Alleged Bailout: We Don’t Have A Fixed Deposit Account, Kogi Govt Vows To Drag EFCC To Court


Kogi state government on Thursday  vowed to challenge the Economic and Financial Crimes Commission (EFCC) over the recent court action on alleged fraud bothering on a N20 billion bailout fund.

Addressing journalists  in Abuja the state commissioner for information and communication, Kingsley Fanwo  said the state government have no fixed deposit account as claimed by EFCC in court.

The commissioner pointed out that  the action of the anti-corruption agency is an attempt to drag the image of the state in the mud, alleging  that there are vested interests, people who are behind the embarrassing court interim injunction freezing the state’s salary account in a commercial bank.

Speaking further, Fanwo  urged Nigerians to know that the “various news surrounding the alleged conversion of salary bailout funds in Kogi State are fake”, stressing that the allegations and acts are those of malicious men and women employing the machineries of Government to do the bidding of their seen and unseen allies.

According to him “The allegation that the Kogi State Government authorized the opening of a fixed deposit account wherein it deposited the said Bailout loan of N20 billion for the purpose of generating interest for itself is false.

ALSO READ:  Now That Ajaka Sees The Ebira Nation As The Common Enemy To Be Fought By All

“The Kogi State Government gave no mandate or instruction to Sterling Bank Plc to open a fixed deposit account on its behalf as it could barely meet the salary obligations for which the funds were received at the material time.

“Sterling Bank Plc by its letter of 1st September 2021 confirmed in writing that the ‘the Kogi State Government does not currently operate or maintain a fixed deposit account with Sterling Bank.

“The letter proceeded to confirm that all the balances in all the accounts operated by Kogi State Government was approximately N46 Million Naira.

“Finally, the letter confirmed that account number 0073572696 cited in the alleged order of the Court is ‘an internal (mirror) account operated by the Bank for the purposes of managing the Kogi State Bailout Facility’,” he said.

He vowed that the State  Government will seek appropriate redress and will resist most vehemently the instant attempt and any further attempt to bring her into disrepute.

ALSO READ:  Amb. Gabriel Onoja Celebrates 38th Birthday With Ministry Of Mercy Orphanage Home In Lokoja. ----- Presents Essential Items To The Orphans

“We are still shocked as to how the EFCC came about the patently false information upon which they have fraudulently or by misrepresentation of facts secured the purported order freezing a non-existent account or a ‘mirror account’ created for administrative purposes by the Bank in respect of funds which have since the October 2019 been fully disbursed and utilized for the purpose for which it was borrowed.

“We want to put it on record at this point that at no time during this entire concatenation of unfortunate events did the EFCC invite or question, much less seek clarification, from this Government or any of her officials in relation to such weighty matters.

“Also, none of the media houses or platforms which initially broke the news so much as sought a comment from us. No doubt our rights to fair hearing and the nation’s right to fair and accurate reportage did not matter in the circumstances of this shabbily designed but otherwise clinically executed hatchet job.

“This is neither happenstance nor coincidence, but a coordinated hostile action. We remain concerned that a Federal Agency of the calibre and responsibilities of the EFCC which is charged to combat financial fraud is the one engaging in fraud and misrepresentation of facts for the purpose of securing needless Orders meant to ridicule a court of competent jurisdiction while simultaneously attempting to drag the pristine white robes of the most transparent and accountable state government in Nigeria, to with, the Kogi State Government led by His Excellency, Governor Yahaya Bello in their barrel of palm oil.


“While we are yet to conclude on the EFCC’s motive for this dishonourable act, we cannot but wonder if the ‘new’ EFCC is now lending its machineries for the use of politicians and detractors to tarnish the image of a State that has enjoyed the confidence and commendation of domestic and international partners as a bastion of accountability and integrity.”

The state government assured citizens, partners, investors and the general public that its commitment to transparency, probity and accountability in office will remain unrivalled in the country.

Leave a Reply

Your email address will not be published. Required fields are marked *

Call Us Now!