Mallam Gimba Yao Kumo who is the latest addition to President Muhammadu Buhari’s son-in-law list is presently being investigated by the Economic and Financial Crimes Commission, EFFC, over N3 billion fraud he allegedly committed while serving as the Managing Director of Federal Mortgage Bank, FMBN.
This is coming just days after the former FMBN MD tied the knot with Hajiya Fatima, (the second daughter of President Buhari by his first wife), in Daura, Katsina state at the Maiaduwa residence of the president.
According to Sahara Reporters, 57-year-old Malam Kumo has come under the spotlight of the anti-graft commission as a result of his involvement in fraud scheme while he was still in office as the MD of the country’s mortgage bank. The news site posted the about the investigation of President Buhari’s son-in-law on its Twitter page thus:
— Sahara Reporters (@SaharaReporters) October 31, 2016
Recall that Fatima officially became wife number four to the former FMBN on Friday, October 28, 2016, in accordance to the Islamic tradition which allows a man to marry up to four wives.
President Buhari’s son-in-law was appointed Managing Director and Chief Executive Officer of the Federal Mortgage Bank of Nigeria on the 4th December, 2010. His tenure ended in August 2014 after which he reportedly took to his heels to escape prosecution following the searchlight beamed on him by the National Salaries, Incomes and Wages Commission (NAIWC), having received several petitions accusing him of sleaze.
Kumo and three of his accomplices were said to have paid themselves severance packages at the end of their tenure in October 2014. According to the petition dated 29th August 2014, addressed to the National Salary and Wages Commission, the Managing Director paid himself N72, 532, 646. 85 on 31 October. The money was deposited into his account at UBA with sort code 033154282, account number 033154282.
The payment of severance benefit was said to be the height of other alleged fraudulent deals perpetrated by the administration of Kumo. Other fraudulent deals highlighted in the petition included the multi-billion Naira fraud mortgage finances and deductions from Civil Servants and alleged extortion of contractors who work for the bank who were made to pay heavily into an account to support the re-election of President Goodluck Jonathan.