NIRSAL MD, Aliyu Abdulhameed in Alleged 5 Billion Naira Fraud …….1Billion Naira Traced to Head of Finance’ Personal Account ……..3 Heads of Department Currently in Police Custody …….Powerful Nigerians Pressurising Police to Halt Investigations

December 19 18:00 2019

The project was a failed wheat farm and processing project in Jigawa State that was singlehandedly handled by one of the aides to the MD of NIRSAL. The project was alleged to be to the tune of N5 billion naira with no farm nor processing equipment to support such huge amount.

NIRSAL gave its Credit Risk Guarantee worth 75% on the loan obtained from Keystone Bank while also collateralising the loan with its deposit in the bank for a third party transaction totally against Best practice.

Aliyu used many phoney companies that were barely three months in existence to perpetrate this.

Many of such frauds have been happening in the financial institution since Aliyu took over its management.

Meanwhile,there is also an ongoing investigation into another N4.3 billion naira of inflated personnel cost especially on the NIRSAL’s field offices located in each state of the federation and the FCT.

The field offices staff numbering about 500 have always been paid less than 50% of their monthly pay while the remaining 50% amounting to over N200 million naira is being siphoned on a monthly basis.

Recall also that the same MD was very recently fingered in the acquisition of two bullet proof SUVs for himself without due process, especially under an administration that strongly fights against corruption, impunity and financial recklessness.
However about three other heads of department members are being investigated which are:
-Idris Aweda (Head of Finance)
-Tosin Ariyo (Technical Assistant to the MD on Projects)
-Michael Adeoye (Head of Credit Risk Guarantee).

By Criminal investigative department of Nigeria police force at area 10 Garki

According to the police officer in charge of the case,he said ‘ Other officers indicted will also be invited by the security agencies for questioning’ .

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