The embattled governor of the Nigerian Northern State of Bauchi, Malam Isa Yuguda whose Bauchi was recently entangled in financial crisis is reported to have found himself enmeshed in a new financial embarrassment. Information recently made available to 247ureports.com through sources close to the activities within the government house in Bauchi reveal that the first son of Governor Isa Yuguda’s first wife has become the owner a luxurious house at Maitama, Abuja. The source of the monies used to purchase the house has come under question.
According to the information received, the governor of Bauchi State recently made the purchase of the house at an estimated cost of N255million – as a gift for the son who recently completed his tertiary education in the United Kingdom and had returned home to seek a wife to marry. The son, as gathered, had told his father of his wishes to marry before he engages in any other major project/endeavor – of which – the father promised a home and $1million cash to settle him against his marriage. The house is reported to be located along Lake Chad Crescent near rows of luxurious houses belonging to former and present governors.
The community of Maitama, Abuja houses some of the most expensive and costliest houses [real estate] in West Africa. And many of the homes are owed by politicians and other corrupt officials who may have looted the coffers of their subjects. Many of the former officials who escaped the fangs of the economic and financial crimes commission [EFCC] reside in Maitama or own a home in Maitama.
An inside source points to the governor’s $1million [N158million] gift to his son – as coincidentally tallying with the period the governor took a loan on his personal salary account to the tune of N180million – of which – the governor had been reported to default on payment numerous occasions – due to non-payment of agreed monthly payments as stipulated by the banks.
As per the source of the money for the purchase of the Maitama house, it remains unsure. But it is certain that the finances of the Bauchi State government remain in tatters. This is as credible and verified information reveal that the Bauchi State checks drawn of the State main account at FIN/FCMB Bank [account number 212430000642501 has continued to bounce upon presentation for payment. The account operates steadily at overdrawn balance of N300million monthly.