Ex-Gov Aliyu In Trouble As EFCC Detains Him Over N2bn Ecological Fund, N3.6bn Power Shares Cash - eritvnews

Ex-Gov Aliyu In Trouble As EFCC Detains Him Over N2bn Ecological Fund, N3.6bn Power Shares Cash

Biafrans Doesn't Like Money Anymore But Hausa/Fulani Does. 
Igbos who are Biafrans are believed to be the only people who loves money in Nigeria just because they work hard. But people are beginning to ask questions, whether those works hard to make money loves it or those who steals money made for development.

ABUJA—The Economic and Financial Crimes Commission, EFCC, has detained former Niger State governor, Babangida Aliyu, over N3.6 billion realised from sale of the state’s 16 of the 26 per cent stake in North-South Power Ltd and N2 billion ecological fund got from the Presidency in 2015.

The anti-graft agency believes that the cash from the two sources was laundered by the former governor and used for prosecution of the 2015 governorship election to enthrone one of its own protégés. Vanguard sources at the EFCC confirmed that the ‘Chief Servant’, as he is fondly addressed, was detained since Tuesday at the headquarters of the EFCC around 10 a.m as he honoured an invitation by the anti-graft agency.

One of the top sources said Aliyu had been answering series of questions from a crack team of detectives since his arrival at the EFCC compound and was not about to be released as at press time. The former governor is being quizzed on issues relating to abuse of office and money laundering and is likely to be arraigned if the outcome of the investigation indicts him.

Specifically, Aliyu is alleged to have diverted the N2 billion Ecological Funds for political purposes. He is also alleged to have fraudulently sold the state’s stake in North South Power, the holding company for Kainji Dam.

According to the commission, he sold 16 out of the state’s 26 percent shares in the company    for N3.6billion.

The agency said that out of this, N1.09 billion was paid to Government House  Minna, and used for the 2015 elections, where Aliyu’s protégé, Nasko ran unsuccessfully as governor. A source close to the investigations revealed that EFCC was keen on unravelling how the funds especially the Ecological funds were spent.

It said three companies, which reportedly benefitted from the cash through contract awards are being scrutinised to determine the level of their involvement in the alleged scam.

The firms are: I D Sabon, M J Eco and Secta Plus. I D Sabin,  a company suspected to be owned by the former Secretary to the Government, Saidu Nddako Idris, allegedly got a contract for which it was paid N847 million. Of this sum N800 million was allegedly given to the former Chief of Staff to Governor Aliyu, Umar Nasko, who in turn, handed the money to the former governor.

Also, M J Eco, owned by one Nuhsinuazali Jibril, a friend to Ibrihim Nasko, younger brother to    Umar Nasko, got N487 million for a contract which was not executed. The money reprtedly was paid to various Bureaux de Change,  converted into Dollars and handed to Nasko who also delivered the money to the former governor for undisclosed purpose. According to the EFCC, only Secta Plus however executed the contract it received from the      Niger State Government. “ We had to detain him as there are several issues that we are yet to cover even though he has made useful statement,” a top official of the agency confirmed last night.

Culled From Vanguard


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