Former Kaduna State Governor, Nasir El-Rufai, has spent a second night in the custody of the Economic and Financial Crimes Commission following the rejection of his administrative bail request over an alleged N432bn fraud.
It was gathered on Tuesday that the anti-graft agency is preparing to arraign the former governor on allegations bordering on misappropriation of public funds and money laundering during his tenure between 2015 and 2023.
A source within the commission, who spoke on condition of anonymity because he was not authorised to comment publicly, disclosed that El-Rufai may remain in custody pending his arraignment.
According to the source, the investigation is linked to allegations that funds totalling over N432bn were mismanaged through questionable loans, contract awards allegedly carried out without due process, and other financial transactions that reportedly increased the state’s debt burden.
The probe is also said to be connected to the report of the Kaduna State House of Assembly’s ad hoc committee set up in 2024 to review loans, contracts and other financial dealings under El-Rufai’s administration.
While presenting the committee’s findings during plenary, the Chairman of the panel, Henry Zacharia, had alleged that several loans obtained by the administration were not utilised for the purposes for which they were secured.
The Speaker of the House, Yusuf Leman, also accused the former administration of siphoning about N423bn, leaving the state with heavy liabilities and a rising debt profile.
The committee recommended the prosecution of the former governor and some former members of his cabinet for alleged abuse of office, diversion of public funds, money laundering, and reckless borrowing.
Among the issues raised in the report were disputed cash payments and contracts said to be worth over N155m, the alleged diversion of N1.37bn meant for a light rail project, and the reported laundering of N64.8m by senior officials.
The lawmakers had urged the EFCC and the Independent Corrupt Practices and Other Related Offences Commission to investigate the matter and ensure the recovery of any misappropriated funds.
Efforts to get a reaction from El-Rufai’s media aides were unsuccessful as of the time of filing this report.
