N19.3bn hidden bailout fund: Gov Bello fights back, Kogi Govt issues EFCC 48-Hour ultimatum to retract statement

Governor Yahaya Bello of Kogi State is not leaving any stone unturned to ensure the state government is cleared from the controversial N19.3 billion the Economic and Financial Crimes Commission (EFCC) alleged was salary bailout fund from the federal government to the state but was purportedly hidden in Sterling Bank Plc. by the Kogi government. EFCC last week issued a statement that the N19.3 billion had been returned to the Central Bank of Nigeria (CBN).

Kogi State Government on Sunday issued the EFCC an ultimatum of 48 hours to apologise to the state government and retract the statement that Kogi State kept about N20 billion salary bailout fund in a commercial bank account for interest.

The Kogi State Commissioner for Information and Strategy, Kingsley Fanwo, at a media briefing in Lagos on Sunday, emphasized that Kogi State did not open or operate the said account in Sterling Bank. Fanwo demanded the EFCC to prove its allegation by making public the account mandate and details of operators of the account.

The Kogi State government threatened that after the 48 hours ultimatum, the state will take the EFCC to court.

The commissioner had declared in part: “I want to assure you that after 48 hours from today, if they refuse to retract their ill-fated, false, politically motivated, irresponsible press statement, we will drag them to court.”

The Kogi State government disclosed that the state is in possession of the response of the bank, which was said to exonerate the government from operating the controversial bank account. The state government insisted that it has sufficient evidence to pursue its suit against the EFCC in court.

The commissioner maintained that Kogi State does not operate any fixed deposit account with Sterling Bank, nor did the state issue any mandate letter to that effect.

Fanwo had declared: “The Kogi State government does not currently operate or maintain a fixed-deposit account with Sterling Bank.

 “There is no mandate letter from the Kogi State Government to open account number 0073572696 with Sterling Bank. Sterling Bank account 0073572696 is an internal mirror account operated by the bank for purposes of managing the Kogi State Salary Bailout facility.”

The EFCC had in repeated statements alleged that the Kogi government hid N19.3 billion in Sterling Bank, upon which the commission filed a suit in court. The suit was withdrawn, thereafter, the commission followed up the matter and returned the said fund to the CBN from where it was disbursed.

Kogi State government had consistently denied ownership of the N19.3 billion the EFCC said it discovered hidden in Sterling Bank PLC.