Alleged N20bn bailout: Kogi govt. reacts, gives EFCC 48-hour ultimatum to apologise

The Kogi state government has given a 48-hour ultimatum to the Economic and Financial Crimes Commission (EFCC) to apologise and retract a ‘malicious’ statement that it kept N20 billion bailout fund meant to pay salaries in a commercial bank meant to yield interest.

The state’s Commissioner for Information, Kingsley Fanwo, in a briefing, on Sunday, in Lagos said the state government did not open or create the said account.

“I want to assure you that after 48 hours from today, if they refuse to retract their ill-fated, false, politically motivated, irresponsible press statement, we will drag them to court,” the commissioner said.

Fanwo, also challenged the Commission to produce the account mandate and details of those who operated the account.

Meanwhile, the Kogi state government, had earlier said it has gotten the bank’s response which exonerated them from running the account.

According to the state, the government has enough evidence against the EFCC to have a field day in court.

“The Kogi State government does not currently operate or maintain a fixed-deposit account with Sterling Bank.

“There is no mandate letter from the Kogi State Government to open account number 0073572696 with Sterling Bank. Sterling Bank account 0073572696 is an internal mirror account operated by the bank for purposes of managing the Kogi State Salary Bailout facility,” the Commissioner said

The EFCC in a 13-paragraph affidavit in support of an exparte application has stated that it received a credible and direct intelligence which led to the tracing of the fund reasonably suspected to be proceeds  of unlawful activities of accounts domiciled in Sterling Bank.