Icpc Reveals How States Diverted Bail-out Funds

Source: thewillnigeria.com

SAN FRANCISCO, April 23 (THEWILL) – The Independent Corrupt Practices and other related offences Commission, ICPC has released a report detailing how the bailout funds released by the federal government to states that were unable to pay salaries and pensions for about 10 months were allegedly diverted in some instance.

This is coming on the heels of a disclosure by the ICPC boss, Mr. Ekpo Nta, that the commission was investigating a state governor for alleged diversion of relief funds meant for the payment of workers' salaries.

However, in the report released in Abuja on Friday, Imo state government received N26, 806, 430, 000. 00 but transferred N2bn into the government house's account, N2bn into the state project account, another N2bn into a micro finance bank and a management fee of N21, 017, 810. 00 paid into an unspecified account.

The report also alleged that in Benue State, the sum of N37, 760, 000. 00 was paid twice to the office of the deputy governor with no explanation given to justify the payments. The state is said to have received N12, 503, 439, 787, 48 and disbursed N10, 852, 536, 702, 96; including the double payment made to the office of the deputy governor, without explanations.

Meanwhile, Sokoto state received N10, 093, 370, 000.00 and is yet to use it as at October, 2015.

However, the report also showed that Zamfara state received N10, 020, 952, 964, 51 but claimed not to be indebt, hence used the salary bail-out fund for other projects.

Nta had spoken when he hosted students of the National Institute for Policy and Strategic Studies, NIPSS in Abuja, explaining that the commission relied on petitions from members of the public to investigate allegations of corruption, because it did not have access to early financial intelligence.

According to him, “Last year, 27 states got bailout funds from the Central Bank of Nigeria, CBN. We decided to go into collaboration with the Nigerian Labour Congress, NLC, to monitor the movement of the funds from the Central Bank of Nigeria to the final destination.

“One state, where bailout funds were moved to three different accounts, is being investigated and we will soon publish the outcome of our investigations.”