Former Chief Executive Officer of the Federal Mortgage Bank of Nigeria, Gimba Ya’u, who is also former President Buhari’s in-law, has been arraigned by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) for allegedly diverting $65 million meant for the construction of residential units in Abuja.
Ya’u, along with former FMBN director Bola Ogunsola and Tarry Rufus, managing director of T-Brend Fortunes Nigeria Limited, were arraigned before Justice James Omotosho of the Federal High Court in Abuja on Tuesday.
The defendants are facing charges under the Public Enterprises Regulatory Commission Act and the Money Laundering Act, with allegations of mismanagement and financial loss to the bank.
The project, which was left incomplete, caused a significant financial loss to the bank, according to ICPC.
The trial has been adjourned to February 6, 2025. It should be noted that Ya’u is also known for his marriage to former President Buhari’s daughter, Fatima, in 2016.
