Jigawa State government has been asked to investigate the Jigawa Savings and Loans Limited (JSL) activities.
According to the group, the state government and the Central Bank of Nigeria (CBN) need to investigate the activities of the managing director (MD), Babandi Isa Gumel.
When contacted on the phone on the allegations levelled against him, the MD cut the call and didn’t respond to subsequent calls.
But a statement made available to newsmen by the Noble Youth Mass Support Association (NYMSA) in Kano yesterday and signed by its Jigawa State director of public affairs, Comrade Sa’ad Babaganida, the group made reference to a case that involved the MD that was taken before the Chief Magistrate Court by the Jigawa State Public Complaint and Anti-Corruption Commission (JPCACC).
It explained that following a report by a whistleblower in November 2024, JPCACC opened an investigation on the matter, and the MD was charged with financial offences that include selling plots of land without due process, withdrawing monies from the JSL account for services not done, and not remitting taxes to the Jigawa State Board of Internal Revenue.
It further added that some banks have internal policies regarding employee conduct during investigations, which stipulate that a managing director under investigation for fraud should step aside during a trial.
“We want to use this medium to call on regulatory bodies like the Central Bank of Nigeria (CBN, Federal Mortgage Bank, (FMB) and Nigerian Deposit Insurance Corporation (NDIC), who also have the power to intervene and enforce actions against any bank officer facing corruption charges, depending on the severity of the allegations and the impact on the bank’s operations.
“On the larger scale, if you look at the likelihood of the outcome of the trial, if convicted, the MD would likely lose his position and benefits.
That’s why we believe it’s imperative for the state government to direct the Board of Directors to act accordingly and do the needful by suspending the MD pending the upcoming actions.
“The MD was released on bail but surprisingly, he resumed office, which is against the tenets of civil service, that is where an officer is subjected to investigation of criminal trial especially in case of financial crimes, he shall be suspended pending the conclusion of the investigation or trial.
“On his resumption of office, he proceeded on further suspicious acts. This enabled him to engage in dubious activities, including reckless spending and withdrawal of various sums of money, in a suspected move to settle the criminal case the way he wants it.
“Among these reckless spending is that he purchased a motor vehicle for the Chairman of the Board at the cost of N57,000,000 from Carloha Nigeria Ltd, and the sum was from the account of JSL Ltd to an Access Bank account with the account name Carloha Nigeria Ltd and account number 1402036587. This is seen as a gesture to silence the Board of Directors from taking proper action against him.
“It is important to note that where the head of a government agency is subjected to investigation or trial, especially for financial crimes, he shall be suspended to enable a smooth investigation and trial. But Mr Babandi still holds his position and is taking dangerous actions that may affect the governance of Jigawa State as a whole,” the group warned.
The group finally called on the state government to act in the matter by suspending the MD and taking the necessary legal actions.
Meanwhile, when the MD was contacted on the phone to respond to the allegations, he cut the call and didn’t respond to subsequent calls.
Also, despite the reporter’s efforts, the chairman of the JSL Board of Directors could not be reached.
