River's state government account on freeze!!

6 October 2008

hello people,

some bad or should i say good news 4rm the home front, i would like to call it good 4 now cos something positive is being done for now, only God knows for how long though.
as it turns out the E.F.C.C.[Economic and Financial Crimes Commission] Nigeria on the 2nd of October allegedly frozen one of the bank account of the River's state government(not governor) amidst rumors and petitions from concerned individuals of the state.

the state which was created by military decree on the 27th May 1967, is at present being governed by Gov. Rotimi Amaechi who came into power on the 26th of 0October 2007. it just casts bad light on his governance and the state which has and is still severely unstable.
it's all still hushed up but the EFCC have certain person's of interest that they want to talk to. here is the full gist out for now, be sure that i will keep u posted.

The Economic and Financial Crimes Commission (EFCC), has frozen one of the accounts of the Rivers State government in a high profile bank over alleged money laundering.Very reliable sources told Vanguard that a top official of the state government (name withheld) whose account was allegedly used for illegal transfers and payments running to several hundreds of millions of naira, is also wanted by the EFCC to come and explain how he came about the huge amounts in his accounts.
According to EFCC sources the officials account which was opened in his name, was later converted into an account of the state government against public fiscal regulations and EFCC found out that huge sums like N50million, N100million, N200million and N300million, were at several times lodged into the account and that these monies disappeared at some point without records of what they were used for.
Asked how the EFCC came to know about the developments, sources said some concerned indigenes of Rivers State petitioned EFCC about huge transfers of money for fraudulent purposes and that the monies were being moved by the official.

but in other news(vanguard online) on the 3rd of October the rivers state government denied that any of its accounts have been frozen by the E.F.C.C.. the states financial commissioner Mr osinachukwu Ideozu released a statement to that effect asking people to disregard the vicious rumors and further assured the people that the amaechi led administration was one with government transparency and commitment to the people, as such the has signed the due process bill into law.

For those of you wondering what the "due process" or "due process of law" means,it's the principle that a person has a right to receive notice, and be heard in an orderly proceeding in order to protect his or her rights.

i know its scary to think that they r only just signing off on this now. with all these denials flying around only time will tell. but ur ever faithful here will keep u posted.
remember to drop your comments.


1 comment

  1. A whole government account frozen..na wa..I wonder who this government official is..Anyway, for whatever its worth..the EFCC seems to be doing something about it.lets hope this story unravels..time will tell..



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