N423 Billion Fraud Allegations: EFCC Probes Former Governor El-Rufai, Other Key Officials

The Economic and Financial Crimes Commission (EFCC) has launched an investigation into the alleged mismanagement of N423 billion by former Kaduna State Governor Nasir El-Rufai and several key members of his administration. This development follows a petition by a Non-Governmental Organization and a detailed report from the Kaduna State House of Assembly.

Sources indicate that El-Rufai, alongside former finance commissioners, accountants-general, and other top officials from his administration between 2015 and 2023, will be summoned for questioning. The investigation will also encompass the managing directors of the Kaduna Market Development and Management Company Ltd and the Kaduna Roads Agency (KADRA) during El-Rufai’s tenure.

The House of Assembly’s Ad-Hoc Committee has revealed significant financial discrepancies, including the alleged diversion of N423 billion and unauthorized withdrawals amounting to $1.4 million from the Kaduna State Economic Transformation Account. The committee’s findings include directives for eight individuals and companies to refund N19.2 billion and 15 contractors to return N36.4 billion for incomplete or overpaid projects.

The EFCC’s Special Task Force has begun reviewing these allegations, which suggest extensive corruption and financial mismanagement under El-Rufai’s administration. The investigation will also assess claims that numerous loans were obtained without due process and were not used for their intended purposes.

Further revelations from the committee’s report indicate that El-Rufai’s administration incurred significant debt, raising the state’s liabilities on domestic and foreign loans to nearly N99 billion and $758 million, respectively. These findings underscore the scale of the alleged financial mismanagement and the resulting economic impact on Kaduna State.

The EFCC has not yet provided an official statement regarding the ongoing investigation. However, the comprehensive nature of the House of Assembly’s report has laid a solid foundation for the probe, highlighting systemic issues within the previous administration and prompting calls for substantial financial restitution and accountability.