EFCC Withdraws Case Seeking Forfeiture Of N20b Kogi Bailout Loan

The Economic and Financial Crimes Commission (EFCC) has withdrawn its suit seeking the forfeiture of the N20 billion bailout funds granted to the Kogi State Government.

 

Counsel to EFCC, Mr Kemi Pinheiro, SAN, leading Mr Rotimi Oyedepo, applied for the withdrawal on Friday in a court presided over by Justice Chukwujekwu Aneke.

 

The money in question issued by a new generation bank, was meant for the payment of backlog of salaries of Kogi State workers.

According to EFCC, however, Kogi State Government officials allegedly domiciled it in an interest-yielding account with the bank.

 

Justice Aneke, while granting the order of withdrawal sequel to the application by EFCC counsel, granted the prayer, noting that “the EFCC is a responsible body”.

 

One of the grounds was that questions resulting in the commencement of the suit had been clarified and an intention had been shown to return the sum of N19,333,333,333.36 to the Central Bank of Nigeria (CBN).

 

Justice Tijjani Ringim had on August 31, granted an ex-parte application brought by the EFCC for an interim forfeiture of the N19, 333, 333, 333.36 billion, said to be warehoused in the State account number 0073572696.

Justice Ringim made the order of the interim forfeiture after taking arguments from EFCC’s counsel, Abbas Muhammed.

 

The judge ruled that the order was pending the conclusion of an investigation or possible prosecution by the EFCC.

 

When the matter came up on September 28, 2021 before Justice Aneke, he adjourned to hear all applications relating to the loan.

 

At the resumption of proceedings Friday, Pinheiro presented the EFCC’s grounds for discontinuance as contained in an October 13, 2021 application.

 

The application titled ‘Notice of discontinuance’ stated that ‘the Applicant, the Economic and Financial Crime Commission has resolved to discontinue this matter in SUIT NO: FHC/L/CS/1086/2021 pending before this Honourable Court against the Respondent’s Account herein.”

 

Granting the EFCC’s application, Justice Aneke ruled:

 

“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. My humble opinion is that application is meritorious and ought to be granted.”