El-Rufai’s ex-CoS Bashir arrested over alleged misappropriation, money laundering

El-Rufai’s ex-CoS Bashir arrested over alleged misappropriation, money laundering

Mohammed Bashir Sa’idu, a former Kaduna State Commissioner
of Finance and Local Government, has been arrested over allegations of money
laundering, criminal breach of trust, and misappropriation of public funds.

 

The Nigeria Police Force has confirmed the arrest and
ongoing investigation of the former state government official.

 

According to a security source, a petition received by the
police, Sa’idu is accused of laundering N3.96 billion and misappropriating N244
million during his tenure in the Kaduna State government between 2015 and 2023.
The allegations include the sale of $45 million in state-owned foreign currency
at an undervalued exchange rate of N410 per dollar, instead of the parallel
market rate of N498 per dollar, causing a loss of over N3.96 billion to the
government.

 

Police sources say this transaction breaches Section 18 of
the Money Laundering (Prevention and Prohibition) Act, 2022. Additionally,
Sa’idu is accused of failing to account for proceeds from the sale of
government houses in Marafa Estate, Kaduna, amounting to approximately N244
million. This constitutes a breach of trust under Section 300 of the Penal Code
of Kaduna State, 2017.

 

Reports indicate that the Kaduna State House of Assembly
previously investigated Sa’idu’s financial dealings and forwarded its findings
to anti-corruption agencies, including the Economic and Financial Crimes
Commission (EFCC) and the Independent Corrupt Practices and Other Related
Offences Commission (ICPC). As part of the investigation, Sa’idu’s
international passport has been seized.

 

Critics have attempted to frame the arrest as politically
motivated, claiming it was orchestrated through Operation Fushin Kada, a unit
established to combat banditry. However, the police have dismissed these
claims, emphasizing that the arrest is based on credible allegations of
financial crimes.

 

Sa’idu, who served in various capacities in Kaduna State,
including as Chief of Staff and Commissioner of Finance, remains in detention
as investigations continue. Authorities have assured the public that due
process will be followed in bringing the accused to justice.

 

The allegations underscored the government’s commitment to
holding public officers accountable for financial misconduct and ensuring
transparency in the management of public resources.

Source: El-Rufai’s ex-CoS Bashir arrested over alleged misappropriation, money laundering

 - NigerianEye
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