News
Hidden N19.3bn Kogi Salary Bail-Out Funds Returned to CBN
The Central Bank of Nigeria, CBN, has acknowledged the receipt of the sum of N19, 333,333,333.36 (Nineteen Billion, Three Hundred and Thirty-three Million, Three Hundred and Thirty-three Thousand, Three Hundred and Thirty-three Naira, Thirty-six Kobo) recovered the EFCC from the Kogi State Salary Bail-out account domiciled in Sterling Bank Plc.
This effectively puts to rest the campaign of misinformation and unconscionable denials by the Kogi State Government that no fund was recovered from its bail out account.
The apex bank in a letter referenced, DFD/DIR/CON/EXT/01/099 and dated 9th November, 2021 informed the Executive Chairman, EFCC, Abdulrasheed Bawa that it has received the money.
The letter reads in part: “We refer to your letter dated November 5, 2021 with Ref. No: CR:3000/EFCC/LS/CMU/REC-STE/VOL.4/047 on the above subject and wish to confirm the details of the receipt of the amount as stated below: Bank: Sterling Bank Plc; Amount: N19, 333, 333,333.36; Date of receipt: 04 November, 2021”.
The return of the money to the apex bank is in compliance with the October 15, 2021 Order of a Federal High Court sitting in Ikoyi Lagos directing the unfreezing of the Kogi State Salary Bail-out account to enable Sterling Bank to remit the balance in the account to the Central Ban of Nigeria. Justice Chukwujekwu Aneke gave the Order pursuant to an application filed by the EFCC.
The Commission had told the court that the management of Sterling Bank Plc, where the account was domiciled had acknowledged the existence of the said account with the staggering sum of N19, 333,333,333.36 in its books.
The Commission further brought to the attention of the court that “The sum of N19, 333,333,333.36 is still standing in the credit of the account frozen”, adding that “the management of Sterling Bank PIc, has, pursuant to a letter dated 15 September, 2021, signed by its Managing Director, indicated intention to return the total sum of N19, 333,333,333.36 back to the Central Bank of Nigeria.”
The EFCC prayed The court that it “is expedient for the instant suit to be discontinued and the account unfrozen to enable the management of Sterling Bank PIc effect the transfer/ return of the sum of the sum of N19, 333, 333, 333.36 back to the coffer of the Central Bank of Nigeria , where the said bailout funds was disbursed.”
The transfer has put paid to any further controversy regarding source and ownership of the funds and most importantly, aborted the funds dissipation.
On August 31, 2021, Justice Tijani Garba Ringim, a vacation Judge, had ordered the freezing of the account, following an ex-parte application filed by the EFCC.
The EFCC, in a 13-paragraph affidavit in support of the ex-parte application, had stated that it received a credible and direct intelligence, which led to the tracing of the funds reasonably suspected to be proceeds of unlawful activities in account No. 0073572696 domiciled in Sterling Bank, Plc with the name Kogi State Salary Bailout Account.
After listening to the EFCC application, Justice Ringim on August 31, 2021, ordered the freezing of the account and directed the publication of the order in a national newspaper by the EFCC.
Wilson Uwujaren
Head, Media & Publicity
19 November, 2021
The Nigerian Meteorological Agency (NiMet) has forecasted a period of sunshine and haziness from Sunday to Tuesday across the country. According to the weather outlook released on Sunday in Abuja, NiMet predicts sunny skies in a hazy atmosphere over the northern region during this forecast period. The North Central region is also expected to experience sunny skies in a hazy atmosphere.
In the Inland states of the South, NiMet anticipates cloudy skies with spells of sunshine. Coastal cities are expected to have cloudy skies with the possibility of thunderstorms over parts of Edo, Ondo, Imo, Ebonyi, Delta, Bayelsa, Rivers, Akwa Ibom, and Cross River states during the afternoon and evening hours.
Dust haze is foreseen over the northern region on Monday, while the North Central region is expected to experience sunny skies in a hazy atmosphere. The Inland states of the South and coastal cities are predicted to have cloudy skies with spells of sunshine, along with the likelihood of morning mist over Delta, Bayelsa, Lagos, Cross River, and Akwa Ibom. Thunderstorms are expected later in the day over parts of Rivers, Bayelsa, and Akwa Ibom states.
On Tuesday, NiMet forecasts dust haze with a visibility range of 2km to 5 km over the northern region. The North Central region is expected to experience dust haze as well. In the Inland states of the South and coastal cities, cloudy skies with spells of sunshine are anticipated.
NiMet issues a cautionary note about dust particles in suspension and advises the public, especially individuals with respiratory issues, to take necessary precautions. The agency also warns of the potential for moderate to heavy rainfall leading to flash floods and advises the public to exercise caution. Strong winds are likely to precede and accompany thunderstorms, and disaster risk managers, agencies, and individuals are advised to be proactive during the rainy season.
Finally, NiMet advises airline operators to obtain updated weather reports from its office for effective planning in their operations.
Each of the 109 senators in the Federal Republic of Nigeria has contributed their December salaries to assist the victims of the recent bombing incident in Kaduna that occurred last Sunday. The Deputy President of the Senate, Senator Barau I. Jibrin, made this announcement on Sunday during a visit to the Kaduna State Government House, leading a prominent delegation of Senate members. The delegation was welcomed at the Government House by Governor Uba Sani. Further information will be provided soon.
The 64th Ordinary Session of the Economic Community of West African States (ECOWAS) Heads of State and Government is currently taking place in Abuja, Nigeria. President Bola Tinubu of Nigeria is set to chair the session, which is being attended by leaders from the 15-member block.
According to reports from the News Agency of Nigeria (NAN), countries such as Ghana, Liberia, and Sierra Leone have already gathered at the venue, the Banquet Hall of the Presidential Villa in Abuja. Other member states present include Benin, Gambia, Togo, Cape Verde, and Senegal.
In addition to the Heads of State and Government, the meeting is being attended by the ECOWAS Commission and other stakeholders, including former President Goodluck Jonathan, the U.S. Lead diplomat for Africa, Molly Phee, the African Union (AU), and the UN Secretary-General Special Representative for West Africa and the Sahel, Leonardo Simao.
The agenda for the end-of-year meeting includes a comprehensive review of decisions and agreements previously made by the body. This encompasses topics such as the adoption of the ECO as a common currency for the region. The regional body will also deliberate on issues such as the recent coup d’etats in Niger, Burkina Faso, Mali, and Guinea.
Furthermore, the meeting will address concerns related to climate change, democracy, bilateral relations, and the African Continental Free Trade Agreement.
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