Wed, Dec

EFCC Returns Kogi Salary Bail-Out Funds

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The Economic and Financial Crimes Commission (EFCC) has returned the N19.33 billion Kogi State bailout funds to the Central Bank of Nigeria (CBN). Wilson Uwujaren, EFCC’s Media Head disclosed that the CBN has confirmed the receipt of the funds. EFCC had earlier alleged that the sum was deposited in an interest yielding account by the Kogi State government officials domiciled in Sterling bank. The Commission moved a motion for the interim forfeiture of the funds to prevent further dissipation of the funds in the account.

In a statement by Uwajaren, the refund aborts the dissipation of the funds and puts an end to further controversies relating to the source and ownership of the funds. Simply put, this development has “effectively put to rest the campaign of misinformation and unconscionable denials by the Kogi State Government that no fund was recovered from its bailout account”.

Reacting to the statement by EFCC, Kogi State Commissioner for information, Mr Kingsley Fanwo who earlier described the allegation as false and laughable said on Friday the latest turn of events has vindicated the state government from the accusation by EFCC.