A former accountant-general in Bauchi State, Sa’idu Abubakar, was brought before a state High Court on Friday to answer a 16-count charge linked to an alleged N11 billion loan scam. The case revolves around the purported acquisition of motorcycles that never existed.
According to the prosecution, Abubakar misappropriated N3 billion from a loan facility obtained from UBA Bank, which was intended to buy 5,000 motorcycles. The funds were allegedly diverted for personal use, leaving no trace of the motorcycles.
He is also accused of deceiving the Bauchi State House of Assembly and the Office of the Secretary to the State Government. The prosecution claims he presented unauthorized loan documents as officially approved, leading to the misuse of approval instruments.
Further allegations include the diversion of N4.65 billion and N3.36 billion from separate loans sourced from Polaris Bank and UBA Bank, again for the motorcycle project. The defendant is said to have created Irrevocable Standing Payment Orders without proper authorization and used forged documents.
To support its case, the prosecution plans to present a range of evidence, including resolutions from the Executive Council and House of Assembly, official correspondence, bank statements, investigative findings, witness accounts, and ISPO papers. Several government officials, investigators, and finance staff are expected to testify.
The trial will continue before the Bauchi State Financial Crimes Court, where Abubakar will enter his plea to the charges.