Fraud: Kano anti-graft agency files N1.026bn case against firm, agent




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The State Public Complaint and Anti-Corruption Commission has instituted a N1.026 billion fraud charges against Countrywide Housing Company Ltd. and one Ali Magashi at the State High .

In a case No: K/67C/2021, the Chief State Counsel, Salisu Muhammad-Tahir, said four-count charge were prepared against the defendants bordering on impersonation, illegal sale of land, personal enrichment and cheating.

Magashi is accused of illegal sale of 20 hectres of land belonging to the Emirate Council to the Family Homes Trust Funds Ltd., at the sum of N1.026 billion.

The defendant was also accused of presenting N500 million to owners as the total proceed from sale of the land and diverted over N526 million for his personal use contrary Sections 96 and 321, punishable under Sections 97 and 322 of the Panel Code (as amended) Laws of State [Cap. 105] Vol. 2.

“That you Ali M Magashi and Countrywide Company Ltd on or about May 21, 2018 in Kano, agreed to do an illegal act to wit: personage and actually impersonated the Incorporated Trustees of Ado Bayero Royal City Trust Fund (ABRCFT) and resold to Family Homes Trust Ltd.

“The 20 hectres of land situated at Damanawa Quarters, Tarauni Local Government Area of Kano State belonging to ABRCTF, at value of N1,026,902,300.00.

“That you Ali M Magashi and Countrywide Company Ltd on or about May 21, 2018, falsely represented yourself to be acting under a Power of Attorney dated March 29, 2018, while actually acting for your own self aggrandisement and thereby deceived Family Homes Trust Fund Ltd to believe you were instructed by the ABRCFTF to sale the 20 hectres of land at the value of N1.026 billion.

“Thereby induced the buyers to part with said sum of money as payment for the land when you had already bought the land from ABRCFT at the value of of N500 million, and you converted the difference in price to own use causing wrongful gain to yourself and wrongful loss to the Trust Fund to the tune of N526 million.

“That you Ali M Magashi and the Countrywide Company Ltd on or about June 11, 2018, interventionally deceived the ABRCTF into a belief that you were negotiating the sale of the 20 hectres of land belonging to the Emirate Council on behalf of the Family Homes Funds Ltd., and by so doing induced tte said trustees to agree to sell the land at grossly devalued rate of N500 million.

“And you, thereafter, resold the same land to Family Homes Funds Ltd., at the rate of N1,026,902,300,00 billion.

“And you dishonestly converted the difference in price to your use thereby causing wrongful gain to yourself and wrongful loss to the trust fund,” the agency said.

According to him, the prosecution will present evidence in support of its case to show that during the late Emir of Kano, Dr Ado Bayero, the Kano Emirate Council established the ABRCTF.

A total of 55 hectres of land was allocated to the ABRCTF to manage for the purpose of providing affordable housing units for the low income earners in the state.

“It will also show at trial that the Darmanawa Phase II comprising of 20 hectres of land with an estimated value of N1.53 billion,” it stated.

The documents dated March 13, 2021, were filed on behalf of the antigraft agency by the state chief counsel.

They were stamped and acknowledged receipt by the High on March 18. (NAN)

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