The Economic and Financial Crimes
Commission (EFCC) is reportedly probing Senate President Bukola Saraki over the
use of N17 billion bond secured by the Kwara state government.
Abdulfatah Ahmed, governor of
Kwara, is also being investigated.
According to The Nation, the EFCC
suspects that the bonds raised in 2009 when Saraki was governor of the state
may have been misappropriated by both administrations.
The fund is said to have been
budgeted for 13 projects and loan refinancing package under the governments of
Saraki and Ahmed.
Some of the said projects include
N2billion Asa Dam mixed use development project, Ilorin water distribution
project which was allocated N2 billion but has reportedly gulped N3.7 billion,
Shonga irrigation project worth N2.9 billion and the International Aviation
College which was allocated N1.5 billion “but N2.4 billion was spent on the
construction and purchase of equipment”.
The newspaper quoted an EFCC
fact-sheet on the investigation thus: “We are investigating a petition
forwarded by the Code of Conduct Bureau, Abuja. It was alleged that the Senate
President, Dr. Bukola Saraki, Governor Abdulfatah Ahmed and the incumbent
Accountant-General of Kwara State allegedly conspired and misappropriated
N17billion raised through bond in 2009.
“Letters of invitation were sent
to the Secretary to the state government, the accountant-general of the state
as well as permanent secretaries for ministries that handled the projects.”
On load financing, the fact-sheet
read: “The prospectus of the bond stated that Kwara state had indebtedness of
N4, 980,000 in external loans out of which N3.3billion amounted to legacy
obligations preceding the then administration.
“They proposed utilizing N2,
400,000,000 from the bond proceeds of the bond to service part of the
legacy obligations which were (a)
African Development Bank(AFDB)- construction of four specialist hospitals in
Jebba, Offa, Oke-Ode and Sobi at a cost of N1,440, 828, 000; (b) AFDB-equipment
procurements to the four specialist hospitals; ( C) World Bank Essential Drug
Projects.
“The total debt was N3, 301, 162,
42 only. Documents obtained from the accountant-general of the state did not
show any indication that monies were paid to AFDB or the World Bank instead
another list with heading ‘OTHER PAYMENT’ showed the names of government
agencies and private companies being paid a total of N974, 896,343.47.”
‘WILD GOOSE CHASE’
The newspaper quoted a state
government source privy to the probe as denying any misuse of the bond.
“The EFCC is on a wild goose
chase because the bond has been fully repaid since 2014 without any outstanding
liability for the people of Kwara state,” the source was quoted as saying.
“We suspect sheer politics and a
plot to intimidate Saraki and Ahmed because 2019 polls are around the corner.”
Saraki and Ahmed are currently
under probe over their alleged links with suspects arrested in connection to
the Offa robbery incident.
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