N20bn Bail-out Loan:High Court Freezes Kogi State Salary Account

The federal High Court sitting in Lagos on Tuesday has ordered the freezing of Kogi State salary bailout account number 0073572696 domiciled in Stealing Bank Plc over a N20 billion loan obtained from the Bank.

Justice Tijjani Garba Ringim made the freezing order of the said account pending the conclusion of investigation or possible prosecution by the Chairman, Economic and Financial Crimes Commission (EFCC).

EFCC had approached the court for the order in an ex-parte application  brought pursuant to section 44(2) of the Constitution and section 34(1) of the Economic and Financial Crimes Commission Act and under the inherent jurisdiction of the court.

A counsel from the agency, A. O. Mohammed, informed the court that the order was necessary so as to  preserve the res and abate further dissipation of the funds in the account.

Moving the application, Mohammed  told the court that the N20 billion loan meant to augment the salary payment and running cost of the State Government was kept in an interest yielding account with Sterling bank.

He added that instead of using the money for the purpose it was meant for, Sterling Bank Plc acting on the instruction of the Kogi State Government transferred the money from the loan account and placed same in a fixed deposit account.

He stated that Sterling Bank Plc is yet to present any credible evidence to show that the facility is well secured.

Granting the application, Justice Ringim ordered the EFCC to publish the order in a national newspaper and made quarterly report to the court on the progress of it’s investigation.

The judge consequently adjourned the matter till December 1, for the report of Investigation.

The EFCC in its 13-paragraph affidavit in support of the ex-parte originating summons deposed to by a member of a team of investigators attached to the Chairman Monitcring Unit Lagos of the EFCC, stated that the Commission received a credible and direct intelligence which led to the tracing of funds reasonably suspected to be proceeds of unlawful activities warehoused in account No. 0073572696 domiciled in Sterling Bank, Plc with the name Kogi State Salary Bailout Account

He said the Commission acted on the said intelligence and assigned same to the Chairman Monitoring Unit, where it was discovered that on the  April 1, 2019 the management of Sterling Bank Pic approved an offer of N20,000,000,000.00 bailout loan facility for Kogi State Government.

According to the deponent, on the June 19, 2019 fiscal year, the Kogi State Government, Ministry of Finance and Economic Development, office of the Honourable Commissioner, applied for Credit facility of Twenty Billion Naira N 20, 000,000,000, with an interest rate of 9 percent for a tenure of 240 months from Sterling Bank Plc”.

He added that the said facility was meant to augment the salary payment and running cost of the State Government.

He stated further that on June 26, 2019 the credit facility offer was accepted vide a memorandum of acceptance signed by the His Excellency, Yahaya Bello, the Executive Governor of Kogi State, Asiwaju Asiru idris, the Commissioner of Finance Kogi State and one Alhaji Momoh Jibrin, Accountant General, Kogi State.

He stated that prior to the said application for loan, Kogi State Government on the 19th June, 2019 vide a letter to the Manager Sterling Bank Plc, Lokoja applied for an account opening in the Bank with the name Kogi State Salary Bailout Account with Alhaji Momoh Jubril, accountant General of the State and Elijah Evinemi Ag. Director Treasury as the signatories to the said account. Attached and marked exhibit EFCC 04 is a copy of the said letter.

“That upon the opening of the said account with No. 0072969301, Sterling bank Plc disbursed salary intervention loan to the tune of N20,000,000,000.00 to the account.

“That rather than used the intervention funds for the purpose for which it was granted, the State Government proceeded to open a fix deposit account No. 0073572696.

“That on the 25 day of July,2019 Sterling Bank Plc acting on the instruction of the Kogi State Government transferred the money from the loan account and placed same on aforementioned fixed deposit account.

“That the said Account sought to be frozen received the Sum of Twenty Billion Naira, (N20, 000,000,000) on the 25th July 2019.

“That as at 1st day of April, 2021 the balance standing to the credit of the said fixed deposit account was N19, 333, 333, 333.36 billion

“That we are still tracing what the sum of N666,666,666.64 b has been deducted from the said funds and were not used for the payment of the salary.

“That the Commission has the statutory mandate to prevent the Commission of economic and financial Crimes with the shores of the Federal Republic of Nigeria.

“That investigation in this matter is still ongoing and this application is pertinent to secure the funds in the said account to prevent them from being totally dissipated.

“That without freezing the nominated accounts, there is no better way of preserving res”

Nigerians Suffering Poverty And Insecurity Under Buhari – Yahaya Bello

Governor Yahaya Bello of Kogi State has stated that what Nigerians need in 2023 is someone who can unity the security and tackle Insecurity.

The governor called for the jettisoning of zoning, stressing that such is not found in the constitution of the All Progressives Congress (APC) or the 1999 constitution.

Speaking in an interview with Daily Trust published on Sunday, the APC chieftain stated that today there is poverty everywhere and insecurity is almost everywhere.

According to him, if the Peoples Democratic Party, PDP, which has been tagged a failure had practice zoning, then the ruling APC should not follow such part.

He lsaid: “I have gone through our party’s constitution and did not see where zoning of the presidency is stated. I do not know of any party’s constitution where zoning is stated. I have also read the 1999 constitution of the Federal Republic of Nigeria (as amended) and did not see where zoning was mentioned. So we should not import what is not in the constitution.

“If a party like the Peoples Democratic Party (PDP), which we say did not govern this country properly, practised it and it seemingly did not work, why should we consider it? We are practising democracy, and from what we know, zoning is against its principle. It is purely about number and merit.”

Yahaya Bello urged the ruling party to simply look at who can do the job and pull Nigeria out of the woods –someone who will unite and secure the country.

“A president who would give the Igbo, Yoruba, Hausa and minority ethnic nationalities a sense of belonging. We need a leader who will ensure fairness, equity and justice. That’s what I am advocating.

“Today, poverty is everywhere and insecurity is almost everywhere. There is seemingly a lack of unity across the country, so we need someone who will unite the country. I think that is what we should be dwelling on. We need someone who will come and put infrastructure everywhere so that everybody would mind their businesses and won’t care who the president is,” he added.

2023: You are a betrayal of not-too-young to-run campaign-TSG Replies Kogi Governor

YOUR FAILURE IN GOVERNANCE HAS  BETRAYED THE NOT-TOO-YOUNG-TO-RUN CAMPAIGN - TSG REPLIES YAHAYA BELLO

The Tinubu Support Group (TSG) has described Kogi State Governor, Alhaji Yahaya Bello as a betrayal of  Not-too-Young-to-Run Campaign with his shoddy performance in governance.

The TSG stated this against the backdrop of an interview granted a national daily by the governor in which he advised the National Leader of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu  to drop his presidential ambition.

 Governor Bello had on Sunday, August 22, in an interview with Dailytrust asked Asiwaju  Tinubu to drop his presidential ambition and support him, noting that “ as a son to him, my simple advice is that it is time for him to allow his children to take over the mantle of leadership”.

In a reaction to Bello's remark, the TSG in a statement signed by its Director General, Umar Ibrahim, said that the governor's opinion should not be taken seriously. 

"All Nigerians can attest to the fact that governor Bello of Kogi State is a disgrace to the Not-too-Young-to-Run Campaign.

" How do we commit a great nation such as Nigeria to a so-called  youthful governor who was given opportunity to lead his state and he messed things up? 

" Kogi people are dying daily because of unpaid salaries and misgovernance and you think that's a criteria for governing a great country like Nigeria. 

“It is on record that you, governor Bello remains the governor with the highest number of months of unpaid salaries and non performance despite the huge sums of both internal and federally-generated revenues.

"We advise that you channel all your efforts into begging and praying for forgiveness for all the sufferings you have inflicted on the good people of Kogi state rather than eyeing presidency."

The group also expressed confidence that the party would witness a successful transfer of power from one region to another at the polls in 2023, stating that the national leader of the APC, Bola Tinubu, remains the most qualified and competent candidate to take over from Buhari.

2023 Race: Kolawole's Macabre Dance and His many Troubles* ...the Laughable Indictment of Funsho Otu

In an ungodly and inordinate manner, Kolawole has began to pick up fights with individuals he sees as stumbling blocks to his much rumoured sinisterly concieved 2023 Kabba/Bunu/Ijumu House of Representatives ambition. Just like a shameless maraunder

 and a dog that has gone beserk and has lost touch with the command sound of it's owner, Kolawole has taken the fight to his boss, Alh Yahaya Bello, on whose mercy and goodwill he is serving his forth year as the Speaker of Kogi State House of Assembly even when he doesn't deserve such an exalted office in view of   his shameful outing in the 2019 National Assembly election when his party APC woefully lost to PDP in the Senate and Reps contest in Kabba in a manner that suggested that Kolawole  sold out his party interest for personal benefit.

 He has ignored all signs and body language of the governor as he continued to wage war against the governor's interests. Most recent is his audacious call to question of  the wisdom of the Governor for retaining him as the Speaker by recommending for removal one of the governor's appointed State Independent Electoral Commissioners, High Cheif Funsho Emmanuel Olorunfemi (Funsho Otu). 

The Speaker has recently  sworn to destroy Hon Funsho Olorunfemi, a fellow Owe man like himself for a reason that Olorunfemi's loyalty and allegiance  is rather to another man other him( the Speaker). 

Suddenly, Kolawole's rubber stamp Assembly has realised that Olorunfemi is too 'political' to hold the office of SIEC Commissioner, and as such are making frantic but obviously fruitless effort to undo what they did earlier by giving a nod to his recommendation for appointment by the Governor.

The ignoble report of the House committee commissioned to investigate the allegations against Funsho Otu is a testimony of not only a hatchet job but also a job done without wisdom and sense. In that report, the committee has alleged that Funsho's activities has promoted conflict and tension in Kabba/Bunu and one begins to wonder the mechanism employed by the committee to arrive at this lies. Until recently, that Kabba/Bunu was thrown into political tomoil due to the activities of the Speaker himself during the July 31st APC Ward and Local Government Congress, the local government has being very peaceful and calm. One begins to wonder if it is also fundermentally necessary for the House of Assembly to drag itself into such a shit just to satisfy the inordinate drive of it's Speaker to settle political scores with his percieved political foe. The report  in part reads:

.."the committee also noted that the illegal participation of Mr Funsho Olorunfemi in political activities in Kabba/Bunu Local Government Area and Otu Ward has resulted in chaotic situations in the area". 

Prince Kolawole's 2023 ambition is already feathering discomfort among the party heirachy in Kabba/Bunu which may be too expensive for the party to contain. This is not however unconnected with the desire of the Speaker to buldoze his way to power beyond 2023. The rank and file of APC in the Local Government are however much aware of his roles in 2019 and has sworn not to reward such act of treachery against the party.

 

It is about time the governor and party hierarchy in the state calls Kolawole to order before he throws our party into crises moreso that it has being rumoured that that there are plans for him to abandon the party show he fails to clinch the party 2023 House of Representatives ticket.

A stitch in time they say saves nine.

Oloruntoba  Tobi  John writes from Kabba

2023: Why CHARVID should run.

 

Short biography

Mr David Shola Aiyedogbon(Popularly known as CHARVID) is from Aiyegunle Gbede. He was born and brought up in Ekinrin Adde of Ijumu LGA.

A graduate of Accountancy and also a 1st class graduate of Law with many other professional certificates. 

Also a retired and focus driven man who served in the  Federal Civil Service at different levels including working at the Villa under three Nigerian former presidents namely Chief Olusegun Obansanjo(GCFR), Alh. Musa Ya'radua(GCFR) and Dr. Goodluck Ebele Jonathan(GCFR)

A proud father of four beautiful and handsome Children.

He is currently a successful business mugul who have huge investment in different part of the country including his country home Kogi, a successful farmer, philanthropist and goal getter.

In his words, as a grassroot person who has spent most of his lives with his people, diving into the polical terrain to me means giving more to our people  as it has always been my passion.

As a man who is well conversant with the grassroots and it's environs, CHARVID has employed more of our  indigenes to strategic positions in his various businesses across the country. Facts and figures are available.

His contributions to better the lives of our people is second to none.

CHARVID is most qualified, possesses the experience, capacity and maturity to run for HOR Kabba/Bunu/Ijumu Federal Constituency.

The roles and responsibilities of a representative at the National Assembly includes:

 1. Public service (A Senior and successful Civil Servant with clean records)

 2. Budgeting and financing ( A high ranking and experienced accountant)

 3. Law making ( A first class Law Students, Baze University)

He is well grounded with all these.

He said "as a realistic person, going for a realistic project to improve on the economic condition of our people is sacrosanct and not negotiable.

BREAKING: Nigeria Police IG suspends Abba Kyari, panel begins probe

The Inspector-General of Police, Usman Alkali Baba has suspended DCP Abba Kyari, the Head of the Police Intelligence Response Team (IRT).

A statement by Force spokesman, Frank Mba said Kyari will remain out of service of the Nigeria Police Force pending the outcome of investigations.

The IGP, in his letter to the Police Service Commission, dated 31st July, 2021, noted that the suspension is in line with the internal disciplinary processes.