The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has charged Muhammad Saidu, a former Commissioner of Finance in Kaduna State, with money laundering and corruption. The charges, filed at the Federal High Court in Kaduna, stem from Saidu’s alleged receipt of N155 million in cash from a public officer, Ibrahim Muktar, through his aide, Muazu Abdu, in March 2022.
The ICPC alleges that the cash payment exceeded the legally permissible limit for transactions. Saidu is also accused of knowingly taking control of the funds, which were suspected to be proceeds of corruption, in violation of the Money Laundering (Prevention and Prohibition) Act, 2022.
One of the charges states that Saidu, while serving as Commissioner of Finance, accepted the payment through a proxy, violating laws governing cash transactions. Another count accuses him of indirectly taking control of the money while being aware of its questionable origin.
The ICPC further revealed that Saidu is under investigation for other financial irregularities, including laundering N3.96 billion and misappropriating N244 million during his tenure under former Governor Nasir El-Rufai’s administration. This development comes amidst broader allegations of financial mismanagement against El-Rufai’s administration, with the Kaduna State House of Assembly recently accusing it of diverting over N423 billion in state funds.
