The Kano State Public Complaints and Anti-Corruption Commission has initiated an investigation into the alleged disappearance of over N4 billion government funds from the Kano Agricultural Supply Company (KASCO).
The Chairman of the commission, Mr Muhyi Rimingado, confirmed this when he lead an investigation tour to the warehouses where alleged cars, heavy duty tractors and tractors believed to have been bought by the siphoned funds were been kept in Kumbotso Local Government Area of the state.
Rimingado said the funds were mischievously transferred from KASCO to an association registered with the Corporate Affairs Commission, named Association of Compassionate Friends.
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“The Association was meant to promote and take care of the living standard of the children of the less privileged people in the society, but unfortunately it has been turned into a machine stealing public funds,” he noted.
The chairman explained that the funds were being drawn from the Kano state government as a grant to KASCO, but was siphoned using the registered corporate association and a business name company of limestone.
“We have arrested eight suspects who are revealing credible information to the commission.
“One of them said he was given certain amount to make false submission at KASCO, but kept the money aside waiting for a moment like this and he has voluntarily returned the money.
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“So far, we’ve recovered the sum of N15 million and have succeeded in blocking about N8 million,” he disclosed.
Rimingado said the commission was suspicious of how some transactions were being made between the companies and some banks, stressing that some bank managers may be invited to clear some issues.