Crime
“Saraki withdrew N12bn from Kwara to buy properties”
Former Senate President Bukola Saraki withdrew N12bn in cash from the treasury of the Kwara State Government while he was governor of the state between 2003 and 2011.
The EFCC made this claim Thursday in a counter affidavit to Saraki’s originating motion with suit number FHC/ABJ/CS/507/2019.
Saraki allegedly withdrew the cash to offset a N1.36bn bank loan he used in purchasing homes located at 15, 15A, 17, 17A and four flats on Macdonald Road, Ikoyi, Lagos.
The EFCC has seized the properties.
He, in his own deposition, stated that acting EFCC Chairman, Ibrahim Magu, was on a revenge mission because of the role he (Saraki) played in blocking his confirmation as EFCC chairman, in creating the Nigerian Financial Intelligence Unit to Magu’s annoyance, and in emerging Senate president against the wishes of certain elements in the APC in 2015.
According to hi, the allegations levelled against him were not new as he had been charged before the CCT and emerged victorious.
But the commission, through its own deposition by Stanley Ojibon, Thursday asked Justice Taiwo Taiwo of the Federal High Court, Abuja, to rescind the ex parte order preventing the commission from investigating and prosecuting Saraki.
The agency said it already established a case of money laundering, criminal breach of trust and conspiracy by the immediate past Senate President.
Saraki, it claimed, had through his companies between 2005 and 2006 taken loans worth N1.36bn from the Guaranty Trust Bank and Intercontinental Bank (now Access Bank).
To offset the loan, the ex-governor began to divert N100m 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 then-Minister of Lands and Housing for the sale of properties at 15 and 17 Macdonald Road, Ikoyi.
Following the letter Saraki wrote dated March 8, 2005 to Guaranty Trust Bank requesting a N200m loan to finance the acquisition of the properties on March 24, 2005, GTB approved the loan to partly finance the purchase of the properties.
On October 11, 2006, another personal loan of N380m was granted to Saraki by GTB to partly finance the acquisition of properties located at 17 and 17A Macdonald Road, Ikoyi.
Others followed on January 30, 2007, a personal loan of N380m was again granted to the former governor to partly finance the same properties; April 28, 2009, another personal loan of N400m was obtained by Saraki to develop the same properties.
The agency added that the personal loans used to acquire the properties were later liquidated with the proceeds of the applicant’s (Saraki’s) criminal breach of trust or misappropriation of funds of the Kwara State Government,” the EFCC stated in the deposition.
“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 N100m.”
The agency insisted while Saraki was the governor of Kwara State, the total sum of N12bn was withdrawn in cash from the Kwara State Government House’s account domiciled in Zenith Bank.
Justice Taiwo adjourned the case till July 2, 2019.