A petition alleging that the Kano State governor, Dr Rabiu Musa Kwankwaso, mismanaged N3billion pension fund belonging to the Kano State Pension Trust Fund has been sent to the EFCC.<\/p>\n
Some employees of the Kano State Pension Trust Fund, alleged that the governor mismanaged the N3billion pension fund inherited from the Ibrahim Shekarau administration.<\/p>\n
According to the petition, the trust fund set up by state law with independent Board of Trustees had N3billion in its account in Zenith Bank as of May, 2011 when Governor Kwankwaso took over. This, it said, is in addition to landed property in the Federal Capital Territory which are part of investment of the trust fund.<\/p>\n
It was alleged that the governor, without the consent of the board of the fund, transferred the account and the entire N3billion from Zenith Bank to Fidelity Bank and opted to construct housing\u00a0 estates with the fund.<\/p>\n
The governor was reported to have announced that he will build three housing estates with the pension fund which, according to the petitioners, is not government fund but contributions of public servants in the\u00a0 state.<\/p>\n
The estates the governor allegedly mentioned include Kwankwasiya, Bamdarao and Amana. The petitioners alleged that the handling of the fund as if it is government fund is in clear breach of the law and that deploying the money for estates without supervision or consent of the fund\u2019s board of Trustees implies diversion of the contributory money for purpose not approved by law.<\/p>\n
The petitioners also alleged that the governor tampered with the landed property of the fund in Abuja. According to the petition, the governor handed over a big landed property of the fund to an estate agent at a peanut.<\/p>\n
Reacting to the report, the state governor dismissed the reported investigation as a political witchhunt.<\/p>\n
Speaking through his Director of Press, Alhaji Haliru Dantiye, the governor said: \u201cWe will not\u00a0 be surprised if this is happening. Kano State has nothing to fear or hide and remember Governor Kwankwaso was investigated after he left office in 2003 and he came out not only clean but with enhanced integrity hence he got re-elected in 2011.<\/p>\n
\u201cMy hope is that all those doing this now with their Ogas at the top will also come out clean like Governor Kwankwaso whenever the shoe is in the other foot,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
A petition alleging that the Kano State governor, Dr Rabiu Musa Kwankwaso, mismanaged N3billion pension fund belonging to the Kano State Pension Trust Fund has been sent to the EFCC.…<\/p>\n","protected":false},"author":1,"featured_media":19658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-19657","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\n