BREAKING: Buhari’s In-Law Arrested
The Independent Corrupt Practices and other related offences Commission (ICPC) has arraigned former President Muhammadu Buhari’s in-law, Gimba Ya’u, who is former Chief Executive Officer of the Federal Mortgage Bank of Nigeria (FMBN), for allegedly diverting $65 million.
The money was said to have been allocated for the construction of 962 residential units at the Goodluck Jonathan Legacy City in Kubwa, Abuja.
The arraignment of Ya’u is alongside Bola Ogunsola, a former FMBN director, and Tarry Rufus, managing director of T-Brend Fortunes Nigeria Limited. They were arraigned before Justice James Omotosho of the Federal High Court in Abuja on Tuesday.
The ICPC has filed a five-count charge marked FHC/ABJ/CR/333/24 against the defendants, accusing them of violating the Public Enterprises Regulatory Commission Act and the Money Laundering (Prevention and Prohibition) Act, 2022.
According to the allegation, it was alleged that Ya’u authorised the payment of N3.78billion to Good Earth Power Nigeria Limited, a contractor without the capacity to execute the project, leading to its incomplete status.
The project was said to have remained unfinished.
This has caused significant financial loss to the bank and violating Section 68 (1) of the Public Enterprise Regulatory Commission Act.
The ICPC also alleged that the defendants mismanaged a N14 billion loan secured from Ecobank Nigeria PLC in 2012 for the project.
The trial has been adjourned to February 6, 2025.
It would be recalled that in 2016, former President Muhammadu Buhari formally married off his daughter, Fatima, to Yau Gimba Kumo in Daura, his home town.
The News Agency of Nigeria reports that the wedding took place at the president’s residence on Mai’adua road, Daura.
The groom, who was a former Managing Director of Mortgage Bank, paid N100,000 as the bride price.
The marriage was contracted in accordance with Islamic injunctions and was attended by top federal and state government officials.
