Umaru Tafidan Argungu, a former Nigerian senator has been arraigned for N419m alleged fraud in Sokoto.
The 61-year-old was arraigned on Monday, March 1, before Justice Mohammed Mohammed of the Sokoto State High Court on one count charge of criminal misappropriation of public funds to the tune of N419, 744, 612. 30 (Four Hundred and Nineteen Million, Seven Hundred and Forty-Four Thousand, Six Hundred and Twelve Naira, Thirty Kobo).
The former Senator who represented Kebbi North in the 6th Senate under the People’s Democratic Party (PDP), is alleged to have diverted the said sum which was paid by the Sokoto State government as 40percent equity stake in Hijrah Investment Nigeria Limited, owners of Hijrah Textile Ltd.
According to the Economic and Financial Crimes Commission, EFCC, the Sokoto state government had entered into an agreement with the former Senator to buy a 40% stake in his company Hijrah Investment Nigeria Limited in order to create jobs and boost the economy of the state.
However, investigations revealed several withdrawals and transfers from the said account to individuals not remotely connected to the objectives of turning around the company, the EFCC said in a statement.
A visit to the company promises by EFCC investigators showed a company in a severe state of abandonment and dilapidation.
He pleaded ‘not guilty’ to the charge.
Based on his plea, the prosecution counsel, S.H. Sa’ad asked the Court for a date to commence trial while defence counsel, Ibrahim Abdullahi move a verbal motion for
the bail of his client.
Justice Mohammed granted the defendant bail in the sum of N50 million (Fifty Million Naira) and two sureties in like sum. The sureties must reside and have property within the jurisdiction of the Court.
The judge further ruled that the defendant’s international passport be deposited with the Court.
The case has been adjourned till March 18, 2021, for commencement of trial.
