tion Com­mis­sion has un­cov­ered a N947.7 mil­lion fraud in the newly es­tab­lished 37 mi­cro­fi­nance banks in the state.

Al­ready, the com­mis­sion has ar­rested the Chief Con­sul­tant to the banks, Al­haji Rabi’u Tudun Wada, the Man­ag­ing Di­rec­tor of the firm, Al­haji Rabi’u Riri­wai and its Di­rec­tor of Re­cruit­ment, Ha­jia Ha­jara Umar.

The Ex­ec­u­tive Chair­man of the com­mis­sion, Mr Muhuyi Ma­gaji, dis­closed this while brief­ing news­men in Kano on Satur­day.

He said the banks were es­tab­lished by the im­me­di­ate past ad­min­is­tra­tion of Gov. Rabi’u Kwankwaso in 37 lo­cal gov­ern­ment ar­eas and handed over to the R.I. and Co. Con­sul­tants on con­tract.

‘‘The R.I. and Co. was man­dated to em­ploy all the man­ag­ing di­rec­tors of the 37 mi­cro­fi­nance banks and the state gov­ern­ment set aside a steer­ing com­mit­tee to su­per­vise the ac­tiv­i­ties of the con­sul­tants’’, he said.

He said the state gov­ern­ment had ini­tially de­posited N740 mil­lion at the Cen­tral Bank of Nige­ria (CBN) as the to­tal share cap­i­tal for the banks which had since been re­funded to the banks by CBN.

‘‘The CBN re­funded the share cap­i­tal de­posits with the ac­crued in­ter­est of N74 mil­lion af­ter is­su­ing li­censes to the banks. But the chief con­sul­tant, R.I. and Co. fraud­u­lently di­rected all the man­ag­ing di­rec­tors of the 37 mi­cro­fi­nance banks to trans­fer N2 mil­lion each, be­ing the ac­crued in­ter­est of the share cap­i­tal for each of the banks, into his com­pany ac­count at the First Bank of Nige­ria Plc. The to­tal amount of money deb­ited in the name of trea­sury bills was N74 mil­lion which was il­le­gal’’, Ma­gaji said.

In ad­di­tion, he said the con­sul­tant claimed to have sup­plied eight desk­top com­put­ers to each of the banks while only six com­put­ers were sup­plied to each of the banks.

‘‘He pock­eted N832, 500 meant for the com­put­ers not sup­plied to the banks’’, he said.

The con­sul­tant was also al­leged to have in­flated the price of 37 Volk­swa­gen cars he pur­chased at the cost of N900, 000 each.

He said as soon as in­ves­ti­ga­tion is con­cluded, the sus­pects would be charged to court for proper pros­e­cu­tion. (NAN).

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