Bailout fund: ICPC makes shocking discovery about governor

– The ICPC says investigation is on about a governor embezzling bailout fund

– The commission says the result of the investigation will be made public

– 27 states received fund from the federal government to pay salaries

The Independent Corrupt Practices Commission (ICPC) has revealed that it is investigating a state governor who received bailout fund but diverted the money.

Mr. Ekpo Nta who is the chairman of the commission said this when he received students of the National Institute for Policy and Strategic Studies, who were on a study tour to the commission in Abuja.

Vanguard reports that Nta said as soon as investigation is complete, the commission would publish the outcome.

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27 states received bailout fund from the federal government in 2015 due to their inability to pay salaries and the ICPC revealed that it monitored the disbursement of the money.

Nta said: “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.”

The ICPC boss explained that the commission did not have access to intelligence but relied on petitions from members of the public to investigate allegations of corruption.

He said due to the law of the Economic and Financial Crimes Commission, it had access to financial intelligence that would have given it an edge in identifying early cases of corrupt practices.

He said this had made the EFCC prominent in the fight against corruption and urged that such information be shared between the agencies.

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He said despite this, the ICPC had recorded success in its fight against corruption.

“We have done a lot of seizures. We seized 61 houses from a staff of one organisation, whose income could not justify such massive accumulation.”

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