N740m fraud: Court arraigns former SDP chair Gabam

An Federal Capital Territory Chief Magistrates’ Court on Tuesday granted bail to former National Chairman of the Social Democratic Party, Shehu Gabam, over allegations of criminal misappropriation of party funds, breach of trust and forgery.

Gabam was arraigned alongside Chukwuma Ogbonna Uchechukwu before Chief Magistrate Amauche Onyedium in suit number DCC/10/2026.

The direct criminal complaint was filed by the current SDP National Chairman, Dr. Sadiq Abubakar, under provisions of the Administration of Criminal Justice Act, 2015.

During proceedings, counsel for the complainant informed the court that the prosecution required time to respond to the bail applications filed by the defendants.

Chief Magistrate Onyedium subsequently granted Gabam bail in the sum of N3 million with two sureties who must own landed property in Abuja.

The court also ordered the former SDP chairman to deposit his international passport with the court registrar pending the determination of the case.

The matter was adjourned until May 25 for further hearing.

Speaking with journalists after the proceedings, Abubakar said the party approached the court after petitions submitted to relevant agencies allegedly failed to yield action.

He claimed that the party had earlier submitted bank statements and financial records to the Independent National Electoral Commission for investigation into alleged financial misconduct.

According to him, an audit report under the former leadership showed that the party generated about N32 million during the period under review, with nearly N31 million allegedly mismanaged.

Abubakar further alleged that party officials later discovered documents linked to two bank accounts containing transactions worth about N740 million.

He said the discovery raised concerns over transparency and accountability in the management of party funds.

The SDP chairman also alleged that petitions were submitted to the Nigeria Police Force, Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission and the Department of State Services without any concrete action.

He said the party subsequently initiated direct criminal proceedings before the court.

Gabam, Uchechukwu and the party’s National Auditor, Clarkson Nnadi, were suspended by the SDP on June 24, 2025, over allegations of misconduct and financial impropriety.

An independent disciplinary committee later investigated the allegations and submitted its report to the party leadership.

The SDP National Working Committee subsequently adopted the committee’s recommendations and announced the expulsion of Gabam and Uchechukwu over alleged gross misconduct and abuse of office.

The party maintained that the court action was aimed at restoring accountability and discipline within its leadership structure.