The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has formally arraigned Gimba Yau Kumo, the former Managing Director of the Federal Mortgage Bank of Nigeria (FMBN) and a relative of former President Muhammadu Buhari, in connection with an alleged fraud involving the diversion of $65 million in public funds.
The arraignment took place at the Federal High Court in Abuja, where Kumo faces multiple charges related to money laundering and the misappropriation of government resources. The ICPC alleges that Kumo awarded a contract valued at $65 million to a company that lacked the necessary capacity to execute the project, thereby facilitating the unlawful diversion of public funds.
In a statement, the ICPC emphasized its commitment to combating corruption and ensuring accountability in public office. "This case underscores our determination to hold individuals accountable for their actions, regardless of their status or connections," said a spokesperson for the agency.
Kumo's legal team has sought bail, arguing that he poses no flight risk. However, the ICPC has expressed concerns regarding potential interference with ongoing investigations if he is released. The court is expected to deliberate on the bail application in the coming days.
This development comes on the heels of a broader crackdown on corruption within Nigeria's public sector, as authorities strive to restore public trust and integrity in governance. The ICPC has reiterated its resolve to pursue all cases of corruption vigorously.