Mr. Muhyi Rimingado, the Chairman of the commission, confirmed the commencement of the investigation during a visit to the warehouses in Kumbotso Local Government Area, where alleged cars, heavy-duty tractors, and equipment believed to have been purchased using the misappropriated funds were stored.

According to Rimingado, the funds were deceptively transferred from KASCO to an association registered with the Corporate Affairs Commission, which goes by the name "Association of Compassionate Friends."

The commission is determined to uncover the truth behind the misappropriation and hold those responsible accountable for their actions. The investigation is aimed at ensuring transparency and safeguarding public funds from embezzlement and corruption.

“The Association was meant to promote and take care of the living standard of the children of the less privileged people in the society, but unfortunately it has been turned into a machine stealing public funds,” he noted.

The chairman explained that the funds were being drawn from the Kano state government as a grant to KASCO, but was siphoned using the registered corporate association.

“We have arrested eight suspects who are revealing credible information to the commission.

“One of them said he was given certain amount to make false submission at KASCO, but kept the money aside waiting for a moment like this and he has voluntarily returned the money.

“So far, we’ve recovered the sum of N15 million and have succeeded in blocking about N8 million,” he disclosed.

Rimingado said the commission was suspicious of how some transactions were being made between the companies and some banks, stressing that some bank managers may be invited to clear some issues.