Investigators have traced approximately N1.7 trillion to accounts and entities associated with former Zamfara State Governor and current Senator, Abdulaziz Abubakar Yari, in a development that has drawn significant scrutiny from financial and security agencies.
According to findings, the funds were linked to accounts belonging to Engr. Abdulkarim Abdullahi Tsafe, a former Chief of Staff to Yari, as well as Kayatawa Nigeria Limited, a company reportedly owned and operated by the former governor. Authorities noted that the scale of the transactions has raised concerns among investigators examining the financial trail.
Officials involved in the probe indicated that the N1.7 trillion formed part of the financing used in the acquisition of the Geregu Power Plant. Details of how the funds were accumulated and transferred remain under investigation, with agencies working to establish the full scope of the transactions and any potential violations.
The financial scrutiny of Yari is not new. In 2021, a Federal High Court in Abuja ordered the forfeiture of several funds linked to the former governor and entities associated with him. The ruling followed applications by authorities seeking to seize assets suspected to be proceeds of unlawful activities.
Court records showed that $56,056.75 was held in a Polaris Bank account connected to Yari. Additional sums, including N12.9 million, N11.2 million, $301,319.99, N217,388.04, and $311,872.15, were identified in multiple Zenith Bank accounts tied to him and his companies.
In 2022, Yari was arrested in connection with alleged financial misconduct involving N84 billion and N22 billion. During questioning by security agencies, he reportedly made statements concerning the distribution of portions of the funds. Reports indicated that his remarks included references to high-profile individuals, though the details and implications of those claims have not been fully clarified in official proceedings.
Following these developments, Yari was subsequently released. The circumstances surrounding his release have been widely discussed, though authorities have not publicly provided a detailed explanation beyond procedural considerations.
International attention has also been drawn to Yari’s financial activities. Officials in the United Arab Emirates reportedly flagged certain transactions and shared intelligence with authorities in the United States. As a result, he has been designated a “person of interest” in ongoing international financial monitoring efforts.
Further allegations have linked the former governor to gold trading activities in Dubai. Investigators are examining claims that he holds significant interests in the Gold Souk market, with suspicions that these ventures may be connected to illegal gold mining operations in Zamfara State.
Zamfara has long struggled with issues related to unauthorized mining, which authorities say has contributed to economic losses and security challenges in the region. The extent of Yari’s involvement, if any, in such activities remains under investigation.
Despite the allegations and ongoing probes, no final judicial determination has been publicly confirmed regarding the full scope of the claims against Yari. Authorities continue to examine financial records, international transactions, and corporate links as part of a broader effort to establish accountability.
The case remains a subject of national and international interest, particularly given the scale of the funds involved and the potential implications for financial regulation and anti-corruption efforts.
