Alleged N4bn Fraud: Court Grants Ex-KASCO MD N500m Bail

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The Kano High Court on Thursday granted bail to the former managing director of

Kano Agricultural Supply Company, Bala Inuwa Muhammad and his son, Bala Inuwa Muhammad (Jr) who are standing trial for alleged diversion of N4 billion Kano State fund.

Recall that Mr. Muhammad was 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.

He was subsequently remanded in prison custody since 2nd November, 2023, when the charges were read to him and pleaded not guilty to all the charges.

At the court sitting on Thursday, Justice Hafsat Yahaya Sani while admitting the defendants to bail, said that both sureties must swear to an affidavit of means, showing gainful employment or engagement and they shall support the affidavit with documents showing an ongoing registered business, office address, residential addresses of each of the sureties.

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

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

Mr Muhammad 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 resident of Kano metropolis.

The second application Bala Inuwa Muhammad (Jr) is admitted to bail in the sum of Fifty Million Naira and two reasonable sureties of N25m each.

The hearing of the main suit is expected to commence on the 6th December, 2023.

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