TROUBLE!!! Saraki May Go To Jail, Lands In Multi-Billion Naira Groundbreaking Scandal

By Post-Nigeria: June 29, 2019 09:57

TROUBLE!!! Saraki May Go To Jail, Lands In Multi-Billion Naira Groundbreaking Scandal

The Economic and Financial Crimes Commission, EFCC, has claimed that former Senate President, Bukola Saraki, withdrew N12 billion in cash, from the treasury of the Kwara State Government, while he was Governor of the State, between 2003 and 2011.
The money was then allegedly used by Saraki to offset a N1.36 billion bank loan, which he used in purchasing homes located at 15, 15A, 17, 17A and four flats on Macdonald Road, Ikoyi, Lagos, hence the decision of the Commission to seize the properties.
The anti-corruption Agency, therefore asked Justice Taiwo Taiwo of the Federal High Court, Abuja, to rescind the exparte order preventing the Commission from investigating and prosecuting Saraki.
The EFCC said this in a counter-affidavit to Saraki’s originating motion, with suit number FHC/ABJ/CS/507/2019.
However, in a counter-affidavit deposed to by Ojilibo Stanley, on behalf of the EFCC, the Agency said that they have established a case of money laundering, criminal breach of trust and conspiracy, by the immediate past Senate President.
The EFCC noted that Saraki had through his companies, between 2005 and 2006, taken loans worth N1.36 billion, from Guaranty Trust Bank and Intercontinental Bank (now Access Bank).
The Commission said that in a bid to offset the loan, the ex-Governor began to divert N100 million from the coffers of the State, monthly.
The affidavit stated that on February 28, 2005, the Presidential Implementation Committee on the sale of Federal Government Landed Properties, wrote a letter conveying to Saraki the approval of the then-Minister of Lands and Housing, for the sale of properties at 15 and 17 Macdonald Road, Ikoyi.

The EFCC, said that sequel to the letter Saraki wrote, dated March 8, 2005, to Guaranty Trust Bank, requesting a N200 million loan to finance the acquisition of the properties, on March 24, 2005, the GTB approved the loan to partly finance the purchase of the properties.
The anti-graft Agency, disclosed that on October 11, 2006, another personal loan of N380 million was granted to Saraki by GTB, to partly finance the acquisition of properties located at 17 and 17A Macdonald Road, Ikoyi.
The Commission further claimed that on January 30, 2007, a personal loan of N380 million, was again granted to the former Governor, to partly finance the same properties.
It said on April 28, 2009, that another personal loan of N400 million, was obtained by Saraki to develop the same properties.
The affidavit stated: “The personal loans used to acquire the properties were later liquidated with the proceeds of the Applicant’s (Saraki) criminal breach of trust, or misappropriation of funds of the Kwara State Government.
“The Applicant (Saraki) procured one Abdul Adama, who was his personal member of staff, to receive cash from then Controller of Finance and Account of Government House, Kwara State, Mr. Isiaka Kareem, on a monthly basis, the sum of N100 million.
“While the Applicant was the Governor of Kwara State, the total sum of N12 billion was withdrawn in cash from the Kwara State Government House’s account, domiciled in Zenith Bank.”

The EFCC denied being controlled by the All Progressives Congress, APC, adding that, the fresh investigation of Saraki is different from the ones related to the one conducted by the Code of Conduct Bureau, CCB.
Recall, that Saraki had stated in an affidavit which he deposed to in support of the originating motion, that the Acting EFCC Chairman, Ibrahim Magu, was on a revenge mission, because of the role he (Saraki) played in blocking his confirmation as EFCC Chairman.
He said: “Apart from the instigation by my political adversaries, my close contacts have confirmed to me that the 4th Respondent (EFCC), renewed its harassment, as a way of punishing me for the decision of the Senate, not to clear the Acting Chairman of the EFCC, Ibrahim Magu, to be appointed as the substantive Chairman of the Commission.”
Saraki said that the EFCC was also pained, because he was in charge of the Senate, when the Legislative arm of government ensured the creation of the Nigerian Financial Intelligence Unit, to Magu’s annoyance.
He had also alleged that he was being hounded by the anti-graft body, because he emerged as the President of the Senate, against the wishes of certain elements in the APC, in 2015.

Saraki stated that the aggrieved elements in the APC, were using the EFCC Agency to harass him.
He argued that the allegations levelled against him were not new, as he had been charged before the CCT, and emerged victorious.
He noted that he was already a successful businessman, before becoming Governor, in 2003, and therefore, asked the court to rule that his probe was a breach of his fundamental human rights.
The case has been adjourned till July 2, 2019.