EXCLUSIVE: Despite ₦105 billion debt, Bauchi govt borrows ₦3.5 billion to pay governor’s firm for exotic cars
The loan, granted by the United Bank of Africa , was paid directly to the bank account of Adda Nigeria Limited, a company in which Mr Mohammed retains a 20 per cent stake, according to documents seen by this newspaper.
The loan repayment, documents of the deal show, is to be deducted on equal installment from the state’s FAAC and VAT account domiciled with UBA. PREMIUM TIMES checks in Bauchi show that the house belongs to Sarkin Duguri, Mr Mohammed’s father. Relatives of the governor are said to be presently occupying the property, while his brother, the present holder of the Sarkin Duguri title uses the residence when he comes to Bauchi for Sallah festivities.
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