Home » News » EFCC Traps Cross River State Accountant General Over Alleged N5 Billion Misappropriated Funds

EFCC Traps Cross River State Accountant General Over Alleged N5 Billion Misappropriated Funds

Report has reached Cross River Daily that the State Accountant General, Mr Joseph Adie is currently in the hook of EFCC over alleged misappropriation of N5 billion being part of the bailout funds the federal government handed to Cross River State government.

The report said EFCC picked up Mr. Adie last week Friday to its zonal branch in Port Harcourt, Rivers State where he disclosed the whereabouts of over N5.8 billion equalization fund which he signed on behalf of the State government.

Though Adie has, yesterday been released, the report further said EFCC are currently investigating his office for, not just the transaction of the bailout funds but other related transactions they feel were carried out fraudulently.

Cross River Daily recalls that sometime last year, The Senate told Joseph Adie that his explanation about how Cross River State government spent a whooping N7.85bn bailout funds given to her by the Federal Government, “…is clumsy” and was given a five days ultimatum within which to put together a comprehensive report on how the money was expended.

Same last year, Abdullahi Gumel, Chairman, Senate Committee on States and Local Government Administration, on a tour to the state in respect of series of petitions against how the state government spent the bailout funds, further disclosed that the petitions were enormous and his committee will not rest until investigations into how the funds were spent by the state comes to light. He gave Adie till Friday, January 20, 2017 as deadline for the submission of a comprehensive bailout expenditure report. However, the matter was swept under carpet.

READ ALSO:  BAKASSI: Navy Apprehends 3039 Bags Of Contraband Rice Worth N46 Million

Independent investigations carried out by www.calitown.com reveal that while the state collected N7.856bn as bailout fund, something in the region of N3.140bn is believed to have been spent while a tidy balance of N4.715bn remains a contentious figure that has attracted the flurry of petitions against administrators of the funds.

Cross River Daily can authoritatively report that the purpose for which the funds were released was yet to achieved as pensioneers as well as some staff at the local government level still cry of salary starvation.

Leave a Reply

Your email address will not be published. Required fields are marked *

*