Senator Bukola Saraki last night reacted to the arrest of former Managing Director of Intercontinental Bank, Mr. Mamoud Alabi over allegations of fraud.

Saraki, in a statement by his media aide Akintoba Fatigun, said he had no link with Joy Petroleum mentioned in a petition.

The statement reads: "The attention of Senator Abubakar Bukola Saraki's media office has been drawn to a media report titled: "Police Nab Former managing Director of intercontinental Bank, Alhaji Layi Alabi over bank loan fraud relating to Senator Saraki",

"We are aware that there is a petition that was submitted by the brother to Senator Saraki's former Personal Assistant Mattew Obahor of blessed memory to the special anti-fraud unit of Nigerian police over a company called Joy Petroleum.

We want to categorically state that Senator Saraki is not and was never a shareholder of any Joy Petroleum company; the company was that of his formal Personal Assistant, Late Mattew Obahor. 

"Unlike it is being insinuated that Mattew was assassinated under questionable circumstances, we want to state categorically that Mattew was a diagnosed diabetic who was flown to different parts of the world by Senator Saraki for treatments but later gave up his battle to Diabetics after 10 years of battling the disease. He died in 2010 through diabetic coma in a hospital. Records are available which can support this.

We are also aware that this matter as related to loans with Intercontinental Bank which was thoroughly investigated and thrashed out by all appropriate authorities years back after receiving all manner of investigation. It should be recalled that it reoccurred during Senator saraki's presidential bid and again thrashed out and we are once again surprise it is resurfacing.

"The attempt to link this baseless petition to Senator Saraki is purely a blackmail and character assassination; it is surprising that we are coming back to this again in 2012 which is a distraction and the timing is very questionable.

"Senator Saraki continues to reassure his constituents and country that he will play his legislative role even at this crucial time of our polity."