Following The Comments Newspaper’s report on the forfeiture of former Kaduna State Governor, Nasir El-Rufai’s property which has now been traced to Sterling Bank—anti-corruption agencies have intensified their investigation into alleged financial mismanagement during his administration. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) are now focusing on funds in Sterling Bank, allegedly tied to the controversial Kaduna light rail project.
Sources within the ICPC revealed that large sums of money were discovered in accounts linked to the project, raising concerns about potential misappropriation. “We have frozen accounts containing substantial amounts meant for the light rail project. Our investigation points to financial irregularities, and we are committed to ensuring accountability,” a senior ICPC official disclosed.
The light rail project was a flagship initiative under El-Rufai’s administration, intended to improve transportation in Kaduna. However, its funding and execution have come under scrutiny, with allegations that a significant portion of the allocated funds was diverted. Investigators believe that key officials in El-Rufai’s government may have played a role in the alleged financial mismanagement.
El-Rufai, however, has dismissed the allegations, describing the ICPC’s actions as politically motivated. “This is nothing but oppression and abuse of power,” he stated. “The funds in Sterling Bank were meant for crucial infrastructure projects. By seizing them, they are only damaging Kaduna’s future and discouraging foreign investment.”
A former commissioner in El-Rufai’s administration echoed this sentiment, insisting that due process was followed. “This is a politically driven attack. Every financial transaction under El-Rufai’s leadership was transparent. The ICPC’s actions are unfair and harmful to development in Kaduna,” the commissioner said.
Despite these denials, anti-corruption officials maintain that the evidence against the former administration is mounting. “We have reason to believe that a network of officials was involved in questionable financial activities. This investigation is far from over,” an EFCC investigator confirmed.
The legal battle is now heating up, with the case adjourned until April 8.
