N338bn bailout: Benue, Imo diverted funds – ICPC report

Benue and Imo states allegedly diverted money meant for the payment of workers’ salaries. This is according to a report by the Independent Corrupt Practices and Other Related Offences Commission, which monitored how states spent the N338bn bailout fund given to them by the Federal Government.

The report was signed by Mustapha Hussain on behalf of the Commissioner, Public Enlightenment. It was released on Friday in Abuja.

It will be recalled that Buhari had last year approved the sum of N338bn for 27 states that were unable to pay salaries. Some of the states had been unable to pay over 10 months’ salary arrears and pensions.

Vice-President Yemi Osinbajo, who heads the National Economic Council, had explained that the loan is repayable atan interest rate of nine per cent over a 20-year period and it is “solely for the purpose of paying the backlog of salaries.”

However, the report issued by the ICPC on Friday showed that Benue and Imo states were found wanting, while a few other states were found to still be owing salaries, an indication that the funds may have been mismanaged.

The report comes less than a month after the Economic and Financial Crimes Commission arrested the Principal Secretary to the Governor, Dr. Pascal Obi and two others — Uzoho Casmir and Iheoma Kenneth — who were described by the EFCC as the director of finance and treasurer respectively.

The fresh report by the ICPC states that, “Imo State applied for and received bailout funds of N26, 806, 430,