Toba Owojaiye reporting
Kaduna, Nigeria
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has initiated legal proceedings to temporarily forfeit N1,373,180,510.07, suspected to have been diverted from Kaduna State Government funds earmarked for the now-abandoned Kaduna Light Rail Project. The commission made its move on February 14, 2025, filing an ex-parte motion before the Federal High Court in Kaduna.
Truth Live News gathered that the funds, which ICPC alleges were funneled into a private company’s account, are currently held by the Central Bank of Nigeria (CBN). The commission seeks to return the money to the Kaduna State Government for public use.
The Kaduna Light Rail Project was approved and funded under the administration of former Governor Nasir El-Rufai. However, ICPC’s findings paint a troubling picture of financial irregularities.
According to the anti-graft commission, N11,099,579,455.14 was wired into the account of Indo Kaduna Marts JV Nig. Ltd. between December 23, 2016, and January 17, 2017. A major red flag, however, is that the company was not legally registered with the Corporate Affairs Commission (CAC) until May 10, 2017—four months after receiving billions from the Kaduna State Government.
ICPC further revealed that state officials, alongside an Indian representative of Skipper Nigeria Limited, were signatories to the company’s account, raising concerns about the legitimacy of the joint venture.
Among the findings presented in court:
On December 23, 2016, Kaduna State transferred an initial N890.3 million from its Treasury Single Account into Indo Kaduna Marts JV’s account.
On January 10, 2017, another N2.3 billion followed from the Office of the Accountant General of Kaduna State.
By January 17, 2017, an additional N7.9 billion had been deposited into the company’s account.
Investigations revealed that the funds were placed into an interest-yielding fixed deposit, generating N326.8 million in interest.
The interest earnings were later transferred into various accounts belonging to Skipper Nigeria Limited.
ICPC also noted that while Indo Kaduna Marts JV was meant to execute the light rail project, no such work was ever done. Instead, by July 2019, N10 billion was returned to the Kaduna State Government from the company’s account.
In its motion before the court, ICPC seeks:
- A temporary forfeiture of the recovered N1.3 billion to the federal government.
- A court order directing the commission to publish a notice calling for interested parties to justify why the funds should not be permanently forfeited.
- Any further orders the court deems necessary in the interest of justice.
ICPC argues that the funds in question belong to the people of Kaduna State, who were deprived of a functional light rail system. “The diversion of the alleged sum into private accounts has deprived the people of Kaduna State of the benefits of the rail transportation system for which the money was meant,” the motion reads.
While ICPC’s findings have ignited fresh scrutiny over El-Rufai’s administration, the timing of the investigation has sparked political speculation. The former governor and his successor, Governor Uba Sani, have been locked in a simmering political feud, which escalated when Sani publicly declared that Kaduna State’s debt burden—accumulated largely during El-Rufai’s tenure—had left the state in a dire financial situation.
With the Presidency reportedly taking interest in Kaduna’s financial dealings, some observers believe this case could be part of a broader effort to reshape the power dynamics in the state. The saying, “Those who live in glass houses should not throw stones,” now looms over the unfolding saga, as political alliances shift and former allies turn into rivals.
For now, all eyes are on the court proceedings, which could determine not only the fate of the N1.3 billion but also the trajectory of Kaduna’s political landscape.