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Thursday, 19 July 2012 06:21

Nyako: Between EFCC and CBN who is lying? Featured

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ust this week, some commercial banks released the names of some of its debtors which they said was a directive given by the Central Bank of Nigeria (CBN) to be published on a quarterly basis. Among the published debtors was a former governor of Adamawa State, Murtala Hammanyero Nyako, who was said to be owing Union Bank N115.5 million classified as overdraft projects financing term loans.

According to a Daily Trust publication, Nyako was one of the directors of the Noble Heavy Duty Industry whose loan was collected under his names and the term facility of the loan was collected on November 11, 2008 and had expired on May 20, 2009.

 But the  Economic and Financial Crimes Commission (EFCC)  interrogated Nyako     over alleged corrupt practices   and money laundering   of  N15 billion belonging to Adamawa State  to which he used some   companies  such as  Blue Opal Nigeria Limited, Crust Energy Nigeria Limited, Blue Ribbon Multilinks Limited, Tower Assets Management Limited and Blue Ribbon Bureau De Change to divert funds.


Even though the  EFCC said their   investigation against Nyako  was triggered by petitions against him to which many believe was organised by the federal government, they alleged that he looted   the treasury with  his cronies through an illegal department called Special Programme and Project Units, SPPU, which engaged in over invoicing and inflation of contract.

Nigerians all know that   Nyako’s travail originated from two ‘incidental pies’ during former president Goodluck Jonathan’s administration. The first was his independent-mindedness and audacity to dump the then ruling party, PDP, along with other ex-governors.  Since then the PDP was no longer ready to take matters lying low and the dummy for the critical assessment of his stewardship, pied with booby traps ostensibly to spite him began.

  Another point was how he openly castigated Jonathan, saying he was behind the genocide against the north eastern region, all in the name of fighting Boko Haram at the heat of a gruelling massacre of the people of the area by the outlawed insurgents.

Before he was impeached, the EFCC had in June 2014, frozen the bank accounts belonging to Adamawa in what it then called a precautionary measure to safeguard the state treasury. The commission had alleged massive looting of the treasury by top officials of the state government under Nyako, a development that led to the arrest and questioning of key officials of his cabinet including the then secretary to the state government, state commissioner for finance, commissioner for higher education, accountant general of the state and permanent secretary, ministry for local government affairs. The commission declared Nyako wanted and set in its dragnet to track him and his son, Abdulaziz, whom they alleged fronted for his father.

Nyako, however, was not disturbed by the incident and described the anti-graft agency’s ambush on him as ‘the last kicks of a dying horse’. Notwithstanding the accusations, Nyako continued to enjoy soaring support even after he left office, culminating to his son, Abdul-Aziz’s victory as the senator representing Adamawa Central.  

Following the recent disclosure from the bank, if Nyako had looted the treasury to the tune of N15 billion as EFCC had claimed, why would he borrow  N115.5 million within the same period that  the EFCC accused him of financing Noble Heavy Company as a governor and director? It is time for Nigerians to know if the EFCC is telling us the truth or the bank, of course the former governor and his son were being witch hunted for political reasons. 

Read 1708 times Last modified on Saturday, 15 August 2015 21:31