The Chairman of EFCC, Abdulrasheed Bawa has since confirmed that three serving state governors were being monitored over their suspected moves to launder stashed billions of naira through the payment of salaries to workers
Recently, operatives of the Economic and Financial Crimes Commission (EFCC) discovered billions of Naira in cash stashed in various houses of some serving state governors. Three governors, namely Mr Mohammed Bello Matawalle of Zamfara State, Mr Nyesom Wike (Rivers) and Mr Abdullahi Umar Ganduje (Kano) were fingered as the alleged culprits. The anti-graft agency said it was closely monitoring the suspicious cash stockpiles pointing out that intelligence reports at its disposal about their stashing of billions of Naira inside various houses located in the nation's capital and other cities appears incontrovertible.
The Chairman of EFCC, Abdulrasheed Bawa has since confirmed that three serving state governors were being monitored over their suspected moves to launder stashed billions of naira through the payment of salaries to workers. He also stated last week that the number of governors on the EFCC watch list has increased.
The desperate move by the governors to release such stashed funds may not be unconnected with the recent announcement by the Central Bank of Nigeria (CBN) of the Federal Government's decision to redesign the higher denominations of naira notes.
An independent investigation Zamfara Alternative Forum has exposed how the Zamfara State All Progressives Congress (APC) administration under Governor Bello Matawalle resorted to shady practice of withdrawing huge sums in cash from the state treasury.
It was further revealed how billions of cash were withdrawn from accounts linked to Zamfara State Government. The accounts are: Zamfara State Executive Governor's Office UBA account number 101xxxx657, Zamfara State VAT Zenith Bank Account number101xxxx255, Zamfara State FAAC UBA Account number 100xxxx140 and the Zamfara State ISPO Excess Bond Fidelity Bank account number 503xxxx649.
Other accounts include the Accountant Gen. (Inc.) Education Levy Zenith Bank Account number 101xxxx730, Permanent Secretary Government House Zenith Bank Account number 101xxxx551, Careers Special Services and Home Affairs Expenditure Directorate of Recruitment and Quota System Zenith Bank Account number 101xxxx564 and Zamfara State Accountant General Zenith Bank Account number 101xxxx572.
Between May 2019 and 13 August 2020, there were several cash and transfer transactions involving the accounts considered to have no socio-economic advantage to the state. The transactions were frequent fund transfers and subsequent cash withdrawals that disguised the true beneficiary of funds.
Our source confirmed that a Federal Government Agency has forwarded an enquiry to the Zamfara State Government to explain the reasons for the frequent cash transactions. It was stated that most of the withdrawals were for the State Government's administrative expenditures.
Details of some questionable transactions and withdrawals from the eight listed accounts were made available to us. However, for purposes of privacy under financial rules and regulations we will not be disclosing the full details such as the complete account numbers and the bank verification numbers (BVNs).
With regard to Zamfara State Executive Governor's Office UBA account number 101xxxx657, the signatories to the account as at the period of the suspicious transactions were Kabiru Balarabe whose recorded date of birth is 15 March, 1966 linked to phone number 0803xxx8306 and a Bank Verification Number (BVN) 222xxxxx440 and Bashir Salihu whose birth date is 21 January 1975 linked to phone number 0806xxx5828 and Bank Verification Number 223xxxxx372.
The two signatories to the Zamfara State FAAC UBA Account number 100xxxx140 are Abubakar Bello Ruwan Dorawa with 12 June 1960 birth date linked to phone number 0706xxx6412 and BVN 221xxxxx685 and Aliyu Aminu Abubakar born 4 March, 1966 with phone numbers 0806xxx3333 and BVN 221xxxxx919.
The Zamfara State VAT Zenith Bank Account number101xxxx255 equally has two signatories as follows - Abubakar Bello Ruwan Dorawa, with date of birth given as 12 June, linked to phone number 0706xxx6412 and BVN 221xxxxx685 together with Aliyu Aminu Abubakar with a date of birth given as 4 March 1966 and linked to phone number 0806xxx3333 and BVN 221xxxxx919.
As for the and the Zamfara State ISPO Excess Bond Fidelity Bank account number 503xxxx649, the account signatory is given as Maikano Yanruwa Mohammed with date of birth given as 30 November 1969, phone number 0803xxx1583 and linked to BVN 222xxxxx901.
Concerning the Accountant Gen. (Inc.) Education Levy Zenith Bank Account number 101xxxx730, the signatories include one Aliyu Aminu born 4 March 1966, linked to phone numbers 0806xxx3333 and 0803xxx5390 whose address is the Ministry of Finance Gusau and No 1 Aminu Aliyu Tudun Wada Talata Mafara, Gusau, Zamfara State. He is also identified by National Identification Number ZF171966690, a Driving license number GUS07579AA1 and BVN 222xxxxx515.
Similar details were also given for other accounts involved in the withdrawals namely, Permanent Secretary Government House Zenith Bank Account, Careers Special Services and Home Affairs Expenditure Directorate of Recruitment and Quota System Zenith Bank Account and Zamfara State Accountant General Zenith Bank Account.
Investigations reveal that during the period under review from May 2019 to August 2020, the total value of the suspicious transactions reports (STRs) filed on the eight (8) accounts is Eight billion, three hundred and forty five million, eight hundred and forty thousand, six hundred Naira (N8, 345, 840, 600).
The total value of the Currency Transaction Reports (CTRS) filed on the eight accounts in the reviewed period is Ninety-nine billion, four hundred and thirteen million, two hundred and ninety four thousand, one hundred and thirty three Naira six kobo N99, 413, 294,133.06).
Deposit Currency Transaction Reports (CTRs) accounted for 59%, amounting to Fifty eight billion, six hundred and forty five million, six hundred and fifty thousand, nine hundred and seventy seven Naira six Kobo (N58, 645, 650, 977.06).
Zamfara State Government VAT Zenith Bank account number 101xxxx255 received the highest deposit while Accountant General 1%, Educational Levy Zenith Bank account received the least deposit for the reported transactions.
The Office of The Executive Governor's UBA account number 101xxxx657 also received funds from the State fertilizer sales account and Excess Bond ISPO accounts.
The analysis revealed that the three accounts operated by the Office of the State Governor which is UBA account number 101xxxx657, Zenith Bank account number 101xxxx841, and Guaranty Trust Bank account number 021xxxx676 received a total deposit of nine billion, five hundred and seventy five million, nine hundred and forty nine thousand, six hundred Naira (N9, 575, 949, 600) of the filed Currency Transaction Reports (CTRs).
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About 99% of the withdrawals from the office of The Executive Governor accounts were by cash. This account witnessed the most cash transaction; hence it is the most vulnerable to money laundering and terrorist financing.
During the period under review, the State VAT account and CAREERS, SPEC SER & HOME AFF EXP AC witnessed transactions in favour of Gusau Mobile Welfare Access Bank account number 078xxxx218 and D S S Oscar United Bank For Africa Plc Account number 100xxxx717. The accounts are highly likely linked to the Federal Government security apparatus.
Zamfara State ISPO Excess Bond Account Number 503xxxx649 transferred funds to Zamfara State Executive Governor's account. Zamfara State Government issued a Bond for infrastructural development though there is no withdrawal from the Office of the Executive Governor account for infrastructural development purposes.
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The ISPO Bond account transferred funds to several other accounts, including an account linked to Zamfara State Government. The nature of business of some beneficiaries did not indicate that they invested in the bond issue or are involved in the infrastructural development of Zamfara State.
The funds from Zamfara State local government were diverted into Careers Special Services and Home Affairs Expenditure Directorate of Recruitment and Quota System Zenith Bank Account Number 101xxxx564.
There is an indication of mixing up of funds where funds from Zamfara State internal revenue, fertilizer sales and other accounts were paid into the VAT account.
A pressure group, Zamfara Alternative Forum stated that Zamfara State citizens and stakeholders were worried due to the suspicious nature of funds movement from one government account to the other. The forum said in a statement by its Chairman, Tanimu Salihu Mafara:
"It is highly likely that there is a deliberate attempt to disguise the true beneficiary of funds. This method of operating government accounts and disbursing government funds does not promote accountability.
"Also, due to the high level of cash transactions observed in the Zamfara State Executive Governor's Account, one is inclined to believe that the accounts are vehicles used for laundering funds for Zamfara State government officials.
"These records are clear that the proceeds from the Zamfara State Bond issue are being misappropriated. It is also likely that corporate vehicles, including tour companies are being used to launder funds for corrupt government officials.
"Furthermore, the diversion of funds from local government operated accounts into a State Government account is a deliberate attempt to circumvent the Financial Enforcement Agencies' effort to reduce Crime Vulnerabilities Created by Cash Withdrawal from Local Government Funds throughout Nigeria," the Forum stated.
