N20 illion Kogi Salary Bail-Out Loan: Court fixes October 15 for hearing of applications
Story from Saleh INUWA, Kano
Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos on Tuesday, September 28, 2021, adjourned to October 15th 2021 for hearing of all applications in respect of the Kogi State N20 billion salary bailout account domicile in Sterling Bank Plc.
On August 31st 2021, Justice Tijjani Garba Ringim had ordered the freezing of the account, following an ex-parte application filed by the Economic and Financial Crime Commission (EFCC) moving the application for the interim forfeiture of the funds on August 31st 2021. A O Muhammad counsel to EFCC had urged the court to grant the order so as to prevent further tampering of the funds in the account.
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Muhammad had also told Justice Ringim that the N20 billion loan meant to augment the salary payment and running cost of the government was kept in an interest generating account with Sterling bank. According to him, instead of using the money for the purpose, it was meant for, Sterling Bank Plc allegedly acting on the instruction of the Kogi State Government transferred the money from the loan account and placed it in a fixed deposit account.
Barrister Muhammad had also told the court that the bank is yet to present any credible evidence that the facility was well secured, meaning that the amount in question can be tampered with by agents of the Kogi State Government.
After listening to the applicant’s counsel, Justice Ringim ordered the freezing of account number 0073572696, and also directed the publication of the order in a National Newspaper by EFCC, the commission was also ordered to make a quarterly report to the court on the progress of its investigation.
At the resumed hearing of the matter today, counsel to Kogi State Government Professor Sam Erogbo, SAN, told Justice Aneke, whom the matter was re-assigned to, that his client had filed processes against the interim order granted by Justice Ringim, and that the EFCC had equally filed a reply to the same, Erogbo therefore, told the court that he needed time to respond to EFCC’s counterclaim and also asked for a short date to hear his application.
In his response, Counsel to EFCC Rotimi Oyedepo admitted being served with the processes and added that he had equally filed his counter, consequently, Justice Aneke adjourned the matter to October 15th 2021 for hearing of all the applications.
