Kogi: Panel Of Inquiry Urged To Probe Diversion Of N2bn Loan | WakaWaka Reporters
Yahaya Bello

Kogi: Panel Of Inquiry Urged To Probe Diversion Of N2bn Loan

The panel of inquiry instituted by Kogi State government has been called upon to investigate the where about of the N2 billion loan meant to boost small and medium scale  enterprises in the state.

The acting permanent secretary of the state Ministry of Commerce and Industry, Mr Onoruoyiza  Sunday Lawal  who made the call while testifying before the panel, alleged that the immediate past administration accessed the sum of N2 billion from the Central Bank of Nigeria as loan meant to assist small scale businesses in the state.

He said the loan  which was supposed to be disbursed by a committee as stipulated  by the apex bank  was allegedly   shared among some political office holders who he noted acted as a surety for the loan.

Lawal further hinted that in one of the state executive meetings held by the immediate past administration , the council  resolved and converted the N2billion  grant with a letter written to the bank that the state government would  be paying the loan.

According to him, “The implication of this non performance of the loan will hinder the people of Kogi State from having access to any CBN loans in future. And secondly, the people who does not know how the loan was shared will be made to pay back through deduction from the federal allocation accrued to the state.”

The acting permanent secretary therefore, appealed to the panel of inquiry to investigate the alleged fraudulent activities of the ministry over the way and manner the loan was mishandled by political office holders in the last administration.