EFCC moves to recover diverted N20b Kogi salary loan - OPID News

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Tuesday, 28 September 2021

EFCC moves to recover diverted N20b Kogi salary loan

 EFCC moves to recover diverted N20b Kogi salary loan

Yahaya Bello

A N20 Billion loan secured by the Kogi state government to pay workers was diverted into an interest yielding account by officials of government.

The EFCC which got wind of the money and was suspicious is now seeking a court order to freeze it and return it to the Federal government coffers.

Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos, on Tuesday, September 28, 2021 adjourned till 15 October 2021 hearing of all applications in respect of the money.

The money was banked at Sterling Bank, with the account name`; Kogi State salary bail-out account.

On 31 August 2021, Justice Tijani Garba Ringim had ordered the freezing of the account, following an ex-parte application filed by the Economic and Financial Crimes Commission, EFCC.

The EFCC, in a 13-paragraph affidavit in support of the ex-parte application, said the money was reasonably suspected to be proceeds of unlawful activities in an account No. 0073572696 domiciled in Sterling Bank, Plc with the name Kogi State Salary Bailout Account.

Moving the application for the interim forfeiture of the funds on August 31, 2021, A. O. Mohammed, counsel to the EFCC, urged the court to grant the Order to prevent further dissipation of the funds in the account.

Mohammed had also told Justice Ringim that the N20 billion loan meant to augment the salary payment and running cost of the government was kept in an interest-yielding account with the Bank.



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