Yakubu Busari
The Economic and Financial Crime Commission, EFCC’s Prosecution witness 1 who is the Director of Development Finance Department and also involved in Design and Implementation Policies of Central Bank of Nigeria, Mr. Mudashir Olayiton has told the court that the former Governor of Plateau State, Sen. Jonah David Jang failed to disbursed 2,839,398,474.39 billion naira central bank intervention loan to end users in Plateau state in 2015.
The CBN Director ,Mudashiru Olayiyon said ,the Micro Small and Medium Enterprise Development funds, MSMEs is one of the programs initiated by the central bank of Nigeria to improve access to finance by (MSMEs ) were the federal government started the disbursement in 2013 with the sold aimed of increasing finance in the private sectors through economic and enhancing growth .
He explained further that the Plateau state government submitted expression of interest to participate in the 220 billion naira program sometimes in 2015 along with the resolution from the Speaker of the Plateau State House of Assembly presented through ISPO was submitted also including letter indicating of interest requesting for disbursement of funds in January 10th,2015 after examining the said documents an approval was made .
Then the money was approved base on CBN order through the state government request that an agency under the name Plateau State Small Medium Enterprise with a letter by the former Governor Jonah David Jang.One of the conditions to be was the most signed an MOU for the issuance of irrevocably standing order as set up a special vehicle and written and indicating account which is to be used in disbursement will be made.
Mudashiru stated that SSPV to coordinate the activities of an agency of MSMEs that involved sources the beneficiaries working the PSI and monitoring and produce periodically into the account provided by the Governor on 15th March 2015 for the 2 billion to be posted inside the small Medium Enterprise account.
He disclosed how the funds were diverted into Plateau State Projects account, while the funds disbursed,we observed there was delay in the disbursement to the end users to access the money ,we then wrote back to state government on April, expressed displeasure that funds main for benefit of Plateau state small Medium Enterprise were not given them .
They provide finance at an affordable to MSMEs and sustainable rate, increase productivity, jobs creation and to also boost the capacity of MSMEs , adding the intention was to actually improve the wellbeing of small scales businesses in the country that can expand the growth of their business which would reduce unemployment within the sector, he said.
According to the PW1, the CBN expected that there should be growth and development at the grassroots through bottom-up approach to improve conditions of end users which the programs came with 9% interest rate increase to beneficiaries especially those that purchase the forms and were trained by the central bank of Nigeria to benefit that was the effort of CBN .
He told the court during his cross-examination by the prosecution counsel to EFCC ,Barr Rotimi Jacobs the issue warning to Plateau state government that if the MSMES money is not disbursed to the beneficiaries, the Bank would revoke IPO, that was as a result of the report gotten from the monitoring team that was sent to the state.
We normally monitor the programs nationwide to ensure to see performance accessible visit to know, Governor Simon Lalong wrote Governor of Central Bank of Nigeria on April, 30th 2015, in August 4th, 2014 expression of interest to participate in CBN loan.
The General Manager, Mr. Silvester C.Davou in a letter dated 14th December 2014 and a second letter dated 12th February 2015 applied for the loan to be disbursed to the beneficiaries.
The former Branch Manager of Zenith Bank Mr. Uchenna Igwe confirmed the separate accounts that money was posted inside saying the bank had a relationship with the state government that the operation two accounts one Plateau state Projects account and second Small Medium Enterprise account which the government is expected to send the MSMEs money.
The accountant general Plateau urged me to send the money into P21 account after realizing that the MSMEs money was a support to be sent to the P22 account which is originally open to address MSMES for traders, marketers, small-scale businesses and others beneficiary.
The defendant counsel, SAN, Robert Clarek urged the witness whether the money was sent into account of the first accused Ex-Governor Jonah David Jang but they are said no.
Meanwhile , Justice Daniel Longji has adjourned the case to tomorrow 31st October 2018 for the continuation of hearing when the trial commenced today Tuesday with accelerated hearing.
