A former Kaduna State Commissioner of Finance and Native Authorities, Mohammed Bashir Sa’idu has been arrested over allegations of cash laundering, legal breach of belief, and misappropriation of public funds.
In accordance with a safety supply, the police acquired a petition accusing Sa’idu of laundering N3.96 billion and misappropriating N244 million throughout his tenure within the Mallam Nasir elRufai-led administration between 2015 and 2023.
The allegations embrace the sale of $45 million in state-owned overseas forex at an undervalued change price of N410 per greenback, as a substitute of the parallel market price of N498 per greenback, inflicting a lack of over N3.96 billion to the federal government.
Police sources additionally disclosed that this transaction breached Part 18 of the Cash Laundering (Prevention and Prohibition) Act, 2022.
Moreover, Sa’idu is accused of failing to account for proceeds from the sale of presidency homes in Marafa Property, Kaduna, amounting to roughly N244 million.
This, the safety supply mentioned constitutes a breach of belief beneath Part 300 of the Penal Code of Kaduna State, 2017.
Experiences point out that the Kaduna State Home of Meeting beforehand investigated Sa’idu’s {financial} dealings and forwarded its findings to anti-corruption businesses, together with the {Economic} and {Financial} Crimes Fee (EFCC) and the Impartial Corrupt Practices and Different Associated Offences Fee (ICPC). As a part of the investigation, Sa’idu’s worldwide passport has been seized.
Critics have tried to attribute the arrest as politically motivated, claiming it was orchestrated via Operation Fushin Kada, a unit established to fight banditry.
Nonetheless, the Kaduna State Police Command dismissed these claims, emphasising that Sa’idu’s arrest adopted credible allegations of economic crimes.
Sa’idu, who served in numerous capacities in Kaduna State, together with as Chief of Employees and Commissioner of Finance, stays in detention as investigations proceed.
Authorities have assured the general public that due course of can be adopted in bringing the suspect to justice.
