N432bn Fraud: El-Rufai Spends Second Night in EFCC Custody as Bail Request Fails.
By Bala Salihu Dawakin Kudu | Democracy Newsline | February 18, 2026.
Former Kaduna State Governor, Nasir El-Rufai, has spent a second night in the custody of the Economic and Financial Crimes Commission (EFCC) following the rejection of his administrative bail request over an alleged N432 billion fraud.
Sources within the anti-graft agency disclosed on Tuesday that investigators are finalising arrangements to arraign the former governor on charges bordering on misappropriation of public funds and money laundering during his tenure from 2015 to 2023. The source, who spoke on condition of anonymity, indicated that El-Rufai may remain in custody pending his formal appearance in court.
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The investigation is reportedly tied to findings by the Kaduna State House of Assembly, which in 2024 constituted an ad hoc committee to review loans, contracts and other financial transactions undertaken during the previous administration.
Presenting the committee’s report during plenary, Chairman Henry Zacharia alleged that several loans amounting to over N432 billion were either misapplied or not utilised for their intended purposes.
The Speaker of the House, Yusuf Leman, further accused the former administration of leaving the state with heavy liabilities and a rising debt profile through what he described as reckless borrowing and financial mismanagement.
Among the issues highlighted were disputed contract payments exceeding N155 million, the alleged diversion of N1.37 billion earmarked for a light rail project, and the reported laundering of N64.8 million by senior officials.
The committee recommended the prosecution of the former governor and select cabinet members for alleged abuse of office, diversion of public funds and money laundering.
Lawmakers also urged both the EFCC and the Independent Corrupt Practices and Other Related Offences Commission to intensify investigations and ensure the recovery of any funds found to have been misappropriated.
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As of press time, efforts to obtain a response from El-Rufai’s media aides were unsuccessful. The development has stirred significant political reactions within Kaduna State and beyond, with legal analysts noting that the outcome of the case could have far-reaching implications for accountability in public office.
(DEMOCRACY NEWSLINE NEWSPAPER, FEBRUARY 18TH 2026)
