The Kano State Public Complaints and Anti-Corruption Commission says it has commenced an investigation into over N4 billion in missing government funds from the Kano Agricultural Supply Company (KASCO).

The Chairman of the Commission, Mr. Muhyi Rimingado, confirmed this when he led an investigation tour to the warehouses where cars and heavy-duty tractors believed to have been bought with the siphoned funds were being kept in the Kumbotso Local Government Area of the state.

Rimingado said the funds were mischievously transferred from KASCO to the Association of Compassionate Friends, registered with the Corporate Affairs Commission.

“The Association was meant to promote and take care of the living standards of the children of the less privileged people in society, but unfortunately it has been turned into a machine stealing public funds,” he noted.

The chairman explained that the funds were being drawn from the state government as a grant to KASCO but were siphoned off using the registered corporate association.

“We have arrested eight suspects who are revealing credible information to the commission.

“One of them said he was given a certain amount to make a false submission at KASCO but kept the money aside waiting for a moment like this, and he has voluntarily returned the money.

“So far, we’ve recovered the sum of N15 million and have succeeded in blocking about N8 million,” he disclosed.

Rimingado said the commission was suspicious of how some transactions were being made between the companies and some banks, stressing that some bank managers may be invited to clear up some issues.