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Court grants ex-KADCO MD bail over N4bn ‘fraud’
A Kano State High Court has granted an administrative bail to the former Managing Director, Kano Agricultural Supply Company limited (KASCO), Bala Muhammad Inuwa who was arrested over alleged diversion of N4bn belonging to the company.
Recall that Inuwa was arrested last week by the Kano State Public Complaints and Anti-Corruption Commission (PCACC) for allegedly breaking into a warehouse confiscated in the ongoing investigation into the alleged N4billion fraud during his reign as the MD of KASCO.
However, during a court sitting on Tuesday, Justice Usman Na’abba admitted the suspect to bail on self recognition on the grounds that he had been kept in custody of PCACC beyond the time permissible by the law.
The court also admitted Inuwa som, Inuwa Muhammad (Jnr), to bail in the sum of N10million and a surety in like sum.
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Earlier, Inuwa’s counsel, Professor Nasiru Aliyu (SAN) told the court that it was improper for the Court to hear and entertain the charge filed by the PCACC on the ground that there was a court ruling that prevented PCACC from arresting or charging his client to court.
The PCACC had filed 10-count charge against Inuwa for allegedly diverting over N4 billion grant into private accounts. He is being sued alongside four others, including his son.
The co-defendants are Inuwa Mohammed (Jr), Halima Inuwa, Najib Muhammad and Incorporated Trustees of the Association of Compassionate Friends.
The charges against the defendants border on criminal breach of trust, criminal misappropriation and making false statements of return contrary to the penal code and PCACC laws of Kano State.
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