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Kogi N20 Billion Bailout Scandal: Workers Fate Nailed As Funds Return To CBN
Last week Friday concerned Nigerians and followers of the controversial N20 billion Kogi workers’ bailout fund were told that the fund has been returned to the Central Bank of Nigeria.
Many have spoken to DAILY POST on the implication of returning money that would have alleviated the plight of workers in Kogi State.
Majority have tagged the government narrative a ‘cock and bull’ story spanning the period of seven months.
The mystery behind the Kogi State workers’ N20 billion has continued to shock analysts given the circumstances under which such a humongous amount of money was hidden in a Sterling bank account amid state workers’ misery, poverty and anguish.
Recall that the Economic and Financial Crimes Commission (EFCC), one of Nigeria’s anti-graft agencies blew the lid open that the sum of N20 billion workers’ bailout fund, released to the Kogi State government by the Central Bank of Nigeria (CBN) was kept in an interest yielding account number 0073772696 domiciled in a Sterling Bank.
The revelation led to denials and media theatrics and claims of the non-existence of such funds by those involved.
The EFCC in a 13-paragraph affidavit earlier deposed to by a member of the team of investigators had through relevant provisions in the Act that establishes it approached Justice Tijani Garba Ringim to freeze the account since the funds were not used for the purpose they were disbursed.
Now, after seven months of legal battle, the EFCC has secured a return of N19.33 billion Kogi State Salary bailout funds.
The development was confirmed by the Spokesperson of the Economic and Financial Crimes Commission, Mr Wilson Uwujaren in a statement.
Part of the statement said: “The EFCC had earlier withdrawn its suit seeking the forfeiture of the N20 billion bailout funds granted to Kogi State government by Sterling Bank.
“The return of the money to CBN would effectively put to rest the campaign of misinformation and unconscionable denials by Kogi State government that no funds were recovered from its bailout account.”
But speaking with DAILY POST on Tuesday, the Executive Director of a popular Kogi based non-governmental organization, Initiative for Grassroot Advancement (INGRA), Comrade Hamza Aliyu said the kind of government in place in Kogi State since 2016 cannot be trusted.
He said the state workers’ audit which was carried out between 2016 and 2017 was targeted at sacking workers who would have benefitted from the bailout funds of N50.8 billion approved by the Central Bank of Nigeria for State and Local government employees during the previous administration of Idris Wada before Yahaya Bello inherited the funds.
Aliyu maintained that three institutions cannot be wrong even as the Kogi State government has continued to deny the existence of such funds domiciled in Sterling Bank.
He said: “Kogi State cannot be trusted. The audit which was carried out in 2016 and 2017 was meant to deny workers of bailout funds which has been approved before the administration of Yahaya Bello.
“Three institutions, that’s the EFCC, Court and the Central Bank of Nigeria cannot be wrong in the circumstances. My people said, in every smoke, there is a fire.
“The amount of money Kogi State government was accused of was weighty and instead of Kogi which claimed that such did not exist to go to Court, they were busy ranting on pages of newspapers.
“The EFCC is an investigative institution, and I believe it would not have approached the Court without evidence and since April till date, Kogi hasn’t proven the anti-graft agency wrong. Kogi State government is not only guilty and liable but corrupt and irresponsible.”
Meanwhile, a letter dated November 9, by the Central Bank of Nigeria which was addressed to the Chairman of the Economic and Financial Crimes Commission, confirmed that the sum of N19,333,333,333.36 has been returned to its vault by Sterling Bank PLC as proceeds in the name of Kogi State Workers’ Salary account number, 0073772696.
The CBN’s confirmation letter was in response to EFCC’s letter of inquiry dated November 5, 2021, Ref. No. CR:3000/EFCC/LS/CMU/REC-STE/VOL.4/047 asking the anti-graft agency to furnish it with details of the funds in compliance with the October 15,.2021 order of a Federal High Court in Ikoyi, Lagos.
As anger continues to trail the return of the bailout funds, a female teacher in one of Kogi State-owned Secondary Schools in Ogaminana in the Central Senatorial district who pleaded anonymity lamented the plight of workers.
She told DAILY POST that she is on level 12 step 6 and gets between N17,600 and sometimes N16,000 as monthly salary.
According to her, no teacher was a happy person at the state and Local Governments’ level, stressing that when the controversial workers’ N20 billion bailout fund was made public in the press, they recalled how workers expected the intervention without any news at that time.
Also, a social critic, Comrade Austin Usman Okai lamented that the development has deepened Kogi workers’ woes, recalling that the funds were originally meant for payment of arrears of State and Local Government workers.
He said, former governor Idris Wada’s administration worked out the funds to the tune of N50.8 billion with State workers having 40%, while LG workers have 60%, adding that the CBN approved the amount, but delayed releasing it for political reasons.
He explained that the denial of the returned funds by agents of Yahaya Bello administration was criminal, particularly that every Kogite knew the history of that money, that it was part of the N50.8 billion bailout fund meant to offset workers’ salaries which to a large extent, the previous administration which applied for the funds had collated particulars of the workers before it abruptly left office.
Okai described Yahaya Bello as ‘Lord of the manor’, who cannot be questioned, a situation he said has brought governance in the State, “next to nothing”.
In his words: “Teachers on level 9 to 10 get N3,000 to N9000 monthly, depending on the mood of the governor in that month.
“The Nigeria Labour Congress cannot talk, nobody can question Bello.
“Even the Central Bank of Nigeria knew that they can’t prosecute Bello for now for not utilising the funds that were released to him.
“As we speak, Kogi State House of Assembly are on, doing the hatchet job and so Kogi State is in mess for now.
Speaking on the way forward, he said they were engaging the EFCC to investigate the State further as he believes the bailout scandal was the ‘tip of the iceberg.’
He further appealed to workers to be patient, given that they were on the losing side of life for now, but expressed hope that there was always another day for them to be wriggled out of the logjam they have found themselves.
News
Ignore Fake February 2 Sit-at-Home Order, IPOB Lawyer Tells South-East Residents
A human rights lawyer and lead counsel for the Indigenous People of Biafra, Sir Ifeanyi Ejiofor, has urged South-East residents to completely ignore what he described as a “fraudulent” sit-at-home order allegedly scheduled for Monday, February 2, 2026, by a faction of the group.
Recall that the pro-Biafran group, through its spokesman Emma Powerful, had directed a sit-at-home on February 2 across the region in solidarity with traders at the Onitsha Main Market.
Powerful said the total shutdown in Biafraland is a direct, peaceful, and unified response to the actions of Anambra State Governor, Prof. Chukwuma Soludo, who ordered the closure of the Onitsha Main Market for one week.
But in a counter statement released on Saturday, Ejiofor said the source behind the directive, operating under the guise of “Emma Powerful,” has been compromised and is acting against the collective interest of Ndi-Igbo.
He insisted that IPOB has formally and decisively distanced itself from the false sit-at-home order and directed Ndi-Igbo to go about their lawful activities without fear.
The statement read in part: “Once again, the well-worn theatre of misinformation has opened its curtains, this time with a particularly lazy script and an insultingly predictable cast.
“Late yesterday, a report was widely circulated alleging that a total lockdown of Ala-Igbo had been ordered under the guise of a sit-at-home directive purportedly issued by ‘Emma Powerful,’ slated for Monday, February 2, 2026.
“Let it be stated clearly, unequivocally, and without ambiguity: this directive is fake, a phantom, a calculated falsehood.
“Upon careful inquiry and diligent verification, especially considering the delicate and hard-won calm presently returning to our homeland, it became glaringly obvious that the so-called ‘Emma Powerful’ platform has been fatally compromised.
“It has been hijacked by vested interests whose business model thrives on fear, disruption, extortion, and the cynical exploitation of vulnerable communities.
“The peaceful global movement of the IPOB has formally and decisively disowned this fabricated publication, categorically distancing itself from the false sit-at-home order and directing Ndi-Igbo to go about their lawful and normal activities without fear.
“Going forward, the message from IPOB is unmistakable: any publication attributed to ‘Emma Powerful’ should be treated with extreme suspicion, if not outright contempt.
“Frankly, one cannot but express astonishment, bordering on disbelief, that at such a critical juncture, when relative peace is cautiously resurfacing in Ala-Igbo, anyone would recklessly circulate information capable of reopening wounds and inviting criminal infiltration.
“History has taught us, at unbearable cost, what happens when fake directives fall into the hands of violent opportunists masquerading as enforcers.
“It is therefore no longer sufficient to merely advise our people to ‘ignore’ publications from this source. The time has come for greater clarity and firmness. The platform known as ‘Emma Powerful,’ in its current corrupted state, has positioned itself as an adversary to Ala-Igbo’s peace, progress, and collective well-being.”
According to Ejiofor, the peaceful global movement must go further by publicly and definitively explaining why this source has become unreliable, compromised, and hostile to the collective interest of Ndi-Igbo. Silence, ambiguity, or polite distancing, he said, only leaves room for further abuse.
“A masquerade that dances with fire should not be mistaken for a messenger of truth,” the statement concluded.
News
Joint Task Force Crushes Terrorist Cells In North East, Heavy Weaponry Seized
In recent operations across the North East, troops of the Joint Task Force Operation HADIN KAI (OPHK) have neutralized scores of terrorists and recovered a significant cache of arms and ammunition.
Lieutenant Colonel Sani Uba, Media Information Officer, Headquarters Joint Task Force (North East) in a statement said intelligence has confirmed the killing of JULAIBIB, a top ISWAP commander operating within the Gujba axis of the Timbuktu Triangle, during an encounter around Kimba, Damboa LGA of Borno State, on 30 January 2026.
According to the statement, the elimination of the terrorist leader has thrown ISWAP elements in the area into disarray, with several fighters reportedly neutralised during the operation.
In a related operation, troops of OPHK, working in collaboration with the Civilian Joint Task Force, neutralised 3 terrorists during a well-coordinated ambush between Ngazalgana and Lamusheri communities in Borno State.
It said the operation followed credible intelligence on insurgent movements in the area, as troops laid an ambush along the identified route and engaged the terrorists with effective firepower, resulting in the neutralisation of 3 insurgents, while others fled with gunshot injuries.
The statement said troops recovered two AK-47, adding that the operation forms part of sustained efforts to deny terrorists freedom of movement and degrade their operational capabilities across the Theatre.
It said troops also recorded multiple successes in Adamawa State, adding that on 29 January, 2026, troops responded swiftly to a distress call from Barama community, Mubi North LGA, foiling an armed robbery attempt. Two armed robbery suspects attempting to attack a student of the Federal Polytechnic, Mubi, were arrested. One suspect sustained a gunshot wound to the thigh while attempting to confront the troops and was evacuated to the Federal Medical Centre, Mubi, for treatment.
The suspects were subsequently handed over to the Nigeria Police for further investigation. Items recovered include 3 cutlasses, 2 laptops, 4 mobile phones, and one power bank.
News
Appeal Court Affirms Death Sentences for Five Offa Bank Robbery Convicts
The Court of Appeal sitting in Ilorin, Kwara State has affirmed the death sentences passed on five 2018 Offa robbery convicts.
The court dismissed their appeals as lacking merit.
The Director of Public Prosecution (DPP) in the state, Mohammed Akande, who witnessed the proceedings, said that the three Appeal Court judges unanimously agreed on the judgement and affirmed the verdict of the state High Court condemning the five persons to death by hanging.
“The Court of Appeal, Ilorin Division comprising of Hon. Justice Ridwan Maiwada Abdullahi JCA, Hon. Justice Gabriel Kolawole JCA and Hon. Justice Abdul Dogo today, Friday affirmed the judgment of Hon. Justice H. A. Saleeman of the Kwara State High Court, that sentenced the Appellants: Niyi Ogundiran, Salawu Azeez, Ibikunle Ogunleye, Ayoade Akinnibosun and Adeola Abraham to death by hanging for the involvement in the Offa Bank Robbery”.
Another official of the Court also said that the appellate court rejected all the grounds of appeal filed by the convicts and ordered their immediate return to prison custody.
“The court dismissed all their grounds of appeal and upheld their convictions. They have been taken back to prison,” the official said.
The official said that the arguments raised at the Court of Appeal were unconvincing and may not succeed if repeated at the apex court.
It is recalled that Ayoade Akinnibosun, Azeez Salahudeen, Niyi Ogundiran, Ibikunle Ogunleye and Adeola Abraham were convicted of armed robbery, illegal possession of firearms and culpable homicide.
A sixth suspect, Michael Adikwu, a retired police officer, died in custody before the commencement of the trial.
At least 32 people were killed, including nine police officers, two of whom were women, making it one of the deadliest bank robberies in Nigeria’s history.
Justice Haleemah Saleeman of the Kwara State High Court had earlier sentenced the five convicts to death by hanging after a trial that lasted about six years and attracted nationwide attention.
In her judgment, which lasted over four hours, Justice Salman held that the prosecution proved its case beyond reasonable doubt.
She said the convicts “acted contrary to the law and allowed their connections with those in power at the time to lead them astray”.
In addition to the death sentence, the trial court also sentenced them to three years’ imprisonment for illegal possession of firearms, in line with provisions of Nigeria’s penal laws.
Lead prosecution counsel, Rotimi Jacobs (SAN), described the appellate court’s decision as thorough and well considered, despite the prolonged delays that characterised the trial.
On the defence side, Abdullah Jimba, counsel to one of the convicts, said that preparations were underway to pursue a final appeal at the Supreme Court.
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