Saraki purchased property with bank loan, not proceeds from rice sales – EFCC tells Tribunal

Forum 7 years ago

Saraki purchased property with bank loan, not proceeds from rice sales – EFCC tells Tribunal

The principal witness in the ongoing trial of the President of the Senate, Bukola Saraki, Michael Wetkas, on Monday informed the Code of Conduct Tribunal, CCT, that Saraki lied that he procured a property with proceeds from a rice and sugar sales.

Wetkas, a detective of the Economic and Financial Crimes Commission, EFCC, claimed that the President of the Senate actually procured the said property through a bank loan from Guaranteed Trust Bank, GTB.

He made the claim during being cross-examined by Saraki’s lawyer, Paul Usoro on counts two and three of the 16-count charge of false asset declaration against the President of the Senate.


The EFCC’s operative while acknowledging the charge which read in part: “You (Saraki) falsely declared a property at 17 A and B Ikoyi, Lagos, which you said you bought from the proceeds of rice and sugar whereas it was a loan from Guaranty Trust Bank (GTB),” said it was? valid.

Wetkas disclosed that the President of the Senate purchased the property in 2006 from a loan of N400m from GTB, but he did not declare it in his 2011 assets declaration.

Saraki is currently facing trial at the tribunal for alleged false declaration of assets when he was the governor of Kwara State.