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Home » N20bn bailout: Kogi Demands Apology as EFCC Withdraws Case

N20bn bailout: Kogi Demands Apology as EFCC Withdraws Case

by LiveFromNaija Reporter
October 16, 2021
in Finance
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Kogi State Government, Friday demanded an apology from the Economic and Financial Crimes Commission (EFCC) over alleged “embarrassment” of dragging it to court over N20 billion bailout fund.

Newswirengr reports that the Commissioner for Information in Kogi, Mr Kingsley Fanwo, stated the government’s position at the presentation of awards to senior journalists who participated in the GYB Essay Competition for Nigeria’s Political and Crime Editors in Lagos.

It was recalled in the report that the EFCC had on Friday told the court that it was no longer pursuing the case after the state government had given its commitment to return the money to the Central Bank of Nigeria (CBN).

Fanwo said it was unfortunate that the commission ignored thorough explanations by the state government on the matter; but chose to heed allegations from “hired guns”, adding that it was ill-fated that the commission chose to believe allegations that the fixed N19 billion out of the amount in a new generation bank.

Fanwo therefore charged the commission to exhibit professionalism in its affairs, noting, however, that the state government was yet to receive details of the judgement.

According to him, the state government would address the media when it has received the Certified True Copy of the judgment.

Report says the commission withdrew the suit seeking the forfeiture of N20 billion bailout funds granted to the Kogi State Government by a new generation bank.

The money, which was meant for the payment of civil servants was alleged to have been domiciled in an interest-yielding account with the bank by officials of the state government.

Justice Chukwujekwu Aneke granted the order of withdrawal on Friday sequel to a motion filed and argued by EFCC counsel, Mr Kemi Pinheiro (SAN), leading Mr Rotimi Oyedepo.

Pinheiro listed six grounds upon which the judge granted the prayer, adding that “the EFCC is a responsible body”.

One of the grounds was that questions resulting in the commencement of the suit had been clarified, and an intention had been shown to return the sum of N19.4 billion to the Central Bank of Nigeria, the report says.

Tags: Kogi State

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