Abdulazizi Yari
A youth group named the Zamfara Concerned Youth Assembly for Peace Advocacy has asked the Federal government through the relevant anti-crime agencies to probe the sudden wealth of ex-governor of Zamfara state, Senator Abdul’Aziz Abubakar Yari.
The group said it is worried that if Yari is not probed and prosecuted, his story of sudden wealth only after he tasted public office will send a wrong signal to youths and other Nigerians that public office is the most “lucrative business” in Nigeria.
The group recalled that in December 2025 Yari acquired 77% controlling shares of Geregu Power Plc from Femi Otedola at a whopping sum N1.08 trillion (about $750 million), using his company, MA’AM Energy Limited.
The deal, according to the group, followed MA’AM Energy’s earlier acquisition of 95% stake in Amperion Power, the company in which Otedola held most of the shares.
MA’AM Energy is owned by Senator Yari and his two sons.
The Zamfara youth group said the federal government should probe Yari’s source of income, the type that can give him the luxury of paying for such a gigantic project like the Geregu Power Plant.
“We are compelled by certain realities emanating from questionable extravagant excesses of former Governor of Zamfara State, Senator Abdul’Aziz Abubakar Yari, disguised as investments to cover up of unknown sources of his wealth, to bring to the notice of the Government of the Federal Republic of Nigeria, the leadership of the senate, the general public and of course, relevant authorities, that senator Yari is living far above his means; thus the need for security agencies of the state, especially the anti-graft agencies, to hold him to account,” the group said.
The Zamfara youths referenced a previous forensic investigation by Nigeria’s security apparatchik which linked Yari to a web of syndicate involved in a trove of financial crimes including money laundering, terror financing and unlicensed foreign exchange trading.
Whereas Yari’s name was not captured in documents released after the investigation, Yari was reported to have used his political stooges and foot-soldiers to execute the multi-dimensional deals which feed from illegal artisanal gold mining in Zamfara in collaboration with terrorists.
The syndicate used the trade name HAMAGS SOLUTIONS LTD, quoted to be a corporate solutions and trading entity, but which under forensic investigation was exposed as a conduit for illicit movement of funds to multiple accounts including terror financing.
The comprehensive forensic report said of Hamags Solutions: “Transaction narrations reveal its actual activities to include artisanal gold purchasing and trading, financial intermediation between gold suppliers and off-takers, disbursement of political funds on behalf of a senior federal legislator (name withheld).”
“Ordinarily, a person with such a drive into entrepreneurship is supposed to be celebrated, rather than being questioned. However, one’s sources of income must be transparently visible even if such a person shies away from public appearances and operates behind the scene,” the group noted, adding “we are not out to witch-hunt but to ask questions on transparency and accountability.”
