The state ministry of finance has been requested by the Kaduna house of assembly to furnish specifics regarding the loans that the former governor, Nasir el-Rufai, took out.

The assembly’s proposal comes after an ongoing investigation into the state’s finances during El-Rufai’s tenure as governor. El-Rufai served as Kaduna’s governor from 2015 until 2023.

A committee was formed by the Kaduna assembly on Tuesday to look into the state’s finances under el-Rufai’s leadership.

The 13-member committee was tasked to investigate loans, grants and project implementation from 2015 to 2023, the period in which el-Rufai served as governor.

In a letter dated April 22, signed by Sakinatu Idris, clerk of the house, and addressed to the commissioner of finance, the assembly requested information regarding payments and outstanding liabilities to contractors under el-Rufai.

“Accordingly, I am directed to request you to forward to the ad-hoc committee memorandum to be accompanied with the under-listed documents and all other documents you consider relevant to the assignment of the committee,” the letter reads.

“(i) (a) Total loans from May 2015 to May 2023 with the approvals of the Kaduna State House of Assembly, the accounts into which the loans were lodged and drawdowns as recorded by Project Finance Managemet Unit (PFMU) & Debt Management Office (DMO).

“(b) Relevant state executive council minutes of meetings, council’s extracts and resolutions with regards to the loans.

“(c) Payments and outstanding liabilities to contractors from May 2015 – May 2023. (d) Reports of Salaries paid to staff from 2016-2022. (e) Dloyd Reports on KADRIS from 2015 to 2023.

“(ii) Terms, purpose and conditions on those loans. (iii) Appropriation items related to the loans.

(iv) All records of payments made to all contractors engaged by the state government and relevant documents from May 2015 to May 2023 including bank statements.

(v) Modalities for payments of contracts.

(vi) Documents of all payments made to the contractors. (vii) Sales of government houses/properties and accounts the proceeds were lodged and how the money was expended.

“Thirty (30) copies of the memo/documents should reach the office of the clerk to the legislature on or before Thursday, 25th April, 2024 by 10:00 am.”

On March 30, Uba Sani, governor of Kaduna, said his administration inherited a debt of $587 million, N85 billion, and 115 contractual liabilities from the el-Rufai administration.

The Economic and Financial Crimes Commission (EFCC) has submitted a notice of withdrawal in an attempt to end its appeal against a Kogi high court judgement prohibiting the organisation from detaining the state’s former governor, Yahaya Bello.

The EFCC stated in the notice dated April 22 that the withdrawal is based on the fact that the appeal has been superseded by events.

The appeal was lodged after the legally permitted period, the commission also acknowledged.

“The appellant herein intends to and do hereby wholly withdraw her appeal against the respondent in the above-mentioned appeal,” the notice reads.

“This notice of withdrawal is predicated on the fact that on the 17th of April 2024, the application filed by the appellant herein was overtaken by the decision of the same high court of Kogi state.

“The orders made ex parte by Jamil on the 9th of February 2024 in said suit which is the subject of this appeal, was made to last pending the hearing and determination of the originating motion on notice which was finally determined by Jamil on the 17th April 2024.

“Furthermore, the notice of appeal was filed out of time and we, therefore, pray that the appeal be struck out for being filed out of time and incompetent.”

Recall that Yahaya Bello, on February 8, instituted a fundamental rights enforcement suit, asking the court to declare that “the incessant harassment, threats of arrest and detention, negative press releases, malicious prosecution” of the EFCC, “without any formal invitation, is politically motivated and interference with his right to liberty, freedom of movement, and fair hearing”.

The former governor also sought an order “restraining the respondent by themselves, their agents, servants or privies from continuing to harass, threaten to arrest or detain him”.

On February 9, the Kogi high court granted an interim injunction restraining the EFCC from “continuing to harass, threaten to arrest, detain, prosecute Bello, his former appointees, and his staff or family members, pending the hearing and determination of the substantive originating motion for the enforcement of his fundamental rights”.

On March 12, the EFCC filed an appeal against the interim injunction because the court could not stop the commission from carrying out its statutory responsibility.

The Kogi high court delivered judgment on the substantive motion on notice on April 17 wherein Isa Jamil Abdullahi, the presiding judge, granted an order restraining the EFCC “from continuing to harass, threaten to arrest or detain Bello”.

However, Abdullahi directed the commission to file a charge against Bello before an appropriate court if it had reasons to do so.

The judgment coincided with the recent “siege” laid on the Abuja residence of  Bello by EFCC operatives seeking to arrest him.

The commission had also obtained a warrant of arrest against the former governor from the federal high court in Abuja.

The EFCC is seeking to arraign Bello on 19 counts bordering on alleged money laundering, breach of trust and misappropriation of funds to the tune of N80.2 billion.

At the scheduled arraignment on April 18, Bello was absent.

At the court session, Abdulwahab Mohammed, counsel to Bello, told  Emeka Nwite, the presiding judge, that the court lacked jurisdiction to grant the warrant of arrest in the first instance.

He referenced the February 9 interim injunction issued by the Kogi high court, adding that the appeal filed by the EFCC is still pending.

The naira, on Wednesday, depreciated to N1,300 per dollar at the parallel section of the foreign exchange (FX) market.

The N1,260 transacted on April 22 represents a 3.17 percent decrease in the current FX rate.

Bureau de change (BDC) operators, who deal in currency, stated a buying rate of N1,260 and a selling price of N1,300, with an N40 profit margin.

The naira dropped 0.64 percent to N1,308.52 against the dollar at the official window, from N1,300.15 on April 23.

The main FX trading platform in Nigeria, FMDQ Exchange, reports that the naira touched a high of N1,367 and a low of N1,098.

With the current record, the official window rate still surpasses that of the parallel market by N8.52.

The Central Bank of Nigeria (CBN), on April 23, reduced the FX rate for dollar allocations to BDC operators.

The financial regulator, in a circular signed by Hassan Mahmud, director of trade and exchange department, said it sold $10,000 at the rate of N1,021/$ to each BDC.

On April 8, CBN also sold FX to the BDCs at the rate of N1,101/$, compared to the N1,251 the apex bank offered to the parallel market operators on March 25 and the N1,301 announced on February 27.