EFCC Seizes Ex-Adamawa Governor's N500m Mansion - Leystradamus.Com.Ng

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Sunday, June 12, 2016

EFCC Seizes Ex-Adamawa Governor's N500m Mansion

How did a man who just stayed in office as acting governor for few months acquire such mansion?
The EFCC has seized a terrace house belonging to a former acting Governor of Adamawa, Umaru Fintiri. The house is located on No. 7, Gana Street in the expensive Maitama district of Abuja.

The property is said to be worth over N500m.
The house had painted at its entrance the inscription, ‘EFCC, under investigation’.

Mr. Fintiri was arrested by the anti-graft agency 10 days ago following a petition by former members of his cabinet that he embezzled N1.9bn during the three months he acted as governor.

The suspect, who was Speaker of the Adamawa State House of Assembly, became acting governor after the impeachment of the substantive governor, Murtala Nyako, and his deputy, Bala Ngilari, in 2014.

He acted as the state governor from July 15, 2014 to October 8, 2014.

A source at the EFCC told Punch that Fintiri allegedly diverted the fund that was meant for the construction of the Faculty of Law at the Adamawa State University.

He said, “Before his impeachment, Nyako left a balance of N1,957,045,82 in the state government’s project account with the Yola branch of Zenith Bank, with account number 1011325467. Out of the money, N497m was meant for the construction of a law faculty at the university, which was to be sited at the former Teachers’ College, Yola.

“However, when Fintiri took over as acting governor, he transferred the proposed faculty from Yola to the Mubi campus of the ADSU and later laid the foundation; but after that, the project never took off.

“Investigations revealed that on Fintiri’s orders, part of the N1.9bn was released to the Ministry of Works and a contract was awarded to a construction company - Mayim Construction Limited - for the construction of roads in Mararaba Garta and Kamale in the Michika area of the state. 
"The company, we believe, is owned by Fintiri, which is illegal. The roads in question have not been constructed.”

The source said Fintiri also purchased Highland Tea, a tea manufacturing company located on the Mambilla Plateau and jointly owned by Adamawa and Taraba states. The tea company owed N600m to the Bank of Agriculture, which Fintiri paid promptly and became its sole owner.

The source alleged that Fintiri, through his company, bought the assets of a firm, S M Nguroje Nigeria Limited, through the Bank of Agriculture for N650m.

The property is a tea plantation and processing plant located in Taraba State.

“We believe that part of the N1.9bn was used in buying the tea plantation,” the source added.

The EFCC is also investigating a loan of N5bn taken by Fintiri as acting governor. It was alleged that the suspect took the loan without following due process.

Fintiri would soon be charged to court by the EFCC to answer how he spent public money.

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