ICPC confirms diversion of bailout fund by state governor

ICPC confirms diversion of bailout fund by state governor

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The Chairman of Independent Corrupt Practices Commission, ICPC, Mr. Ekpo Nta, has disclosed that the commission was investigating a state governor for alleged diversion of bailout funds meant for the payment of workers’ salaries.

He spoke when he hosted students of the National Institute for Policy and Strategic Studies, NIPSS in Abuja.

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.”

He explained 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.

Nta said by the law, only the Economic and Financial Crimes Commission, EFCC, had such access.

The ICPC boss, however, called for sharing of intelligence among all security agencies.​

Newsweb

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