Mon. Mar 18th, 2019

Cbn Under Fire Over Alleged Misappropriation Of N55bn

The Centre for Anti-Corruption and Open Leadership (CACOL) has urged the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to probe the Central Bank of Nigeria (CBN) over allegations that N55billion allocated for the funding of the Federal Government’s Anchor Borrowers Programme (ABP) has been misappropriated.

Executive Chairman of CACOL, Mr Debo Adeniran, made the call on Wednesday.

He cited section six (b) of The Corrupt Practices And Other Related Offences Act 2000 as the statutory provision which empowers the anti-graft agency to investigate corruption cases pertaining to public institutions in the country.

Adeniran further condemned the manner in which the huge government revenue which was approved to provide support for rice farmers was allegedly diverted to strangers and political hangers-on who are not involved in agriculture.

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