Zamfara Governor accused of diverting loan funds, awarding phantom contracts
The Economic and Financial Crimes Commission (EFCC) has announced that Bello Matawalle, the outgoing Governor of Zamfara State, is currently under investigation for an alleged N70 billion fraud. The anti-corruption agency revealed that Governor Matawalle, a prominent figure in the All Progressives Congress (APC), is being probed for monumental corruption, phantom contract awards, and diversion of funds.
In a statement released on Thursday, the EFCC shed light on the matter, stating that the funds were obtained as a loan from an old generation bank, ostensibly for the execution of projects across various local government areas in the state. However, it is alleged that the governor, through proxies and contractors, diverted the funds, resulting in the misappropriation of over N70 billion.
The EFCC’s investigations have revealed that more than 100 companies received payments from the diverted funds, without any evidence of service rendered to the state. Several contractors have already been invited and interrogated by the Commission, leading to startling revelations. These contractors claimed that they were compelled by the governor to return the funds received from the state coffers to him, after converting them into United States Dollars through his aides.
The statement from the EFCC further disclosed that the contractors admitted to not having provided any services to Zamfara State. Instead, they were allegedly directed to convert the payments they received into United States Dollars and return the converted funds to the governor through specific commissioners, particularly those in charge of Finance and Local Government Affairs.
As part of its extensive investigation into the contracts awarded by the Matawalle administration, particularly for phantom projects in local government areas, the EFCC has successfully recovered N300 million from Fezel Nigeria Limited. These funds were traced back to the Zamfara Investment Company.
While state governors and their deputies in Nigeria enjoy immunity from criminal prosecution while in office, this immunity is the reason why the EFCC has not yet arrested Governor Matawalle. However, with his single-term tenure coming to an end on May 29, 2023, the governor will lose this immunity.
Bello Matawalle lost his re-election bid in the Zamfara governorship election held in March 2023. Despite his imminent departure from office, the EFCC intends to thoroughly investigate the alleged fraud and bring those responsible to justice, ensuring accountability for the misappropriated funds.
The EFCC’s ongoing investigation into the N70 billion fraud case involving the outgoing governor has sparked public outrage, with citizens and political observers eagerly awaiting the conclusion of the investigation and subsequent legal proceedings. As the transition to a new administration approaches, Zamfara State will be closely monitoring the developments surrounding this high-profile corruption scandal.