Breaking News: Pension Fund Boss who embezzled N23.3 billion fined N750 thousand


War Against Corruption, Naija Way! A Federal Capital Territory (FCT) High court sitting in Abuja this morning sentenced former police pension boss Yakubu Yusuf to 6 years in prison for embezzling N23bn. Yusuf pleaded guilty to the embezzlement of N23.3 billion for personal use and is to forfeit property valued at N325 million. BUT He was given an option to pay a fine of N250 thousand to WALK FREE. Elombah.com learnt he has paid already!



Suspected Police Pension Fund thieves hide their hide in shame during a court session

Justice Abubakar Talba made an order for the forfeiture of 32 properties belonging to the convict in the FCT and GOMBE state and the sum of N325, 185, 857.00 only.

Mr Yusuf, who was tried alongside a former Permanent Secretary in the Office of the Head of Service, Abubakar Kigo and four others, including Sani Habila Zira, Esai Dangabar, Ahmed Inuwa Wada, Veronica Ulonma Onyegbula, was charged with criminal breach of trust by public officers. They are alleged to have stolen the sum of N3.8 billion pension funds; an offence contrary to Sections 37and 315 of the Penal Code Act, Laws of the Federal Capital Territory, Abuja Nigeria, 2007.

Counts one and 2 of the charges read as follows: “That you Esai Dangabar, Ahmed Inuwa Wada, John Yakubu Yusuf, AtikuAbubakar Kigo, Mrs. Veronica Ulomna Onyegbula and Sani Habila Zira between January 2009 and June 2011 at Abuja Division of the High court of the Federal Capital Territory agreed to do an illegal act, to wit. Criminal breach of trust by public officers in respect of the sum of N14, 518, 567, 724.36 (Fourteen Billion, Five Hundred and Eighteen Million, Five Hundred and Sixty Seven Thousand, Seven Hundred and Twenty Four Naira and Thirty Six kobo) and that the same act was done in pursuance of the agreement among you and you thereby committed an offence punishable under section 97 of the Penal Code Act Cap 532, Laws of the Federal Capital Territory, Abuja, Nigeria 2007.

“That you Esai Dangabar, Ahmed Inuwa Wada, John Yakubu Yusuf, Atiku Abubakar Kigo, Mrs. Veronica UlomnaOnyegbula and Sani Habila Zira between January 2009 and June 2011 at Abuja Division of the High court of the Federal Capital Territory, being public officers in the service of the Government of the Federation and in such capacity entrusted with certain property to wit: the sum of N14, 518, 567, 724.36 (Fourteen Billion, Five Hundred and Eighteen Million, Five Hundred and Sixty Seven Thousand, Seven Hundred and Twenty Four Naira and Thirty Six kobo) which sum formed part of the Nigerian police pension funds in the account domiciled at First Bank of Nigeria Plc., committed criminal breach of trust in respect of the said property, and you thereby committed an offence and that the same act was done in pursuance of the agreement among you and you thereby committed an offence punishable under section 315 of the Penal Code Act, Cap. 532, Laws of the Federal Capital Territory, Abuja, Nigeria 2007…”

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