Sule Lamido’s Sons Arrested Over Alleged N10b Fraud

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.
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.
http://premiumtimesng.com/news/149632-
breaking-efcc-arrests-sule-lamidos-sons-
over-alleged-n10billion-fraud.html

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