Mohammed Bashir Sa’idu, a former Commissioner for Finance and Local Government in Kaduna State, has been arrested on charges of money laundering, criminal breach of trust, and misappropriation of public funds.
The arrest follows a petition alleging that during his tenure from 2015 to 2023, Sa’idu laundered approximately N3.96 billion and misappropriated N244 million.
Specifically, he is accused of selling $45 million in state-owned foreign currency at an undervalued exchange rate of N410 per dollar, resulting in a loss exceeding N3.96 billion to the government.
Additionally, he is alleged to have failed to account for proceeds from the sale of government properties in Marafa Estate, amounting to about N244 million.
The Kaduna State Police Command has confirmed Sa’idu’s arrest and is conducting an investigation into the allegations. Authorities have assured the public that due process will be followed in bringing the suspect to justice.
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