FEDERAL MORTGAGE BANK MD, GIMBA YA’U KUMO ON THE RUN OVER FRAUD

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Managing director and chief executive officer of Federal Mortgage Bank of Nigeria, Gimba Ya’u Kumo who recently ended his tenure has taken to his heels to escape prosecution following the searchlight beamed on  him by the National Salaries, Incomes and Wages Commission.

Gimba(pictured) last year was conferred with the National Honours Award of the Officer of the Order of the Niger(OON) by President Goodluck Jonathan in September, and received the 2013 UNESCO Public Service Award.

However, his life is presently in a mess after the Wages Commission received several petitions accusing him of sleaze.

Kumo and three of his accomplices were said to have paid themselves severance packages at the end of their tenure in October 2014 though sources said their tenure might have been renewed gongnews.net reports.

According to the petition dated 29th August, 2014, addressed to the National Salary and Wages Commission, the Managing Director, paid himself N72, 532, 646. 85 on 31 October, the money was deposited into his account at UBA with sort code 033154282, account number 033154282.

Other beneficiaries include: New man Ordia, the ED ORD, Access Bank- sort code 044150149, account number 0006822327, amount N51, 785, 624.49; Ogunsola Bola, GTb sort code 058152052, account number 0023702939, amount N51, 785, 624.49 and Nwogbo Michael, Eco Bank- sort code 050150311, account number 2752015379, amount N46,083,658.80, all as severance benefit.

According to available document obtained from the FMBN, these payments were made on the 31 October, 2014.

The payment of severance benefit was said to be the height of other alleged fraudulent deals perpetrated by the administration of Kumo.

Other fraudulent deals highlighted in the petition included the multi billion Naira fraud mortgage finances and deductions from Civil Servants and alleged extortion of contractors who work for the bank who were made to pay heavily into an account to support the re-election of President Goodluck Jonathan.

It would be recalled that Kumo’s management team had in the last one year, appeared before the Senate committee on Housing to answer fraud related allegations against the management. Some of the allegations borders on unjustifiable contracts and spending.

The embattled MD is alleged to have diverted most of the funds meant for Housing in Gombe and the North east to fund the construction of his five star hotel in Gombe.

Source claimed that Kumo may have opted to go on the run to escape prosecution after his fraudulent activities came into the open. It was said that no one has sighted him for almost two weeks and all his known mobile phone lines are switched off.

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