The Economic and Financial Crimes Commission (EFCC) has announced that Zamfara Governor Bello Matawalle is under investigation for alleged N70 billion fraud.
A statement on Thursday said the All Progressives Congress (APC) chieftain is being investigated for corruption, the award of phantom contracts, and diversion.
The commission noted that the money was sourced as a loan from an old-generation bank, purportedly for the execution of projects across the local government areas.
The funds were allegedly diverted by the governor, through proxies and contractors who received payment for contracts that were not executed.
EFCC said its investigations reveal how more than 100 companies received payments from the funds “with no evidence of service rendered to the state.”
The anti-graft agency disclosed that some of the contractors quizzed made “startling revelations on how they were allegedly compelled by the governor.”
The contractors were asked to “return the funds received from the state coffers back to him through his aides after converting the same to United States dollars.”
The monies were “returned to the governor through some of his commissioners, notably the commissioners in charge of Finance and Local Government Affairs.”