Abuja - The Kano State Anti Corruption and
Public Complaints Commission said it had uncovered fraudulent diversion of N207
million of depositors’ money from the
state's 37 microfinance banks.
Three people, including the consultant that handled the establishment and running of
the banks, Rabiu Tudunwada, Managing Director of the banks, Rabiu Garba, and
Director of Recruitment, Hajara Umar, have been quizzed.
Chairman of the commission, Muhyi Rimingado, said
investigation revealed that the consultants received a total sum of N74 million
as accrued interest from the share capital of N20 million in each of the 37
He alleged the chief consultant directed the banks’
managing directors to pay the money to his personal account.
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Rimingado added that the sum of N50 million was found to
have been debited from the accounts of the banks.
He also said the chief consultant was found to have
fraudulently directed all the managing directors of the banks to transfer
another N2 million each into his company account.
Rimingado added that there was a likelihood more fraud
might be uncovered as investigations into the matter were still in progress. -
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- CAJ News