EFCC arrests Governor Sule Lamido’s sons over alleged N10billion fraud

Aminu Sule Lamido

The Economic and Financial Crimes Commission has arrested two sons of Jigawa state governor, Sule Lamido, over an alleged N10billion fraud.

Aminu and Mustapha  Lamido were arrested Thursday in Kano and flown to Abuja on Friday morning, and are currently being interrogated at the EFCC headquarters in Abuja by a crack team of detectives.

The arrest of the governor’s sons, insiders say, is in furtherance of the investigation that commenced in December 2012 when Aminu Sule Lamido was arrested at the Mallam Aminu Kano Airport en route Cairo, Egypt for failure to declare the $50,000 he had on him.

Although Aminu has since been prosecuted and convicted by a Federal High Court in Kano, investigation as to how he came by the money has led investigations to uncover a web of money laundering in which billions of naira from Jigawa state government accounts are funnelled into the accounts of companies run by the Jigawa state governor and his two sons.

Over N10billion is said to have been transferred from Jigawa state government accounts into the accounts in which Sule Lamido and his two sons have interest from 2007 till date.

The Commission is said to have traced these transfers to 10 companies where Lamido and sons are directors and signatories to the account.

The companies include Bamaina Alluminium Limited, Bamaina Holdings Limited, Bamaina Company Nigeria Limited, Rawda Integrated Services Limited, Speeds International Limited and Saby Integrated Nigeria Limited.

The account of these companies received huge cash inflow between 2007 and 2013, a period that coincide with the tenure of Sule Lamido as governor of Jigawa state. For instance in Bamaina Aluminium where Sule Lamido and his two sons are directors, investigations revealed that the company’s account controlled by Mustapha as signatory received total credit of N1.52billion between January 2010 and August 2013. It recorded a total debit of the same amount, with Mustapha and other companies in which Lamido and his sons are directors, being the beneficiaries.

In the same vein, Bamaina Holdings Limited’s account with the governor as sole signatory received a total of N1.19billion between February 2007 and July 2013.

About N1billion was paid from this account into accounts of companies controlled by the governor and his sons.

Advertisement

nlng Campaign AD

Massive lodgements were also discovered in the account of Bamaina Company Nigeria limited controlled by Mustapha as sole signatory from Bamaina Alluminium. Between January 2010 and July 2013, the account received over N500million.

From the account of Rawda Integrated Services Limited controlled by Mustapha, there have also been massive movement of funds to another company run by Sule Lamido, Speeds International Limited. Speeds’ account recorded a turnover ofN2.2billion between January 2007 and February 2010.

In the account of Rawda with a new generation bank investigators discovered the movement of N2.6billion to an unknown signatory.

That account recorded over one hundred withdrawals running to over N600milion in cash between November 2007 and April 2008.

Saby Integrated Services Nigeria Limited, another company owned by Lamido received over N730million from several Jigawa State government agencies between June 2010 and August 2010.

 

Advertisement

PT Mag Campaign AD

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required

DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: This space is available for a Text_Ad.. Call Willie on +2347088095401 for more information


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.