₦27B Fraud Case: Ex-Taraba governor Ishaku granted ₦150M bail

GistReel

Former Taraba State Governor Darius Ishaku was granted bail in the amount of ₦150 million by a Federal Capital Territory (FCT) High Court on Thursday.

This decision comes amid serious allegations of a ₦27 billion fraud charge filed against him by the Federal Government.

Justice Sylvanus Oriji approved the bail, stipulating that Ishaku must provide two sureties, each also valued at ₦150 million. One of the sureties must be a Federal Government employee at the Director level.

Additionally, both sureties must reside in the FCT, and their residential addresses will be subject to verification by the court’s registrar.

During the proceedings, Justice Oriji imposed a travel restriction on Ishaku and his co-defendant, Bello Hero, barring them from leaving the country without court permission.

The Economic and Financial Crimes Commission (EFCC), represented by counsel Rotimi Jacobs, did not oppose the bail application, noting that Ishaku had previously been granted administrative bail by the agency without any infractions.

After granting the bail, Justice Oriji scheduled the commencement of the trial for November 4, 5, and 13. Ishaku, who served as governor for eight years before leaving office in 2023, faces 15 counts of fraud but pleaded not guilty when arraigned on Monday.

The EFCC’s charge sheet, dated September 27, accuses Ishaku and the former Permanent Secretary of the Bureau for Local Government and Chieftaincy Affairs, Bello Yero, of diverting ₦1,010,000,000 for personal use between August 25, 2015, and March 21, 2016. This amount is reported to be part of the 2.5 percent contingency funds allocated to the Bureau.

The agency further alleges that the defendants diverted an aggregate sum of ₦1,138,082,097.71 from the same contingency fund between July 2015 and May 2019.

Additionally, they are accused of misappropriating N761,301,000 to repay a loan of ₦1 billion from Zenith Bank Plc. granted to their company, Worthy Construction Limited, between September 3, 2015, and January 29, 2018.

“That you Ishaku whilst being the Governor of Taraba State and Bello Yero whilst being the Permanent Secretary, Bureau for Local Government and Chieftaincy Affairs, Taraba State between July 19, 2019 and February 5, 2021 in Abuja, within the jurisdiction of this Honourable Court, and in such capacity entrusted with dominion over certain property, to wit: an aggregate sum of ₦3,348,942,411.15, which sum formed part of the funds belonging to Bureau of Local Government and Chieftaincy Affairs, Taraba State and Local Government Councils in Taraba State, and you thereby committed criminal breach of trust in respect of the said property, when you dishonestly diverted the said sum to your own use,” the charge sheet partly read.

Other sums that allegedly formed part of the contingency fund diverted by the defendants include ₦650,686,369.99 between January 6, 2019, and April 29, 2021; ₦193,030,000 between January 2019 and April 29, 2021; and ₦170,549,842.00 between January 6, 2019, and April 29, 2021, among others.