The Central Bank of Nigeria has returned the N20billion Kogi workers' salary stolen and hidden by Governor Bello to the bank's vaults Says the EFCC.

 

The Central Bank of Nigeria has returned the N20billion Kogi workers' salary stolen and hidden by Governor Bello to the bank's vaults Says the EFCC.

In a statement, the Economic and Financial Crimes Commission (EFCC) stated that the Central Bank of Nigeria (CBN) had recognized the receipt of the sum of N19,333,333,333, which the commission had recovered from the Kogi State Salary Bail-out account.

SaharaReporters had reported in numerous sources that the controversial N20billion – which was meant for employees' wages in the state – had been hidden away in a commercial bank account by the state government, led by Governor Yahaya Bello, and that the money had been transferred to the account.

According to an EFCC press release on Friday, the Central Bank of Nigeria (CBN) had retrieved the money that had been stashed in its vaults by the Bello government, the agency stated.

According to the Economic and Financial Crimes Commission (EFCC), "The Central Bank of Nigeria (CBN) has acknowledged receipt of the sum of N19, 333,333,333.36 (Nineteen Billion, Three Hundred and Thirty-three Million, Three Hundred and Thirty-three Thousand Naira, Three Hundred and Thirty-three Thousand Naira, Three Hundred and Thirty-three Naira, Thirty-six Kobo) recovered by the

'This effectively brings to an end the campaign of disinformation and outrageous denials by the Kogi State Government that no money had been retrieved from its bailout account.' The Executive Chairman of the EFCC, Abdulrasheed Bawa, was informed that the money had been received by the apex bank in a letter with the reference number DFD/DIR/CON/EXT/01/099 and dated 9th November, 2021.

Among the contents of the letter are the following: "We refer to your letter dated November 5, 2021 with Ref. No. CR:3000/EFCC/LS/CMU/REC-STE/VOL.4/047, on the subject of the foregoing, and we would like to confirm the following data regarding the receipt of the amount: Money is being received by the bank Sterling Bank Plc in the amount of N19,000,000.00; the date of receipt is November 4, 2021."

"The return of the money to the apex bank is in accordance with an Order of a Federal High Court sitting in Ikoyi Lagos on October 15, 2021, which directed the unfreezing of the Kogi State Salary Bail-out account in order for Sterling Bank to remit the balance in the account to the Central Bank of Nigeria. The Order was issued by Justice Chukwujekwu Aneke in response to an application submitted by the Economic and Financial Crimes Commission.

It was stated in court that Sterling Bank Plc, where the account was domiciled, had admitted the existence of said account in its files and that the astonishing figure of N19,333,333.36 was recorded in its books by the Commission.

According to the Commission, "the sum of N19, 333,333,333.36 is still standing in the credit of the account frozen," and that "the management of Sterling Bank PIc, pursuant to an email dated 15 September, 2021, signed by its Managing Director, has indicated intention to return the total sum of N19, 333,333,333.36 back to the Central Bank of Nigeria," the court was informed.

According to an EFCC press release, issued by spokesman Wilson Uwujaren, "The EFCC had prayed the court that it "is expedient for the instant suit to be discontinued and the account unfrozen to enable the management of Sterling Bank PIc effect the transfer/return of the sum of N19, 333, 333.36 back to the coffer of the Central Bank of Nigeria, from where the said bailout funds was disbursed," according to the release.

"As a result of the transfer, any further debate concerning the source and ownership of the cash has been put to rest, and most significantly, the funds have been prevented from being spent." Following an ex-parte suit filed by the EFCC, Justice Tijani Garba Ringim, a vacation Judge, had ordered the freezing of the account on August 31, 2021, following which the account had been frozen.

In a 13-paragraph affidavit in support of the ex parte application, the EFCC stated that it had received credible and direct intelligence that led to the tracing of funds reasonably suspected to be proceeds of unlawful activities in account No. 0073572696 domiciled in Sterling Bank, Plc with the name Kogi State Salary Bailout Account. "

In August 2021, after listening to the EFCC's plea, Justice Ringim ordered the account to be frozen and ordered the EFCC to publish the order in a national newspaper.

Source: Sahara reporters

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