The Independent Corrupt Practices and Other Related Offences Commission, ICPC has yesterday arraigned Bashir Sa’idu, former Chief of Staff, CoS, to Kaduna State Governor, Nasir El-Rufai, administration over alleged forex racketeering and money laundering. Sa’idu, who also doubled as Commissioner for Finance during the El-Rufai administration in Kaduna state was slammed with second charge by the anti-graft agency.
Earlier, he was arraigned before the Federal High Court in Kaduna on two counts bordering on N155m fraud.
In the fresh 10 counts charges presented before the Kaduna State High yesterday, the anti graft accused Sa’idu of selling $45m in government funds at an undervalued rate of N410 per dollar instead of the parallel market rate of N498 per dollar during his tenure of office.
The singular transaction that ICPC, alleged caused a N3.96bn loss to the Kaduna State Government, which the prosecution claims was laundered in violation of Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.
During his trial proceedings yesterday before Justice Isa Aliyu, Sa’idu pleaded not guilty to all charges.
Defence counsel, M.I. Abubakar, sought the court’s approval for bail, highlighting that the defendant had been in custody for 21 days since his arrest on January 2, 2025.
However, the prosecution, represented by Prof. Nasiru Aliyu, opposed the bail application, citing the statutory seven-day period for filing a response to such requests.
Shortly after a 40-minute recess, Justice Aliyu ruled in favour of the prosecution’s request for adequate time before he could respond and therefore adjourned the bail hearing to January 23rd, 2025.
Sa’idu is the fourth appointee under the El-Rufai government that has been brought to scrutiny through court process by the ICPC.
Others whom, the anti-graft agency announced their scheduled arraignment from El-Rufai’s government include; his ex-Senior Special Adviser/Counsellor, Lawal Adebisi, the former Accountant General of Kaduna State, Umar Waziri, and the former Finance Commissioner, Yusuf Inuwa.
The ICPC said they were charged with money laundering, involving N64m.
The ICPC spokesman, Demola Bakare, said, “In the suit filed at the Federal High Court, Kaduna Judicial Division, the ICPC is accusing Mr Lawal of conniving with the two other accused persons to divert the total sum N64,800,562 in three tranches of N10,000,000,00, N47,840,000.00 and N7,320,562.00 to the bank account of Solar Life Nigeria limited where Mr Lawal is believed to the sole signatory.
The Kaduna State House of Assembly had last year indicted the El-Rufai’s administration of theft to the tune of N423bn, a claim the former governor strongly denied.