Menu Close

WHY WE FROZE IMO STATE FUNDS~EFCC

Kindly share this:

The Economic and Financial Crimes Commission (EFCC) has given reasons why it froze N5billion belonging to the Imo State government.

The Agency said that the State governor, Rochas Okorocha, was spending money recklessly and suspiciously during the last general election. It accused governor Okorocha of mismanaging the N8billion Paris Club loan that was refunded to the state.

The EFCC made this known during a brief Media chat through its South East Zonal Head, Usman Imam. Mr Usman claimed that the Agency swift intervention saved the state from losing the N5billion that would have been used in buying votes by governor Okorocha during the last elections.

You may also like: EFCC: Zlatan drops new track

The EFCC Zonal Head also said that the N8billion from Paris Club refund meant for the payment of Workers salaries was kept by the governor and he began spending frivolously on the eve of the election.

His words:

“About N7.29billion is what had been blocked. Although, with pressure, subsequently, N2.5billion was released for salary payment. On the whole, we have N5billion of the funds blocked and we are following up to see what actually happened”

Honestly, what we discovered what that N700million was withdrawn within two days; N200million in cash on the first day and N500million on the second day and all these money were disbursed in a manner that was honestly unpalatable…….”

Imam said it was unfortunate that the money was meant for the payment of salaries and pensions of workers in the state. He said, hopefully, when Emeka Ihedioha resumes office, the fund would be put to good use.

The EFCC had arrested the Accountant General of the state, Uzohor Casmir for allegedly helping the Okorocha to launder N1.05billion for the governorship election.

The governor who is a member of the All Progressives Congress had supported his Son-in-law, Uche Nwosu of the Action Alliance against the governorship candidate of the APC, Hope Uzodinma.