The Chairman of the Commission, Muhyi Magaji Rimingado, revealed this during an investigation tour to warehouses where alleged cars and heavy-duty vehicles were kept.
These vehicles are believed to have been purchased with the missing funds and stored in a warehouse located in Kumbotso local government area of the state.
Rimingado stated that the funds were illicitly transferred from Kano Agricultural Supply Company to an association registered with the Corporate Affairs Commission named "Association of Compassionate Friends." Initially intended to support the well-being of children from less privileged backgrounds, the association has allegedly become a channel for embezzling public funds.
He clarified, "The funds belong to the Kano state government and were withdrawn from its coffers as a grant to KASCO, but later siphoned using the registered corporate association and a business name company of limestone."
The Commission has already apprehended eight suspects in connection with the case, and they are providing vital information. One of the suspects admitted to receiving a sum of money to fabricate false submissions at KASCO but decided to keep the money aside, eventually returning it during the investigation. So far, the Commission has recovered N15 million and successfully blocked about N80 million.
Rimingado expressed dissatisfaction with certain transactions between companies and banks, implying that some bank managers may be summoned to clarify issues. The Commission is preparing to file the case with the appropriate court.
He urged the people of Kano State, especially civil servants, to provide credible information that could lead to the recovery of looted government assets, assuring them of protection.