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Thursday, 30 June 2016

Alleged Money Laundering

The EFCC arraigns former governor of Adamawa state, Umar Fintiri over alleged theft, breach of public trust and money laundering.
Fintiri, who is also a former speaker of the Adamawa state house of assembly pleaded not guilty to charges and was remanded in EFCC's custody.

According to the findings, when Fintiri became the acting governor, Adamawa State’s debts amounted to N8.7bliion but within four months, the profile rose to N13.85bliion.
Following the impeachment of Governor Murtala Nyako and his deputy, Bala Ngilari in July 2014, Fintiri became acting governor as the then Speaker of the Adamawa State House of Assembly.
Nyako allegedly left a balance of N1, 957, 045, 82 in the state government project account with a bank.
But Fintiri directed that N1.9 billion from the account be released to the state Ministry of Works on August 27, 2014.
It was the same funds that landed Fintiri in trouble.

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