Alleged N4bn Fraud: Court Grants ex-KASCO MD, Son Bail

The Kano State High Court has again granted bail to the former managing director of Kano Agricultural Supply Company (KASCO), Bala Inuwa Muhammad, who is standing trial for alleged diversion of N4 billion Kano state fund.

The News Agency of Nigeria (NAN) reports that Muhammad was granted bail alongside his son, Bala Inuwa Muhammad, on Thursday.

The duo were arraigned by the Attorney General of Kano state before Justice Hafsat Yahaya Sani, following an investigation by the Kano State Public Complaints and Anti-corruption Commission on allegations

bordering on criminal breach of trust by servant, making false statement or return and official corruption.

They were first granted bail by Justice Us an Na’abba of Kano state High Court 4 on Aug. 8, 2023,

The accused were remanded in prison custody after arraignment before the court since Nov. 2, when the charges were read to them and pleaded not guilty to all the charges.

When the matter come up today (Nov. 23) for ruling on bail application brought forward by the accused through his counsel, Prof. N.A. Aliyu SAN, the Presiding Judge, Justice Hafsat Yahaya Sani, admitted the application to bail on N500 million and two responsible sureties who both are up to date tax payers in the sum of N250 million each.

The court further ordered that both sureties must swear to an affidavit of means supported with document showing an ongoing registered business and residential addresses.

The sureties must also present tax document covering three preceding years which must be verified by the court registrar, while the police attached to the court must deposed to an affidavit confirming all information deposed to in the affidavit of the sureties.

The accused is also required to obtain a letter of identification from a responsible citizen of Nigeria who works or does business within the territorial jurisdiction of the court, while all the sureties must be residents of Kano metropolis.

The second accused, Bala Inuwa Muhammad (Jr), was admitted to bail in the sum of N50 million and two reasonable sureties of N25 million each.

The hearing of the main suit is expected to commence on Dec. 6.