From Adekunle Jimoh, Ilorin
The Economic and Financial Crimes Commission (EFCC) on Tuesday handed over N263,327,800 said to have been stolen from Kwara State to Governor AbdulRahman AbdulRazaq.
The Ilorin Zonal Head of the commission, Mr Isyaka Sharu, handed over the money at a ceremony in Ilorin, the state capital.
Sharu said the money was recovered from suspected treasury looters.
Governor AbdulRazaq hinted that past administration in the state allegedly diverted N2 billion loan collected from the Federal Government for small and medium scale enterprises (SMEs) to individual pockets.
The governor said the Federal Government had been deducting N35 million from the monthly allocation to the state to pay back the loan.
He addressed reporters in Ilorin, the state capital, after receiving the recovered loot from the EFCC.
“We are glad and excited that the money is coming in. Today, the EFCC handed over N260 million to us; the other day, the agency handed over N110 million to us. They (past government) said nobody stole money. We are glad to receive and collect the (stolen) money. It is a good. The last time, there was a drop in the monthly allocation. This will be used to augment that.”
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Asked how the money will be used, the governor said: “First of all, we are starting our budget on a positive balance sheet. This is going to go also into augmenting our budget; it is going to go into development. Some of it will go back into paying up the state government’s indebtedness to the Federal Government on small and medium scale enterprises (SMEs).
“The previous administration took a loan of N2 billion from the Federal Government on SMEs and nothing was accounted for. Everything was stole, basically. Now, the Federal Government is deducting N35 million every month from the state allocation.
“So, part of this recovered money will be used to pay back the SMEs debts and part for social reinvestment programme. So, it is a win-win situation for us.”
Sharu alleged that N5 billion was allegedly stolen from the state’s Internal Revenue Service by those he called “influential persons” in the state.
He added: “About N5 billion was allegedly siphoned from KWIRS and shared in the ratio of 30:70 by some notable individuals in the state through their cronies.
“We are working assiduously to help sanitise the civil service. We are keeping track on the activities of all political office holders and we would keep you posted in due course on any financial malfeasance against any appointee to enable yu get rid of rot in the system.”
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