How Gov Yari Allegedly Diverted N500m, $.5m From Fellow Governors

The Economic and Financial Crimes Commission (EFCC) has revealed what may have been a betrayal of trust within Nigerian governors. Commission has alleged that the chairman of the Nigerian Governors Forum (NGF) who is also the governor of Zamfara state, Abdulaziz Yari, may have used his position among the governors to pilfer N500million and $500,000 from the account of the group. According to the anti-graft body, the money was meant to be part of the Paris Club refunds made by the Federal Government to the 36 states. The commission has also obtained an interim forfeiture order of the sums which were recovered from two firms, First Generation Mortgage Bank Limited, and Gosh Projects Limited. Justice Nnamdi Dimgba, of a Federal High Court in Abuja was said to have given the interim forfeiture order of the monies which the commission claims it has linked to Yari. The application which was jointly filed on June 19, 2017 by the Federal Government of Nigeria (the first applicant) and the EFCC (the second applicant) was said to have been granted on June 30, 2017. The commission in an affidavit filed in support of its ex parte application for the interim forfeiture of the monies, alleged that the N500m was diverted by Yari from the account of the NGF to offset a personal loan obtained from the First Generation Mortgage Bank Limited. It also alleged that Gosh Projects Limited, received a major part of the funds which were reportedly used to buy building materials for a 100-room hotel project in Lagos, said to belong to the Zamfara governor. The company was also said to have used part of the looted funds for the purchase of treasury bills, while it also transferred some of it to offshore accounts. In his ruling, Justice Dimgba also ordered that any person(s) or body with interest in the funds must, within 14 days of the publication of the interim order of forfeiture in any national daily, show reason why an order of final forfeiture to the Federal Government of the funds should not be made.

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