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The Kogi State Commissioner for Finance, Ashiwaju Idris, has called on the Central Bank of Nigeria to investigate the N20bn bailout fund returned to the CBN from Sterling Bank.

The Economic and Financial Crime Commission had accused the Kogi State Government of warehousing the 20bn meant for payment of civil servants’ salaries in an interest paying account in Sterling Bank instead of using it for the purpose it was meant for.

The state government had, however, denied operating any fixed deposit account in Sterling Bank.

The commissioner, who visited the apex bank, also demanded that it looked into the books of Sterling Bank for possible infractions.

A statement from the ministry on Tuesday reads partly, “Today, the Commissioner for Finance, Budget and Economic Planning, Asiwaju Idris was at the Central Bank of Nigeria to submit all documents regarding the bailout loan facility from Sterling Bank, the account status and the details of the disbursement as of October 2019.

“The commissioner said the EFCC may have acted on false information, wants the CBN to asked critical questions about the returned fund and where it originated from.”

The statement added, “While the commissioner presented all those necessary documents that will help unravel the foregoing ambiguity created by EFCC and Sterling Bank concerning the alleged N19,3bn a fixed deposit account said to have been returned to the apex bank, he charged the CBN Governor to investigate the allegation as falsely raised by the EFCC and also look deeply into the books of Sterling Bank for possible infractions.”

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The commissioner said considering the procedure involved in opening any account, neither the EFCC nor the bank had been able to present to court of public opinion, “the mandate from the Kogi State Government to open such bail out fixed deposit account in the name of Kogi State, the BVN of those that opened it, the names of personnel that opened the said account and their phone numbers.”

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