N27b Fraud Case: Former Governor Gets N150m Bail

A Federal Capital Territory (FCT) High Court has granted bail to the former governor of Taraba State, Darius Ishaku.

He was granted bail of ₦150 million on Thursday. This comes after the Federal Government accused him of being involved in a ₦27 billion fraud.

Justice Sylvanus Oriji, who presided over the case, set the bail conditions. Ishaku is required to provide two sureties, each also worth ₦150 million. One of the sureties must be a Federal Government employee holding a position of Director. Both sureties must live in the FCT, and their addresses will be verified by the court’s registrar.

Additionally, the judge placed a travel restriction on Ishaku and his co-defendant, Bello Yero. They are not allowed to leave the country without permission from the court.

The Economic and Financial Crimes Commission (EFCC) did not oppose the bail application. Rotimi Jacobs, representing the EFCC, said that Ishaku was earlier granted administrative bail by the agency without violating any conditions.

After approving the bail, Justice Oriji set the trial dates for November 4, 5, and 13. Ishaku, who was governor for eight years until 2023, is facing 15 counts of fraud. He pleaded not guilty when he was arraigned on Monday.

According to the EFCC’s charge sheet, dated September 27, Ishaku and the former Permanent Secretary of the Bureau for Local Government and Chieftaincy Affairs, Bello Yero, are accused of misusing ₦1,010,000,000 between August 25, 2015, and March 21, 2016. This sum was part of the 2.5 percent contingency funds assigned to the Bureau.

The EFCC also alleges that Ishaku and Yero diverted a total of ₦1,138,082,097.71 from the same fund between July 2015 and May 2019. Furthermore, they are accused of misusing ₦761,301,000 to pay back a loan of ₦1 billion that was given to their company, Worthy Construction Limited, by Zenith Bank Plc between September 2015 and January 2018.

The EFCC claims that while Ishaku was the governor and Yero was the Permanent Secretary, they dishonestly diverted ₦3,348,942,411.15, which belonged to the Bureau and local councils in Taraba State. The charge sheet states, “You thereby committed criminal breach of trust in respect of the said property, when you dishonestly diverted the said sum to your own use.”

The EFCC’s document also mentions other amounts allegedly diverted from the contingency fund by the defendants, including ₦650,686,369.99 between January 2019 and April 2021, ₦193,030,000 within the same period, and ₦170,549,842.00 during that time. The trial will continue on the scheduled dates as investigations progress.

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