N20bn bailout: EFCC withdraws suit against Kogi

Kogi State Governor Yahaya Bello
Kogi State Governor Yahaya Bello

The Economic and Financial Crimes Commission (EFCC) on Friday withdrew its suit seeking the forfeiture of N20 billion bailout funds granted to the Kogi State Government by a bank.

The anti-graft agency had alleged that the money, which was meant for the payment of salaries, was kept in an interest-yielding account by the state government.

However, EFCC counsel Kemi Pinheiro prayed the court to withdraw the case on six grounds, one of which was that questions resulting in the commencement of the suit had been clarified, and an intention had been shown to return about N19.3bn to the Central Bank of Nigeria (CBN).

Justice Chukwujekwu Aneke granted the order of withdrawal on Friday sequel to a motion filed and argued by Mr Pinheiro.

More to follow…