ALLEGED 20B KOGI BAILOUT FUND: We are surprised at EFCC’s allegations says management of Sterling Bank, as Kogi government threaten legal action against EFCC

ALLEGED 20B KOGI BAILOUT FUND: We are surprised at EFCC’s allegations says management of Sterling Bank, as Kogi government threaten legal action against EFCC

September 2nd, 2021

The Hon. Commissioner of Finance,Budget and economic planning in kogi state, Asiwaju Asiru  in a press statement  issued September 2, 2021 briefs the press on the alleged transactions with sterling bank by the kogi state government which necessitated the anti-graft agency, EFCC to freeze the kogi state government account.

The EFCC had alleged that the Yahaya Bellogovernment has over N20 billion salary bailout funds said to be in fixed deposit at the commercial bank.

While reacting to this, the hon commissioner stated the action of the anti-graft agency was meant to malign the integrity of the state governor, Yahaya Bello as the state government does not currently operate or maintain a fixed deposit account with sterling bank.

In a letter addressed to the bank, the hon com. demanded that the bank provide the state government’s mandate letter to open the alleged fixed deposit account, the unused balance if any in the kogi state salary bailouts accounts as at 31st aug, 2021.

‘we are quite perplexed and at the same time dissatisfied as a state how our mutual business dealing as regards the opening of an account named kogi state salary bailout account and the 20bn credit facility we applied for and subsequently approved by the bank through memorandum of acceptance became a public issue of sort’ he said

The sterling bank while responding to the letter disclosed that the kogi state govt does not operate a fixed deposit account with the bank and there is no mandate letter from the government to open an account with the number 0073572696 to that effect adding that the bank is equally bewildered at media’s reportage of the events surrounding the transactions.

 

TOLULOPE HINMIKAIYA, Abuja

 

 

 

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