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Isa Yuguda: N3.8billion Found In Dead Commissioner’s Bank Account, N2.5billion In Special Assistant’s Account

Source: ukpakareports.com

Governor Isa Yuguda presently finds his administration on the verge of unraveling amidst an overbearing litany of blind corruption and fermented greed via the hands of top officials of the Yuguda administration. Documentary evidence reveals the level of money laundering activities at the government house as grand scale.

What strikes as marveling is the sum of N3.8billion found in the bank account belonging to the commissioner of housing and environment in the person of Lele Raja who died recently of a heart attack at his home. Another marvel is the sum of N2.5billion discovered in the bank account belonging to the special assistant to the governor on projects. Of which, aggrieved officials within the government tell our correspondent that the monies found in the private bank accounts Governor Yuguda's aides belong to the governor. Their claim is that the aides are holding the siphoned monies in care for the governor.

Cursory inspection into the Bauchi State financial transactions confirms the allegations as levied by the aggrieved officials within the Bauchi State governing circle. The illegal operation of the State Bank accounts by the Yuguda boys may have been the source of the said monies.

Particular attention is given to three accounts managed by the State - the one operated as the main government's account with account number 230430000642501, the one belonging to the State's Sub-treasury with account number 213430000532701, and another belonging to the office of the Secretary to the State Government [SSG] with account number 213430000677001.

Interestingly, the three accounts are domiciled in FIN Bank where Governor Isa Yuguda was formerly, the Managing Director. And the balance sheet for the three accounts for the period covering September 2008 to February 2009 reveals a jolting level of unprecedented corruption and financial crimes. The bank account statement for the State's main account showed that within the three months of November 2008 to January 2009, FIN bank disbursed loans totaling N39.18billion in seven separate applications and disbursements – as tabulated in Table 1 below. This is in addition to a miscellaneous deposit of N500million on December 15, 2008 under the caption “AMT CREDITED FROM A/C CAP DEV PROJ” and sixteen major deposits made into the account amounting to N2.667billion – each under the caption “BY INSTRUMENT … CLEARING DAY”.

Table 1: Loan disbursements to Yuguda administration

Date
Loan amount

November 1, 2008
N277million

November 14, 2008
N9.047billion

January 14, 2009
N9.529billion

January 19, 2009
N9.629billion

January 21, 2009
N9.902billion

January 30, 2009
N795million

Total
N39.18billion

To the informed in Bauchi State, the loan transactions suggest that the Bank and Isa Yuguda were collaborating in the looting of the State. It is recalled that Governor Yuguda who was the MD of Inland Bank before it morphed to FIN bank, unilaterally ordered the transfer of the State's main account from Guaranteed Trust Bank to FIN bank, a day following his swearing-in as the governor of Bauchi State. His finance commissioner and secretary to the state government were immediately sourced from the bank.

However the graver financial crime may have been committed in the manner the Yuguda boys made huge and questionable withdrawals from the three accounts of the government. According to the account balance sheets, the Yuguda boys used Mohammed Yakubu, Abubakar Adamu, Yusuf Abdu and Adamu Yame as couriers to make the colossal withdrawals.

From the balance sheets which are in the possession of ukpakareports.com, the Yuguda administration made withdrawals totaling N9.1billion in cash within a span of six months. What strikes as puzzling is the frequency of the withdrawals. Below in Table 2 is a tabulation of some of the “cash” withdrawals from the sub-treasury account and the SSG account. It shows that the Yuguda boys made staggering cash withdrawals from the sub-treasury account. On February 12, 2009, they made three cash withdrawals totaling N921.2million [N921,166,200], on September 4, 2008, they made six cash withdrawals totaling N149,475,683, on September 5, 2008, they made ten cash withdrawals totaling N159,577,827. They also made cash withdrawals from the SSG accounts. They made three cash withdrawals totaling N88,483,365.

Table 2: Highlight of Daily Cash withdrawals

Sub-treasury account

February 12, 2009


N82,833,100

N828,333,100

N10,000,000

Total
N921, 166,200

September 4, 2008


N50,265,000

N958,000

N64,604,133

N32,160,000

N532,800

N955,750

Total
N149,475,683

September 5, 2008


N26,675,000

N1,090,000

N93,000,000

N207,400

N497,655

N32,000,000

N800,000

N100,000

N3,547,516

N1,660,256

Total
N159,577,827


SSG account

September 25, 2008
N33,998,365


N27,485,000


N27,000,000

Total
N88,483,365


As a result of Isa Yuguda and his boy's excesses, Bauchi State main accounts are currently in the red. The State has long gone bankrupt. The Economic and Financial Crimes Commission [EFCC] were made aware of the rot in Bauchi State government on March 16, 2009 via a petition submitted to the EFCC. But the EFCC till date remain sedated to the financial crimes in Bauchi State.

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