Alleged N27bn Fraud: Ex-Taraba Gov, Darius Ishaku Gets N150m Bail

A former Taraba State Governor, Darius Ishaku, was on Thursday, October 3, 2024, granted bail in the amount of N150 million by a High Court in the Federal Capital Territory (FCT) in connection with an alleged N27 billion fraud case initiated by the Federal Government.

The bail was approved by Justice Sylvanus Oriji, who stipulated that two sureties must be provided, each also valued at N150 million. One of these sureties is required to be a Federal Government employee at the Director level.

Additionally, both sureties must reside in the FCT, and their residential addresses will be subject to verification by the Court Registrar.

Justice Oriji also imposed a travel restriction on Ishaku and his co-defendant, Bello Hero, prohibiting them from leaving the country without prior court approval.

The Economic and Financial Crimes Commission (EFCC), represented by counsel Rotimi Jacobs, did not contest the bail application. Jacobs indicated that the EFCC had previously granted Ishaku administrative bail, which he adhered to.

Following the bail approval, Justice Oriji scheduled the trial to commence on November 4, 5, and 13 regarding the alleged fraud.
Ishaku, who concluded his tenure as governor in 2023 after an eight-year period, has been charged with 15 counts by the Economic and Financial Crimes Commission (EFCC). He entered a plea of not guilty during his arraignment on Monday.

The charge sheet, dated September 27, identifies Ishaku and the former Permanent Secretary of the Bureau for Local Government and Chieftaincy Affairs, Bello Yero, as the two defendants in this case.

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In the charge labeled CR/792/24, the EFCC alleges that the defendants misappropriated the sum of N1,010,000,000 for personal use between August 25, 2015, and March 21, 2016, in Abuja.

This amount is said to be part of the 2.5 percent contingency funds belonging to the Bureau for Local Government and Chieftaincy Affairs.

The EFCC has indicated that the actions of the two individuals contravene Section 315 of the Penal Code A, Cap 532, Laws of the Federal Capital Territory of Nigeria 2007, and are punishable under the same provision.

Additionally, Ishaku and Yero face accusations of misappropriating a total of N1,138,082,097.71, which also pertains to the 2.5 percent contingency fund of the Bureau for Local Government and Chieftaincy Affairs, during the period from July 2015 to May 2019.

Furthermore, between September 3, 2015, and January 29, 2018, in Abuja, the defendants are alleged to have diverted N761,301,000 to settle a loan of N1 billion that was extended by Zenith Bank Plc. to their company, Worthy Construction Limited.

“That you Ishaku whilst being the Governor of Taraba State and Bello Yero whilst being the Permanent Secretary, Bureau for Local Government and Chieftaincy Affairs, Taraba State between July 19, 2019 and February 5, 2021 in Abuja, within the jurisdiction of this Honourable Court, and in such capacity entrusted with dominion over certain property, to wit: an aggregate sum of N3,348,942,411.15, which sum formed part of the funds belonging to Bureau of Local Government and Chieftaincy Affairs, Taraba State and Local Government Councils in Taraba State, and you thereby committed criminal breach of trust in respect of the said property, when you dishonestly diverted the said sum to your own use,” the charge sheet partly read.

Other sums that allegedly formed part of the contingency fund diverted by the defendants include N650,686,369.99 between January 6, 2019, and April 29, 2021; N193,030,000 between January 2019 and April 29, 2021; and N170,549,842.00 between January 6, 2019, and April 29, 2021, among others.