The Economics and Financial Crimes Commission (EFCC) says it has returned the N19.3 billion bailout funds allegedly hidden in Sterling bank by the Kogi State Government to the Central Bank of Nigeria (CBN).
Spokesperson of the commission, Wilson Uwujaren, disclosed this in a statement on Friday.
The commission had in October freezed the account of the state government after it alleged that about N20 billion belonging to the state government was secretly hidden in a Sterling Bank account.
Kogi state, however, denied the allegation, and accused EFCC of mischief.
The matter was take to an High Court in Lagos, and after intervention by the presidency the EFCC was directed to withdraw the matter.
The court also directed the EFCC to unfreeze the account.
“The Central Bank of Nigeria, CBN, has acknowledged the receipt of the sum of N19, 333,333,333.36 recovered the EFCC from the Kogi State Salary Bail-out account domiciled in Sterling Bank Plc. This effectively puts to rest the campaign of misinformation and unconscionable denials by the Kogi State Government that no fund was recovered from its bail out account,” the EFCC statement said on Friday.
“The apex bank in a letter referenced, DFD/DIR/CON/EXT/01/099 and dated 9th November, 2021 informed the Executive Chairman, EFCC, Abdulrasheed Bawa that it has received the money.”
“The return of the money to the apex bank is in compliance with the October 15, 2021 Order of a Federal High Court sitting in Ikoyi Lagos directing the unfreezing of the Kogi State Salary Bail-out account to enable Sterling Bank to remit the balance in the account to the Central Bank of Nigeria. Justice Chukwujekwu Aneke gave the Order pursuant to an application filed by the EFCC.”
