The northern Nigerian State of Bauchi appears reeling from an unending tailspin of financial administrative maladies that have plagued the Yuguda administration from the inception of the administration in 2007. Information available to 247ureports.com through a source within the government house in Bauchi State reveals that while the state government battles financial insolvency, the state governor, Malam Isa Yuguda has embarked on a N2.5billion project for the construction of his private home.
The Governor of Bauchi, Malam Isa Yuguda, according to a principal source within the Yuguda administration, had purchased two units of land area from the government of Bauchi State at the piece of N1million each – two years ago. The land was purchased at a heavily discounted rate. Real estate speculators pegged the actual land price to be magnitudes higher.
Governor Isa Yuguda, shortly following the purchase of the property, moved to demolish the structures standing at the property. He began erecting 6-unit structures at each of the land area – one for his private use and the other for the use of his children. Both complexes are described as luxurious edifices and are located along Sir Ibrahim road inside Bauchi metropolis. The Governor is said to be erecting both complexes against the end of his governorship tenure in 2015.
[The Secretary to the State Government is said to be erecting a complex near the governor’s complex – stay tuned for the publication]
According to the source, the two complexes are value at a minimum N2.5billion – with the governor private complex valued at N2billion while that of his children is valued at N500million. The construction work at the two sites is presently ongoing.
It is noteworthy that the Bauchi State treasury appears regularly in the red – steadily running a monthly overdrawn balance of N300million for the State’s main account housed at FCMB in Bauchi.
Independent inquiry carried out by 247ureports.com revealed that the financial squalor within the Bauchi State administration may arouse the inquisitive attention of the economic and financial crimes commission [EFCC]. As learnt, the main bank accounts of the Bauchi government are said to be drawn down immediately following each payment of monthly allocation from the federal government. “Within days of payment into the State accounts, it is drawn down to messily N1million”, confirmed a source who continued to add the state government withdraws the monies to pay for loans and bonds Yuguda took during his first tenure as governor. It was learnt that the Yuguda administration has, as a result, turned its attention to federal funds allocated to the local government areas [LGA] for monies to run the government. It was gathered that out of the average N80million received monthly by the various LGAs, only N5mllion left with the LGA while the remainder is housed by the Yuguda administration.
In talking to the Yuguda administration, through the Chief Press Secretary, Mr. Michaels, they confirmed that the governor was indeed erecting a complex at the said location. Mr. Michaels however denied that the complexes were worth the alleged amount. The Chief Press Secretary recalled that the Governor had been in top executive positions at two major banks –and had served as a federal minister prior to his accession to the seat of Governor. “The Man, Isa Yuguda can afford to build his home without help” said the chief press secretary who went to state that the issue was a private matter – that should be left alone.