N20bn Ballout Fund Saga: Kogi Finance Commissioner Visits CBN, Presents Documents Faulting EFCC Claims

Asks CBN to unravel the alleged claims by EFCC

The Kogi State Commissioner for Finance, Budget and Economic Planning, Asiwaju Asiru Idris, has charged the Central Bank of Nigeria (CBN) to thoroughly investigate the Economic and Financial Crimes Commission (EFCC) allegation on the N19.6 billion bailout fund allegedly fixed in a bank by the state government.

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The State Government had threatened to sue EFCC over allegations of mismanagement of a N20 billion bailout loan meant to augment payment of workers salaries.

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Today, the Commissioner of Finance, Budget and Economic Planning, Mukadam Asiwaju Asiru Idris, was at the Central Bank of Nigeria (CBN), the apex and supervising Bank for all financial institutions in the Nation, to submit all documents as regard the bailout loan facility from Sterling Bank, the account status and the details of the disbursement as at october 2019.

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The Commissioner, who said the EFCC may have acted on false information, wanted the CBN to asked critical questions about the returned fund and where it generated from.

According to the Finance Commissioner, “it’s often said that he who upholds and speak the truth is like a lion; fearless, bold and daring, knowing fully well that the truth will prevail regardless the travel time of falsehood.”

While the Commissioner presented all necessary documents that will help unravel the alleged ambiguity created by EFCC and Sterling Bank concerning the alleged N19, 333,333,333.36 in a fixed deposit account and said to have been returned to the apex bank, he charged the CBN to “meticulously investigate the allegation as falsely raised by the EFCC and also look deeply into the books of Sterling Bank for possible infractions” saying the EFCC acted on false information.

The Commissioner said “as at today, considering the procedure involved in opening any account, neither the EFCC, nor the said bank has been able to present to court of public opinion, at least, the mandate from Kogi State Government to open such bailout fixed deposit account in the name of Kogi state, BVN of those that opened it, their phone numbers and the names of personnel that opened the said account. We all know that a fixed account can’t be opened without a mandate from the intended customer, agreement of terms such as tenor to fix, inetrest rate and many more.

“Until Justice is done and truth unclad for the public to see, no retreat no surrender.”

He said nobody can mischievously tarnish the image of the state with corruption allegation and expect us to stay aloof, we won’t only uphold the truth, we will make sure the present Artificial entanglement is dymstified.

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