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How Zamfara Governor allegedly laundered state funds through cash withdrawals

Just lately, operatives of the Financial and Monetary Crimes Fee (EFCC) found billions of Naira in cash stashed in numerous homes of some serving state governors. Three governors, particularly Mr Mohammed Bello Matawalle of Zamfara State, Mr Nyesom Wike (Rivers) and Mr Abdullahi Umar Ganduje (Kano) have been fingered because the alleged culprits. The anti-graft company stated it was intently monitoring the suspicious cash stockpiles declaring that intelligence reviews at its disposal about their stashing of billions of Naira inside numerous homes positioned within the nation’s capital and different cities seems incontrovertible.

The Chairman of EFCC, Abdulrasheed Bawa has since confirmed that three serving state governors have been being monitored over their suspected strikes to launder stashed billions of naira through the cost of salaries to employees. He additionally acknowledged final week that the variety of governors on the EFCC watch checklist has elevated.

The determined transfer by the governors to launch such stashed funds is probably not unconnected with the latest announcement by the Central Financial institution of Nigeria (CBN) of the Federal Authorities’s determination to revamp the upper denominations of naira notes.

An impartial investigation Zamfara Various Discussion board has uncovered how the Zamfara State All Progressives Congress (APC) administration below Governor Bello Matawalle resorted to shady follow of withdrawing enormous sums in cash from the state treasury.

It was additional revealed how billions of cash have been withdrawn from accounts linked to Zamfara State Authorities. The accounts are: Zamfara State Government Governor’s Workplace UBA account quantity 101xxxx657, Zamfara State VAT Zenith Financial institution Account number101xxxx255, Zamfara State FAAC UBA Account quantity 100xxxx140 and the Zamfara State ISPO Extra Bond Constancy Checking account quantity 503xxxx649.

Different accounts embody the Accountant Gen. (Inc.) Schooling Levy Zenith Financial institution Account quantity 101xxxx730, Everlasting Secretary Authorities Home Zenith Financial institution Account quantity 101xxxx551, Careers Particular Companies and Dwelling Affairs Expenditure Directorate of Recruitment and Quota System Zenith Financial institution Account quantity 101xxxx564 and Zamfara State Accountant Common Zenith Financial institution Account quantity 101xxxx572.

Between Might 2019 and 13 August 2020, there have been a number of cash and switch transactions involving the accounts thought-about to don’t have any socio-economic benefit to the state. The transactions have been frequent fund transfers and subsequent cash withdrawals that disguised the true beneficiary of funds.

Our supply confirmed {that a} Federal Authorities Company has forwarded an enquiry to the Zamfara State Authorities to elucidate the explanations for the frequent cash transactions. It was acknowledged that many of the withdrawals have been for the State Authorities’s administrative expenditures.

Particulars of some questionable transactions and withdrawals from the eight listed accounts have been made accessible to us. Nonetheless, for functions of privateness below monetary guidelines and rules we is not going to be disclosing the complete particulars similar to the entire account numbers and the financial institution verification numbers (BVNs).

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With regard to Zamfara State Government Governor’s Workplace UBA account quantity 101xxxx657, the signatories to the account as on the interval of the suspicious transactions have been Kabiru Balarabe whose recorded date of start is 15 March, 1966 linked to telephone quantity 0803xxx8306 and a Financial institution Verification Quantity (BVN) 222xxxxx440 and Bashir Salihu whose start date is 21 January 1975 linked to telephone quantity 0806xxx5828 and Financial institution Verification Quantity 223xxxxx372.

The 2 signatories to the Zamfara State FAAC UBA Account quantity 100xxxx140 are Abubakar Bello Ruwan Dorawa with 12 June 1960 start date linked to telephone quantity 0706xxx6412 and BVN 221xxxxx685 and Aliyu Aminu Abubakar born 4 March, 1966 with telephone numbers 0806xxx3333 and BVN 221xxxxx919.

The Zamfara State VAT Zenith Financial institution Account number101xxxx255 equally has two signatories as follows – Abubakar Bello Ruwan Dorawa, with date of start given as 12 June, linked to telephone quantity 0706xxx6412 and BVN 221xxxxx685 along with Aliyu Aminu Abubakar with a date of start given as 4 March 1966 and linked to telephone quantity 0806xxx3333 and BVN 221xxxxx919.

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As for the and the Zamfara State ISPO Extra Bond Constancy Checking account quantity 503xxxx649, the account signatory is given as Maikano Yanruwa Mohammed with date of start given as 30 November 1969, telephone quantity 0803xxx1583 and linked to BVN 222xxxxx901.

Regarding the Accountant Gen. (Inc.) Schooling Levy Zenith Financial institution Account quantity 101xxxx730, the signatories embody one Aliyu Aminu born 4 March 1966, linked to telephone numbers 0806xxx3333 and 0803xxx5390 whose deal with is the Ministry of Finance Gusau and No 1 Aminu Aliyu Tudun Wada Talata Mafara, Gusau, Zamfara State. He’s additionally recognized by Nationwide Identification Quantity ZF171966690, a Driving license quantity GUS07579AA1 and BVN 222xxxxx515.

Related particulars have been additionally given for different accounts concerned within the withdrawals particularly, Everlasting Secretary Authorities Home Zenith Financial institution Account, Careers Particular Companies and Dwelling Affairs Expenditure Directorate of Recruitment and Quota System Zenith Financial institution Account and Zamfara State Accountant Common Zenith Financial institution Account.

Investigations reveal that in the course of the interval below assessment from Might 2019 to August 2020, the full worth of the suspicious transactions reviews (STRs) filed on the eight (8) accounts is Eight billion, 300 and 45 million, eight hundred and forty thousand, 600 Naira (N8, 345, 840, 600).

The overall worth of the Forex Transaction Reviews (CTRS) filed on the eight accounts within the reviewed interval is Ninety-nine billion, 4 hundred and 13 million, 200 and ninety 4 thousand, 100 and thirty three Naira six kobo N99, 413, 294,133.06).

Deposit Forex Transaction Reviews (CTRs) accounted for 59%, amounting to Fifty eight billion, 600 and 45 million, 600 and fifty thousand, 9 hundred and seventy seven Naira six Kobo (N58, 645, 650, 977.06).

Zamfara State Authorities VAT Zenith Checking account quantity 101xxxx255 obtained the very best deposit whereas Accountant Common 1%, Academic Levy Zenith Checking account obtained the least deposit for the reported transactions.

The Workplace of The Government Governor’s UBA account quantity 101xxxx657 additionally obtained funds from the State fertilizer gross sales account and Extra Bond ISPO accounts.

The evaluation revealed that the three accounts operated by the Workplace of the State Governor which is UBA account quantity 101xxxx657, Zenith Checking account quantity 101xxxx841, and Warranty Belief Checking account quantity 021xxxx676 obtained a complete deposit of 9 billion, 5 hundred and seventy 5 million, 9 hundred and forty 9 thousand, 600 Naira (N9, 575, 949, 600) of the filed Forex Transaction Reviews (CTRs).


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About 99% of the withdrawals from the workplace of The Government Governor accounts have been by cash. This account witnessed essentially the most cash transaction; therefore it’s the most susceptible to cash laundering and terrorist financing.

Throughout the interval below assessment, the State VAT account and CAREERS, SPEC SER & HOME AFF EXP AC witnessed transactions in favour of Gusau Cellular Welfare Entry Checking account quantity 078xxxx218 and D S S Oscar United Financial institution For Africa Plc Account quantity 100xxxx717. The accounts are extremely doubtless linked to the Federal Authorities safety equipment.

Zamfara State ISPO Extra Bond Account Quantity 503xxxx649 transferred funds to Zamfara State Government Governor’s account. Zamfara State Authorities issued a Bond for infrastructural improvement although there is no such thing as a withdrawal from the Workplace of the Government Governor account for infrastructural improvement functions.

The ISPO Bond account transferred funds to a number of different accounts, together with an account linked to Zamfara State Authorities. The character of enterprise of some beneficiaries didn’t point out that they invested within the bond difficulty or are concerned within the infrastructural improvement of Zamfara State.

The funds from Zamfara State native authorities have been diverted into Careers Particular Companies and Dwelling Affairs Expenditure Directorate of Recruitment and Quota System Zenith Financial institution Account Quantity 101xxxx564.

There is a sign of blending up of funds the place funds from Zamfara State inner income, fertilizer gross sales and different accounts have been paid into the VAT account.

A stress group, Zamfara Various Discussion board acknowledged that Zamfara State residents and stakeholders have been fearful as a result of suspicious nature of funds motion from one authorities account to the opposite. The discussion board stated in a press release by its Chairman, Tanimu Salihu Mafara:

“It’s extremely doubtless that there’s a deliberate try to disguise the true beneficiary of funds. This methodology of working authorities accounts and disbursing authorities funds doesn’t promote accountability.

“Additionally, as a result of excessive degree of cash transactions noticed within the Zamfara State Government Governor’s Account, one is inclined to consider that the accounts are automobiles used for laundering funds for Zamfara State authorities officers.

“These data are clear that the proceeds from the Zamfara State Bond difficulty are being misappropriated. It is usually doubtless that company automobiles, together with tour corporations are getting used to launder funds for corrupt authorities officers.

“Moreover, the diversion of funds from native authorities operated accounts right into a State Authorities account is a deliberate try to bypass the Monetary Enforcement Businesses’ effort to scale back Crime Vulnerabilities Created by Cash Withdrawal from Native Authorities Funds all through Nigeria,” the Discussion board acknowledged.


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