Home Politics ACF Orders Forensic Audit Over Alleged N1.4bn Endowment Fund Transfers
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ACF Orders Forensic Audit Over Alleged N1.4bn Endowment Fund Transfers

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The National Executive Committee (NEC) of the Arewa Consultative Forum (ACF) has ordered an immediate forensic audit into the organisation’s finances following allegations of irregular transfers and alleged mismanagement of its Endowment Fund totalling about N1.4bn.

The decision was taken at a heated NEC meeting held in Kaduna on Wednesday, where members considered an interim report submitted by the Forum’s Code of Conduct and Ethics Committee (CCEC), amid growing internal tensions over governance and financial accountability.

The probe was triggered by a petition filed by an ACF member, Murtala Abubakar, against the Chairman of the Board of Trustees (BoT), Alhaji Bashir Dalhatu, who is accused of constitutional breaches and financial misconduct relating to the management of the Endowment Fund.

According to the petition and NEC communiqué signed by the National Publicity Secretary, Prof. Tukur Muhammad Baba, the allegations include the alleged transfer of funds from the Forum’s Kaduna account to a Jaiz Bank branch in Kano without due constitutional approval.

The petitioner further alleged that about N1.4bn from the Endowment Fund was moved into an investment account on the directive of the BoT chairman, raising questions over due process and oversight.

He also accused Dalhatu of inserting himself as a signatory to ACF accounts and exercising direct control over the Forum’s finances, an action said to be contrary to the provisions of the ACF constitution.

Presenting its findings, the CCEC chairman, Prof. Nuhu Jamo, said the committee reviewed the Forum’s constitutional framework and established that financial custody and disbursement powers are vested in the Treasurer, while the Secretary-General serves as the accounting officer.

He stressed that the constitution makes no provision for the BoT chairman or any other official to directly manage or disburse funds beyond oversight functions.

“The assumption of direct control over the Forum’s finances by the BoT chairman would amount to a breach of constitutional provisions and established fiduciary principles,” the report stated.

After deliberations, NEC unanimously adopted the committee’s recommendations, approving an immediate comprehensive forensic audit of all ACF financial transactions, particularly those linked to the Endowment Fund.

The committee also cited fresh documentary evidence, including a letter allegedly written by Dalhatu on November 20, 2025, to Jaiz Bank requesting the transfer of an account to another branch in Kano for what was described as “banking consolidation.”

NEC members said the development further heightened concerns over financial transparency within the Forum and made urgent independent scrutiny unavoidable.

The committee further recommended disciplinary action against the BoT chairman pending the outcome of investigations.

Reaffirming its position, NEC stressed that the ACF remains committed to transparency, accountability, and strict adherence to its constitution, noting that the integrity of the Forum must not be compromised.

It added that despite the controversy, the organisation remains united and focused on safeguarding its credibility and public trust.

Pelican Valley
Pelican Valley

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