Kano anti-corruption agency arrests ex-KASCO MD, son for ‘diverting’ N4bn

The Kano State Public Complaints and Anti-Corruption Commission (PCACC) says it has arrested Bala Muhammad Inuwa, for fraudulently diverting over N4 billion belonging to the government.

Inuwa is a former managing director of Kano state Agricultural Company (KASCO).

In a statement on Thursday signed by Kabir Kabir, its chairman, the commission said the suspect is the founder of the Association of Compassionate Friends, a non-governmental organisation.

The PCACC said while the association was registered with the Corporate Affairs Commission (CAC), its objective did not include conducting any kind of commercial business.

The statement said Inuwa was also the sole signatory of a business account belonging to Limestone Processing Link which was used primarily for the diversion of the fund.

“Inuwa was arrested after he broke into sealed warehouses that were confiscated under section 40 of the Kano State Public Complaints and Anti-Corruption Law 2008 as amended, an action which is also sanctioned by the order of the court,” the statement reads.

“The seizure was in connection with the alleged criminal misappropriation, diversion, and making a false statement or return of over N4 billion Kano state government funds remitted to the Kano Agricultural Supply Company (KASCO) as a grant.”

The commission said it also apprehended Bala Inuwa Muhammed (Jr), the suspect’s son, who along with his father diverted N3,275,685,742 through the bank accounts of the NGO.

“Also, the sum of N480 million was diverted through the bank account of a business name Limestone Processing Link which is being managed by the founder of the Association of Compassionate Friends out of which N400 million was allocated as a fixed deposit and some amounts were transferred to bank account bearing the name of Bala Mohammed Inuwa,” the statement added.

“The suspects will soon be charged to court.”