BREAKING: EFCC Arrests Former Senate President, Bukola Saraki
Bukola Saraki, the former president of the Nigerian Senate, is being taken in jail by the Economic and Financial Crimes Commission on charges of theft and money laundering.
Mr Saraki, the former governor of Kwara State, was held on Saturday, according to individuals acquainted with the issue, which could lead to another round of difficulty for the politician.
Between 2015 and 2019, Mr Saraki served as Senate President, during which time he was accused of corruption and falsified asset declarations. The Supreme Court acquitted him in June 2018.
However, we believe that in his new case with the EFCC, Mr Saraki would be questioned about suspected theft and laundering of public monies through a network of cronies and proxy firms.
The alleged proxies who purportedly carried out putative contracts for Kwara State under Mr Saraki allegedly made returns to the former governor for many years, building a well-organized network of corrupt money flow.
According to insiders, the cash involved totaled hundreds of millions of naira and hundreds of thousands of dollars at various occasions.
Investigators got a list of the proxy firms involved and examined a pattern of suspected transactions involving them and Mr Saraki.
One of them is said to have been in charge of subsidizing Mr Saraki’s lifestyle, including paying over a hundred million to settle rent and repair costs at Mr Saraki’s Maitama home.
