EFCC Returns N19.3bn Kogi Salary Bailout ‘Hidden’ in Bank to CBN

• The EFCC said the N19.3 billion bailout fund allegedly hidden by the Kogi state government has been returned to the CBN
• The agency had earlier accused the Kogi government of putting the money meant for the payment of workers' salaries in an interest-yielding account
• EFCC's spokesman said CBN's acknowledgement of receiving the money has put to rest the Kogi state government's denial that no fund was recovered from its bail out account

FCT, Abuja - The Economics and Financial Crimes Commission (EFCC) says it has returned the N19.3 billion bailout funds allegedly hidden by the Kogi state government to the Central Bank of Nigeria (CBN).

Recall that the anti-graft agency had earlier stated the money meant for the payment of salaries of the state workers was domiciled in an interest-yielding account with a Sterling Bank.

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The Kogi state government, however, denied hiding the money.

CBN acknowledges receipt of N19.3bn

In a statement released on Friday evening, November 19, by its spokesman, Wilson Uwujaren, the EFCC said the CBN has acknowledged the receipt of the sum of N19.3 billion which it recovered from the Kogi state salary bail-out account domiciled in the bank.

The agency said the development put to rest "the campaign of misinformation and unconscionable denials by the Kogi State Government that no fund was recovered from its bail out account."

Legit.ng gathers that the apex bank in a letter dated Tuesday, November 9, informed the EFCC's chairman, Abdulrasheed Bawa, that it has received the money.

Return in compliance with court order

The EFCC also explained that the return of the money to the apex bank is in compliance with a court order which directed the unfreezing of the Kogi state salary bail-out account to enable the bank to remit the balance in the account to the CBN.

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The commission said it had told the court that the management of Sterling Bank Plc, where the account was domiciled had acknowledged the existence of the said account with N19.3 billion.

It also explained the suit against the Kogi state government was discontinued and the account unfrozen to enable the bank effect the transfer/ return of the money back to the coffer of the CBN where the said bailout funds was disbursed.

The EFCC said:

"The transfer has put paid to any further controversy regarding source and ownership of the funds and most importantly, aborted the funds dissipation."

Nigerians react on Facebook

Ojengbede Abdulkabir commented:

"All praises be to Allah. This is one of the result that will make Nigerians happy. Fighting corruption without keeping some sacred cows. Immediate justice is what makes conviction of corrupt politicians meaningful to the masses."

Daniel Adukwu said:

"Weldon EFCC, but a refund should not stop the prosecution. The act of fixing the said amount into Sterling bank is a crime against its purpose of disbursement and humanity.

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"Some civil servants in Kogi state have committed suicide as a result of unpaid salaries. For this reason, the EFCC should not stop at this level."

Don Reubs Daniel said:

"Mr Bawa and his team are really working hard to sanitize the country from LOOTERS in power! How I desire to work with you guys..

"More Grace to you all at EFCC!!"

Kadiri Aloye said:

"EFCC should go after those politicians who want to use the common man salary to do election...."

Vincent Bendito Solomon said:

"When will you visit Abia State? It look like that State does not get federal allocation. Pls visit and check all what the past Governors did with the state's Money. I wonder how they manage to be walking freely after their actions led to the death of Many."

Disclose owner of ‘missing money’, Governor Bello challenges EFCC

Meanwhile, the Kogi state governor, Yahaya Bello, hass on Sunday, October 17, challenged the EFCC to disclose the owner of the N19.3 billion bail-out funds.

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Governor had made the statement after the EFCC announced the withdrawal of the suit against the state.

In a statement by the Kogi state commissioner for information and communication, Kingsley Fanwo, the governor alleged that the anti-graft agency was concealing some facts that were important to the general public.

Source: Legit.ng