Michael Wetkas on Monday, November 7,  told the resumed Code of Conduct Tribunal (CCT) hearing in Abuja, that Senate President Bukola Saraki used a succession of loans from a new generation bank, not the proceeds of his crop sales, to finance two properties he acquired in 2006 in Ikoyi.

enator Bukola Saraki obtained several loans to finance his projects, says principal witness, Michael Wetkas.

According to Sahara Reporters, Wetkas read from a bank statement of Saraki covering the period 2005 and 2015 that was earlier admitted by the CCT as an exhibit, the principal witness said the former Kwara state governor obtained three loans – N380m, N380m and N400m – to finance the properties, which are located at 17A and B, McDonald Street in the highbrow area.

“In 2006, the balance was N9,779,109.79m before the loan was credited,” Wetkas said.  “This first loan taken was used to pay the one before. The loan amount was N380m.  The property it was used to buy was worth N256.3m. There was five per cent charge translated into N12,815,000.”

The witness further stated that the loan was liquidated on February 5, 2007, leaving a debit balance of N231,552,804.93.

“Then another loan was taken of N380m on the same February 5, 2007.  The second loan was taken to defray the debit.  It now gave a credit balance of N98m.”

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