Group Asks EFCC to Probe N37.4bn Zamfara Promissory Notes

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Tobi Soniyi
The Patriots for the Advancement of Peace and Social Development (PAPSD) has asked the new Chairman of the Economic and Financial Crimes Commission (EFCC) to investigate alleged diversion of N37.4 billion promissory notes by the administration of Abdulazeez Yari in Zamfara.
During his Senate screening, Bawa had vowed to bring to book all corrupt officials.

In the petition to EFCC Chairman, Abdulrashid Bawa, the group said in spite of several petitions and the conclusion of investigations by the Sokoto office of the commission the former chairman of the commission Ibrahim Magu had refused to prosecute those who allegedly diverted the funds.

The petition was signed by PAPSD’s Executive Director, Dr Sani Shinkafi,

Shinkafi said: “I hereby forward a petition to the commission for a thorough investigation and possible prosecution of the case of the fraudulent and criminal diversion of the N37,400,263,781 being the promissory notes which were issued by the federal government through the Debt Management Office ((DMO).

“The said N37,400,263,781 is a refund of the federal rehabilitated roads in Zamfara state which was issued on December 28, 2018 with face value N14,960,105,512:93 with a maturity date: December 28, 2020 and April 1. 2019 with a face value of promissory note of N22,440,158,269:00 promissory note with Reference No: FGN /PN/2019/SG/21 with maturity date of 1st April 2022.”

According to him, the promissory notes were however discounted to the United Bank for Africa (UBA) by Yari ahead of the maturity dates without the approval of the State Executive Council or the resolution of the Zamfara State House of Assembly.

He said that the Zamfara State government lost billions of naira after the promissory notes were acquired at an undisclosed discounted rate.
“In his desperate bid to cash out the N37.400,263,781 that has not matured he terminated the deal by signing up undisclosed discounted rate percentage per annum. We call for the investigation and possible prosecution of the following people for their active roles in misappropriation of the promissory notes belonging to the good people of Zamfara State.

“A former governor of Zamfara State, Alhaji Abdulaziz Yari; an erstwhile former Commissioner of Finance, Alhaji Murktar Idris and former Director of Finance Nigeria Governors Forum (NGF), Adamu Mohammed Ahmed, former Accountant General Zamfara State, Abubakar Bello R/Doruwa former Permanent Secretary Ministry of Finance Zamfara State.

“Others are Mrs. Patience Oniha, Director General Debt Management Office (DMO), Mr Asiahana Okauru, Director General Nigeria Governors Forum, Mrs Chinwe Juliet, the Branch Manager United Bank for Africa (UBA) Gusau.”

Shinkafi asked the EFCC to determine the following questions: why the hurry to cash out the money before the maturity dates?

“Why should the DG and Staff of the Nigerian Governors Forum collect the Promissory Notes on behalf of the Zamfara State government for not being staff of the state government?”

He urged EFCC to give the people mentioned fair hearing by inviting them for interrogation to determine their culpability or otherwise.