Group asks EFCC to probe Kwara Govt. over N1bn loan

News Agency Of Nigeria

February 17, 2019 6:53 PM

A group, Kwara Coalition for Good Governance and Accountability (Kwara-CGGA) has called for the probe of Kwara Government for allegedly securing N1 billion from a bank on the eve of the postponed general elections.

Operatives of the EFCC.

In a statement by its Secretary-General, Hassan Omoiya, on Sunday in Ilorin, the group was of the view that the loan was suspect and in bad faith.

Omoiya declared that his group had intelligence that the state government obtained the loan on Feb. 13, from a first generation bank, using the remittance of Kwara State VAT allocation due in February and March 2019 as collateral.

Economic and Financial Crimes Commission (EFCC) boss-Ibrahim Magu. ece-auto-gen

We urge the EFCC and indeed the Federal Ministry of Finance to determine the appropriateness of utilization of credit facility of N1 billion by Kwara State Government at the twilight of general election.

We also call on EFCC to probe the use of VAT Account as collateral for the credit facility in the absence of prior approval and authorisation from Debt Management Office and Federal Ministry of Finance in tandem with extant laws and regulation on granting of loan to state governments.

It is our expectation that your investigation will extend to individuals and corporate institutions that participated in the unwholesome act with a view of prosecuting the affected individuals and institutions with attendant cost and penalty, the statement added.

The statement said it was clear that the loan would be used to prosecute election for the ruling PDP in Kwara State.

It seems the state government remote-controlled by Senator Bukola Saraki doesn't want to change its ways despite efforts to end misuse of public funds by the President Muhammadu Buhari administration, Omoiya said.

News Agency Of Nigeria