The Central Bank of Nigeria CBN has acknowledged the receipt of the sum of N19, 333,333,333.36 recovered by the Economic and Finacial Crimes Commission(EFCC) from the Kogi State Salary Bail-out account domiciled in Sterling Bank Plc
Penpushing reports that, Head Media and Publicity of the commission, Wilson Uwujaren said 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 statement added that, the apex bank in a letter referenced, DFD/DIR/CON/EXT/01/099 and dated 9th November, 2021 informed the Executive Chairman, Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa that it has received the money.
“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 letters reads.
Penpushing further reports that, Uwajeran said, 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..
The Commission said Justice Chukwujekwu Aneke gave the order pursuant to an application filed by the commission, adding that the agency 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 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 agency told the court”
Penpushing also reports that, the commission 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 agency spokesman in the statement said, the transfer has put paid to any further controversy regarding source and ownership of the funds and most importantly, aborted the funds dissipation.
Penpushing reports that, it is recalled that, Justice Tijani Garba Ringim, a vacation Judge, on August 31, 2021 had ordered the freezing of the account, following an ex-parte application filed by the Economic and Financial Crimes Commission (EFCC).
The agency, 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.
Penpushing further reports that, Justice Ringim after listening to the agency application, on August 31, 2021, ordered the freezing of the account and directed the publication of the order in a national newspaper by the Economic and Financial Crimes Commission (EFCC).
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