How Labour Party Caretaker Chair Nenadi Usman Forfeited N140 Million, Two Houses Amid Past Corruption Probe

Senator Nenadi Usman, former Minister of Finance and newly appointed Caretaker Chair of the Labour Party, previously returned N140 million and forfeited two properties to the federal government in connection to a high-profile corruption investigation under the Buhari administration. The case, which has continued in various courts, involved allegations of financial misconduct and fraud during her time in public office.

Usman, who served as Minister of Finance and later represented Kaduna South in the Senate from 2011 to 2015, was appointed as the Chair of the Labour Party’s 29-member Caretaker Committee during a stakeholders’ meeting in Umuahia, Abia State, on Wednesday. The committee’s primary task is to resolve the party’s leadership crisis and organize a convention within 90 days to elect new leaders at both the national and ward levels.

However, Usman’s return to the political stage comes amid ongoing legal proceedings tied to her past. In 2016, she was charged with 17 counts of fraud and money laundering by the Economic and Financial Crimes Commission (EFCC), in connection with N4.9 billion allegedly embezzled during her tenure. She was charged alongside former Minister of Aviation, Femi Fani-Kayode, and two others.

The EFCC’s investigation revealed that Usman had received N2.5 billion from the Office of the National Security Adviser in the lead-up to the 2015 presidential elections, where she served as Director of Finance for the Peoples Democratic Party (PDP) Presidential Campaign Organization. As part of the investigation, she returned N140 million, which was deposited into her Zenith Bank account in January 2015, and forfeited two of her properties to the government in order to secure her release from EFCC custody.

Despite pleading not guilty to the charges, the case continues to wind its way through the court system, with Usman and her co-defendants still facing prosecution. Her role as Chair of the Labour Party’s Caretaker Committee, however, marks a significant return to the political spotlight, even as her past financial dealings remain under scrutiny.