NewsEFCC Withdraws Forfeiture Order On N20b Bailout Funds For Kogi State

EFCC Withdraws Forfeiture Order On N20b Bailout Funds For Kogi State

October 15, (THEWILL) – The Economic and Financial Crimes Commission (EFCC) has withdrawn its suit seeking the forfeiture of N20 billion bailout funds granted to the Kogi State Government by Sterling Bank.

The money, which was meant for the payment of Kogi workers, was alleged to have been domiciled in an interest-yielding account with the bank by officials of the state government.

Following a motion filed and argued by EFCC counsel, Kemi Pinheiro (SAN), on Friday, Justice Chukwujekwu Aneke granted the order of withdrawal of the suit against the Kogi State Government

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Pinheiro listed six grounds upon which the judge granted the prayer, adding that “the EFCC is a responsible body”.

One of the grounds was that questions resulting in the commencement of the suit had been clarified, and an intention had been shown to return the sum of N19,333,333,333.36 to the Central Bank of Nigeria (CBN).

“I have listened to the submission of the learned Silk for the application, Mr Kemi Pinheiro SAN vis-a-vis perused the motion to withdraw. My humble opinion is that application is meritorious and ought to be granted. Accordingly, the application is granted as prayed”, the court held.

Justice Tijjani Ringim had on August 31, granted an ex-parte application brought by the EFCC for an interim forfeiture of the N19, 333, 333, 333.36 billion, said to be warehoused in the State’s account number.

Ringim had granted the order of interim forfeiture after taking arguments from the EFCC’s counsel, Abbas Muhammed.

The judge had ruled that the order was pending the conclusion of an investigation or possible prosecution by the EFCC.

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