Group asks EFCC to Investigate Kwara govt over N1bn loan Obtain on eve of Elections


The Economic and Financial Crimes Commission has been asked to probe a N1bn loan the Kwara State Government allegedly secured from a bank on the eve of the coming general elections, insisting the loan was suspect and in bad faith.
In a statement by its secretary general Hassan Omoiya on Sunday in Ilorin, the Kwara Coalition for Good Governance and Accountability (Kwara-CGGA) said it has intelligence that the state government obtained the loan on 13th February from a first generation bank (Eco) using the remittance of Kwara State VAT allocation due in February and March 2019 as collateral.
The statement said: “We urge the EFCC and indeed the Federal Ministry of Finance to determine the appropriateness of utilization of credit facility of N1 billion naira by Kwara State Govt at the twilight of general election and the status 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 said it was clear that the loan would be used to prosecute election for the ruling PDP in Kwara State, adding: “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.”
Source: Nigerian Pilot

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