We used to think that the means by which public treasuries are looted in Nigeria is through over-invoicing, where contracts are
inflated well beyond tolerable limits of public accountability. This too is happening in Bauchi State, Nigeria at the rate of 600 – 1000%.
However, a new method is invented by Isa Yuguda, the Governor of Bauchi State. Though disingenuous in outlook, the new method gives quicker returns. Just collaborate with the bank where the accounts of the government are kept, connive with the bank manager to be disbursing credit into the account without any papers and require the bank to allow you withdraw cash, sometimes many times a day, of colossal amounts. Then block access to the account and the balance sheet and intimidate civil servants to swear that they will never reveal government secret. Then buy newspaper editors such that nothing is heard about it in public, no matter the strength of evidence. To cap it up, see connections in high places, including …..
Then decamp to the ruling party.
Through the above method, Bauchi State government was committed to the tune of N39.7billion between December 2008 and February 2009. In addition, more than N9billion cash was withdrawn from its accounts illegally in the last six months. Cash, according to the balance sheet of the state government’s account at Finbank, of millions of naira, sometimes in hundreds of millions, in an instance as much as N828million, was stolen in just a single transaction.
We got a copy of the balance sheet for the months of September 2008 to February 2009. We have analyzed it and presented it to the EFCC, ICPC,CBN, NDIC and Bauchi State House of Assembly. Our responsibility is to investigate and report it; theirs is to act appropriately and stop the theft; yours is to read… Pls download the two documents above: the letter addressed to the authorities and the Tables of raw data and analysis we made.
Then decide whether the most optimistic candidate for the post of Central Bank of Nigeria Governor after Soludo is really transparent and competent enough to be given that job. But please do not bring it to the notice of his in law, the President.
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