The EFCC has withdrawn a legal suit filed against the Kogi State government. The anti-graft agency took this step after the state agreed to forfeit a N20 billion bailout fund to the Central Bank. The fund was meant for workers salary in the state, but instead domiciled in an interest-yeilding account with a bank.
The EFCC had filed an application in the court and the N20 billion fund had been frozen. But with the agreement to forfeit, the agency said the bank account holding the fund can be unfrozen. The agency further stated that the case was to be withdrawn on six grounds.
Representing the EFCC, Kemi Pinheiro (SAN), made the withdrawal application before Justice Chukwujekwu Aneke who granted the request. Pinheiro said all questions relating to the bailout fund has been resolved and that the money is set to be returned to the CBN, necessitating a discontinuance of the litigation.
“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,” Justice Aneke stated. “My humble opinion is that application is meritorious and ought to be granted. Accordingly, the application is granted as prayed.”
The bailout fund was warehoused with an unnamed bank with the account number 0073572696 and account name Kogi State Salary Bailout Account. The agreement to refund the money to the CBN was confirmed by the bank’s managing director in a letter dated September 21, 2021.
