El-Rufai’s Commissioner Arrested Over Alleged Misappropriation, Money Laundering

The Nigeria Police Force has confirmed the arrest and ongoing investigation of Mohammed Bashir Sa’idu, a former Kaduna State commissioner of finance and local governments, over allegations of money laundering, criminal breach of trust, and misappropriation of public funds.

According to a security source, the police received a petition, and Sa’idu was accused of laundering N3.96 billion and misappropriating N244 million during his tenure in the Kaduna State government between 2015 and 2023.

The allegations include the sale of $45 million in state-owned foreign currency at an undervalued exchange rate of N410 per dollar instead of the parallel market rate of N498 per dollar, causing a loss of over N3.96 billion to the government.

Police sources say this transaction breaches Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022. Additionally, Sa’idu is accused of failing to account for approximately N244 million in proceeds from the sale of government houses in Marafa Estate, Kaduna. This constitutes a breach of trust under Section 300 of the Penal Code of Kaduna State, 2017.

Reports indicate that the Kaduna State House of Assembly previously investigated Sa’idu’s financial dealings and forwarded its findings to anti-corruption agencies, including the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

As part of the investigation, Sa’idu’s international passport has been seized.
Although critics have attempted to frame the arrest as politically motivated, claiming it was orchestrated through Operation Fushin Kada, a unit established to combat banditry. However, the police have dismissed these claims, emphasizing that the arrest is based on credible allegations of financial crimes.

Sa’idu, who served in various capacities in Kaduna State, including as chief of staff and commissioner of finance, remains in detention as investigations continue. Authorities have assured the public that due process will be followed in bringing the accused to justice.

The allegations underscore the government’s commitment to holding public officers accountable for financial misconduct and ensuring transparency in the management of public resources.