Nigerian Pilot reliably gathered that Saraki who is also the chairman, Senate committee on environment and ecology was in May 2012 declared wanted by the SFU of the SSS over the allegation that the loan write-off granted to some of his companies, by the former management of the Intercontinental Bank Plc, was fraudulent.

Though, the lawmaker had earlier denied any link with the said companies alleged to have sponsored a multibillion naira loan scam, he subsequently reported at the SFU office Ikoyi, Lagos, for questioning over his alleged role in the fraud and was later released on bail after two hours of interrogation.

Nigerian Pilot reports that the senator is being investigated for a waiver of N9.97 billion granted by the defunct Intercontinental Bank Plc to companies he allegedly promoted while he was governor.

According to the commissioner in-charge of the unit, Mr Tunde Ogunsakin, the companies that enjoyed the waivers are: Joy Petroleum Limited, Skyview Properties Limited, Dicetrade and Limkers Nigeria Limited.

He also disclosed that the controversial waiver of N9.97 billion for which Saraki is being investigated, represents about 82 per cent of loans and facilities granted to the companies in February 2010.

In his reaction, via a telephone conversation with the lawmaker's special adviser on strategy and communication, Mr Akintoba Fatigun, he described the development as a normal thing that happens when general elections approach, saying that the polity is usually characterised with such political intrigues.

He added that, "We however have strong belief in the judiciary as a body that guarantees and assures all citizens of their rights. If the SFU feel like going to court, fine we are sure the judiciary is peopled by respected individuals who are not so blissfully ignorant, they are patient enough to weigh issues and know where political intrigues and character assassination sets in rather than celebrating concocted stories."