EFCC to quiz Jaiz Bank CEO, Hassan Usman, others over AGF’s alleged N109bn fraud | MyLatestGist.com
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EFCC to quiz Jaiz Bank CEO, Hassan Usman, others over AGF’s alleged N109bn fraud

EFCC to Jaiz Bank CEO, Hassan Usman, others over AGF’s alleged N109bn fraud

Hassan Usman, the managing director of Jaiz Bank and other officials of the Islamic bank may soon be invited for questioning by the Economic and Financial Crimes Commission, EFCC, over their alleged roles in the N109 billion allegedly stolen by Ahmed Idris, the disgraced Accountant General of the Federation, sources in the commission said.

Idris, who is currently being prosecuted by the EFCC alongside two other accomplices, Godfrey Olusegun Akindele and Mohammed Kudu had stolen the huge funds by compromising the Treasury Single Account (TSA), Government Integrated Financial Management Information System (GIFMIS), Integrated Payroll and Personnel Information System (IPPIS) and carted away billions of naira belonging to the government, the anti-graft agency said during his arraignment in last week……Continue Reading

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The trio was last week arraigned before Justice A. O. Adeyemi Ajayi of the Federal Capital Territory High Court, FCT, Maitama, Abuja.

The EFCC had upon investigations, discovered that the Accountant General opened bank accounts with the Islamic Bank, and used the same to perfect his money laundering schemes.

Even though the magazine cannot ascertain the extent to which some officials of the bank were involved in the fraud, investigations revealed that the bank was used to launder a large sum of money to government officials at the federal and state levels.

The Source Magazine learnt that the commission is now trying to unravel the possible underhand deals the AGoF had with some officials of the Islamic bank that ‘allowed him to use the bank to launder public funds. The bank has serious questions to answer” an EFCC source said.

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“The Accountant General and his accomplices must have chosen Jaiz bank, in order not to draw any suspicion from the public and banking regulators. But it’s now obvious that there’s no hidden place for the bank and greedy government officials who committed the fraud. The EFCC will get to the bottom of the fraud and those involved” another EFCC official said on Tuesday.

“There is a need to question more officials of the bank apart from the chief executive who must be privy to how and when huge sums of money were moved without deeming it fit to alert constituted authority in the country and EFCC. There’s no way huge sums will be moved without the MD’s knowledge, and we are quite sure these officials are not unaware of the money laundering law,” the official said.

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A huge part of the stolen funds, the EFCC said were used by Idris to set up businesses and acquire properties in Kano where he hails from, and Abuja, amongst others.

Such properties include the Gezawa Exchange Limited, Gezawa Integrated Farms, and Kano City Mall, amongst others.

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