• Latest
  • Trending
EFCC Invaded Federal Court With 13-paragraph affidavit in support of the ex-parte motion against Kogi state government.

EFCC Invaded Federal Court With 13-paragraph affidavit in support of the ex-parte motion against Kogi state government.

August 31, 2021
KOGI GUBER RACE: I Can’t Leave Asiwaju Bola Tinubu Now- Faleke

KOGI GUBER RACE: I Can’t Leave Asiwaju Bola Tinubu Now- Faleke

March 26, 2023
Stop Peddling Falsehood, Test Your Popularity At Primaries, Kogi East APC Warns Muri Ajaka

Stop Peddling Falsehood, Test Your Popularity At Primaries, Kogi East APC Warns Muri Ajaka

March 26, 2023
PDP suspends Iyorchia Ayu for not voting in the last gubernatorial election

PDP suspends Iyorchia Ayu for not voting in the last gubernatorial election

March 26, 2023
Unbecoming of FFK: UK condemns APC, Femi Fani-Kayode over threat to make Nigeria “ungovernable;” says 10 politicians on sanction list

Unbecoming of FFK: UK condemns APC, Femi Fani-Kayode over threat to make Nigeria “ungovernable;” says 10 politicians on sanction list

March 26, 2023
Tinubu’s drug business was over 10 years ago; he can be president now: Bayo Onanuga

Tinubu’s drug business was over 10 years ago; he can be president now: Bayo Onanuga

March 26, 2023
Just in Capt. Wada loses Chief of Staff,  Pharmacist Nasir Isah Adebu

Just in Capt. Wada loses Chief of Staff, Pharmacist Nasir Isah Adebu

March 26, 2023
Peter Obi: They Call Us Social Media party But We Came To Lagos, Beat The Godfather – LP Campaign Council

Peter Obi: They Call Us Social Media party But We Came To Lagos, Beat The Godfather – LP Campaign Council

March 26, 2023
We’ll Make Nigeria Ungovernable If Tinubu Is Not Sworn-in — Fani-Kayode Thre^atens

We’ll Make Nigeria Ungovernable If Tinubu Is Not Sworn-in — Fani-Kayode Thre^atens

March 26, 2023
Kogi Guber:  Don’t Become A Tribal Demagogue, Smart Adeyemi Warns Bello Against Working For Another Ebira Candidacy.

Kogi Guber: Don’t Become A Tribal Demagogue, Smart Adeyemi Warns Bello Against Working For Another Ebira Candidacy.

March 25, 2023
My Purported Suspension A Nullity – Kogi Governorship Aspirant Muritala Yakubu Dares His Opponents

My Purported Suspension A Nullity – Kogi Governorship Aspirant Muritala Yakubu Dares His Opponents

March 25, 2023
BREAKING: Imo Labour Party Governorship Aspirant Found Dead

BREAKING: Imo Labour Party Governorship Aspirant Found Dead

March 25, 2023
We Are Okay With OPAY: CBN clears air on suspending accounts of OPAY, PALMPAY other fintechs

We Are Okay With OPAY: CBN clears air on suspending accounts of OPAY, PALMPAY other fintechs

March 25, 2023
ADVERTISEMENT
  • Contact
  • Africa
  • Coronavirus
  • Documentaries
  • Local news
  • News
Sunday, March 26, 2023
29 °c
Abuja
Mon
Tue
Wed
Thu
  • Login
Observer Times
  • Home
  • Politics
  • Business
  • Nation
  • Opinion
  • Crime
  • Entertainment
  • Inside Story
  • Sports
  • Tech
  • World
No Result
View All Result
  • Home
  • Politics
  • Business
  • Nation
  • Opinion
  • Crime
  • Entertainment
  • Inside Story
  • Sports
  • Tech
  • World
No Result
View All Result
Observers Times
No Result
View All Result
Home Latest

EFCC Invaded Federal Court With 13-paragraph affidavit in support of the ex-parte motion against Kogi state government.

admin by admin
August 31, 2021
in Latest
0
EFCC Invaded Federal Court With 13-paragraph affidavit in support of the ex-parte motion against Kogi state government.
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT

 

A Federal High Court in Lagos on Tuesday froze a Kogi salary bailout account domiciled in a new generation bank over a N20 billion loan obtained from the bank.

RELATED POSTS

My Purported Suspension A Nullity – Kogi Governorship Aspirant Muritala Yakubu Dares His Opponents

We Were Mislead Into Signing Muri Ajaka Suspension Letter- APC Ajaka Lay To Rest Controversy Around Muri Suspension.

Justice Tijjani Garba Ringim made the order pending the conclusion of an investigation or possible prosecution by the Economic and Financial Crimes Commission (EFCC).

Trending
Breaking : Kogi State APC Suspend Muri Yakubu For Alleged Anti-Party Activity.

The agency approached the court via an ex-parte application brought pursuant to Section 44(2) of the Constitution and Section 34(1) of the EFCC Act.

Its counsel, Mr A. O. Muhammed, informed the court that the order was necessary to preserve the res and abate further dissipation of the funds in the account.

Moving the application, Muhammed alleged that the N20b loan was meant to augment the salary payment and running cost of the state government but was kept in an interest yielding account with the bank.

He added that instead of using the money for the purpose it was meant for, the Kogi State Government instructed the bank to transfer the money from the loan account and place same in a fixed deposit account.

According to the agency, the bank is yet to present any credible evidence to show that the facility is well secured.

Granting the application, Justice Ringim ordered the EFCC to publish the order in a national newspaper and make a quarterly report to the court on the progress of its investigation.

The judge adjourned the matter till December 1, for the report of Investigation.

The EFCC’s allegations were made in its 13-paragraph affidavit in support of the ex-parte motion deposed to by a member of a team of investigators attached to the Chairman Monitoring Unit Lagos of the EFCC.

The document averred that the Commission received credible and direct intelligence which led to the tracing of funds reasonably suspected to be proceeds of unlawful activities warehoused in the account with the name Kogi State Salary Bailout Account

He said the Commission acted on the said intelligence and assigned same to the Chairman Monitoring Unit, where it was discovered that on April 1, 2019, the management approved an offer of an N20billion bailout loan facility for the Kogi State Government.

According to the deponent, on June 19, 2019, fiscal year, the Kogi State Government, Ministry of Finance and Economic Development, Office of the Commissioner, applied for a credit facility of N20billion with an interest rate of nine per cent for a tenure of 240 months from the bank”.

The agency added that the said facility was meant to augment the salary payment and running cost of the state government.

It stated further that on June 26, 2019, the credit facility offer was accepted vide a memorandum of acceptance signed by Governor Alhaji Yahaya Bello, Asiwaju Idris Asiru, the Commissioner of Finance Kogi State; and one Alhaji Momoh Jibrin, Accountant General, Kogi State.

It averred that before the said application for a loan, the Kogi State Government on the 19th June 2019 vide a letter to the Manager of the bank in Lokoja applied for an account opening in the Bank with the name Kogi State Salary Bailout Account with Alhaji Momoh Jubril, Accountant General of the State and Elijah Evinemi Ag. Director Treasury as the signatories to the said account.

“That upon the opening of the said account disbursed salary intervention loan to the tune of N20billion to the account.

“That rather than use the intervention funds for the purpose for which it was granted, the State Government proceeded to open a fixed deposit account No. 0073572696.

“That on the 25 day of July 2019, the bank acting on the instruction of the Kogi State Government transferred the money from the loan account and placed same on the aforementioned fixed deposit account.

“That the said account sought to be frozen received the sum of twenty billion naira, (N20, 000,000,000) on the 25th July 2019.

“That as of 1st day of April 2021 the balance standing to the credit of the said fixed deposit account was N19,333,333,333.36 billion

“That we are still tracing what the sum of N666,666,666.64 billion, has been deducted from the said funds and were not used for the payment of the salary.

“That the Commission has the statutory mandate to prevent the Commission of economic and financial Crimes with the shores of the Federal Republic of Nigeria.

“That investigation in this matter is still ongoing and this application is pertinent to secure the funds in the said account to prevent them from being totally dissipated.

“That without freezing the nominated accounts, there is no better way of preserving res”.

Related

SendShareTweetSend
ADVERTISEMENT
admin

admin

Related Posts

My Purported Suspension A Nullity – Kogi Governorship Aspirant Muritala Yakubu Dares His Opponents

My Purported Suspension A Nullity – Kogi Governorship Aspirant Muritala Yakubu Dares His Opponents

by admin
March 25, 2023
0

A frontline governorship aspirant from Kogi East on the platform of the All Progressives Congress (APC) in the forthcoming governorship...

We Were Mislead Into Signing Muri Ajaka Suspension Letter- APC Ajaka Lay To Rest Controversy Around Muri Suspension.

We Were Mislead Into Signing Muri Ajaka Suspension Letter- APC Ajaka Lay To Rest Controversy Around Muri Suspension.

by admin
March 24, 2023
0

Ajaka Ward 1 APC executives lay to rest controversy around the suspension of Muri from the party, saying signatures were...

Obidient’ Movement Helped Me Win FCT Senate Seat – Ireti Kingibe

Obidient’ Movement Helped Me Win FCT Senate Seat – Ireti Kingibe

by admin
March 24, 2023
0

‘The senator-elect for the Federal Capital Territory, Ireti Kingibe, of the Labour Party, has said that the ‘Obidient’ movement helped...

APC approves direct mode for conduct of gubernatorial primary election in Kogi state.

APC approves direct mode for conduct of gubernatorial primary election in Kogi state.

by admin
March 23, 2023
0

The All Progressives Congress (APC), has approved direct mode for the conduct of gubernatorial primaries in Kogi State for aspirants...

INEC resumes Abia governorship poll results collation Wednesday

INEC resumes Abia governorship poll results collation Wednesday

by admin
March 22, 2023
0

The Independent National Electoral Commission will resume the collation of the Abia State governorship election on Wednesday (today). The electoral...

Next Post
Just In: ISWAP claims killing 10 Nigerian soldiers, seizing cache of arms, ammunition in Rann

Just In: ISWAP claims killing 10 Nigerian soldiers, seizing cache of arms, ammunition in Rann

Insecurity: Niger Government Suspends Cattle Markets, direct filing stations on how much fuel a car can buy.

Insecurity: Niger Government Suspends Cattle Markets, direct filing stations on how much fuel a car can buy.

RECOMMENDED

KOGI GUBER RACE: I Can’t Leave Asiwaju Bola Tinubu Now- Faleke

KOGI GUBER RACE: I Can’t Leave Asiwaju Bola Tinubu Now- Faleke

March 26, 2023
Stop Peddling Falsehood, Test Your Popularity At Primaries, Kogi East APC Warns Muri Ajaka

Stop Peddling Falsehood, Test Your Popularity At Primaries, Kogi East APC Warns Muri Ajaka

March 26, 2023

Warning: Trying to access array offset on value of type bool in /home/gvcicpfqvmip/public_html/wp-content/themes/jnews/class/Widget/Normal/Element/SocialCounterWidget.php on line 649
  • 649 Followers

MOST VIEWED

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
Observers Times News

We bring you the best reportage that is perfect for credible news in politics, business, sports, entertainment and many more...

CATEGORY

  • Africa
  • Apps
  • Business
  • Coronavirus
  • Crime
  • Documentaries
  • Education
  • Entertainment
  • Fashion
  • Featured
  • Food
  • Gadget
  • Gaming
  • Health
  • Inside Story
  • Jobs
  • Judiciary
  • Latest
  • Life style
  • Lifestyle
  • Local news
  • Mobile
  • Movie
  • Music
  • Nation
  • News
  • Opinion
  • Politics
  • Politics1
  • Research
  • Review
  • Science
  • Sports
  • Startup
  • Stories
  • Tech
  • Travel
  • Uncategorized
  • USA
  • World
August 2021
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Jul   Sep »
  • Contact
  • Africa
  • Coronavirus
  • Documentaries
  • Local news
  • News

© 2021 Observers Times - (c) 2021 All Rights Reserved.

No Result
View All Result
  • Home
  • Politics
  • Nation
  • Crime
  • Inside Story
  • Opinion
  • Entertainment
  • Sports
  • Contact

© 2021 Observers Times - (c) 2021 All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In