The Economic and Financial Crimes Commission (EFCC) has approved the return of N19.33 billion Kogi State bailout funds to the Central Bank of Nigeria (CBN).
In a statement by the Commission’s spokesperson, Mr Wilson Uwajaren, he mentioned the refund aborts dissipation of the funds and puts an end to further controversies relating to the source and ownership of the funds, News Agency of Nigeria reports.
Reacting to the statement by EFCC, Kogi State Commissioner for information, Mr Kingsley Fanwo on Friday said the statement vindicates the state government from the accusation by EFCC.
The EFCC had instituted a suit marked: FHC/1/CS/1086/2021 against the Kogi State government seeking to freeze its account with bank account number 0073572696.
EFCC had 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
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