A former Kaduna State Commissioner of Finance and Local Government, Mohammed Bashir Sa’idu, has been arrested over allegations of money laundering, criminal breach of trust, and misappropriation of public funds.
The Nigeria Police Force confirmed his arrest and an ongoing investigation into the matter.
According to a security source, a petition filed against Sa’idu accuses him 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 undervalued sale of $45 million in state-owned foreign currency at an exchange rate of N410 per dollar, instead of the parallel market rate of N498 per dollar. This discrepancy reportedly caused a loss of over N3.96 billion to the state.
Police sources stated that this transaction violates Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022. Sa’idu is also accused of failing to account for N244 million generated from the sale of government-owned houses in Marafa Estate, Kaduna. This alleged act of mismanagement breaches Section 300 of the Penal Code of Kaduna State, 2017.
The Kaduna State House of Assembly had previously investigated Sa’idu’s financial dealings and forwarded its findings to anti-corruption agencies, including the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission. As part of the ongoing investigation, Sa’idu’s international passport has been confiscated.
Critics have suggested that the arrest may be politically motivated, claiming it was linked to Operation Fushin Kada, a special unit established to combat banditry. However, the police have refuted these claims, stressing that the charges are based on credible allegations of financial crimes.
Sa’idu, who has held multiple positions in Kaduna State, including Chief of Staff and Commissioner of Finance, remains in detention as authorities pursue their investigation. Police officials have assured the public that due process will be followed to ensure justice is served.
The allegations against Sa’idu highlight the government’s commitment to holding public officials accountable for financial misconduct and promoting transparency in the management of public funds. Authorities reiterated their resolve to pursue all cases of corruption to safeguard public resources.
