The Kano anti-corruption commission says it has commenced investigation into how N4billion government funds “disappeared” from the Kano Agricultural Supply Company (KASCO).
Muhyi Rimingado, chairman of the commission, announced the development when he led an investigation tour to warehouses where alleged cars, heavy duty trucks and tractors believed to have been bought with the siphoned funds, were kept in Kumbotso LGA of the state.
Rimingado said the funds were mischievously transferred from KASCO to an association registered with the Corporate Affairs Commission (CAC), named Association of Compassionate Friends.
He explained that the money was also siphoned using a registered limestone company.
“The association was meant to promote and take care of the living standard of the children of the less privileged people in the society, but unfortunately it has been turned into a machine stealing public funds,” NAN quoted Rimingado as saying.
“We have arrested eight suspects who are revealing credible information to the commission.
“One of them said he was given certain amount to make false submission at KASCO, but kept the money aside waiting for a moment like this and he has voluntarily returned the money.
“So far, we have recovered the sum of N15 million and have succeeded in blocking about N8 million.”
Rimingado further said some bank managers may be invited by the commission to clear some issues.
Source : The Cable