EFCC recovers N102m for agric bank

The Economic and Financial Crimes Commission (EFCC) has recovered over N100 million for the Bank of Agriculture, being part of funds diverted by beneficiaries of the Anchor Borrowers Programme of the bank in Kebbi State.

A statement by EFCC spokesperson Wilson Uwujaren said investigations into the matter began in 2017, and that so far, the anti graft agency has been able to recover the sum of N297 million in Kaduna and Kebbi states.

The statement said one Mohammed Babangida, representing the Managing Director of BOA, received a draft for the sum of N102, 295, 900 from the head of operations at EFCC’s Kaduna zonal office, Ibrahim Bappa who assured the bank that the EFCC would continue to assist it in the discharge of its statutory duties.

“Investigations into the matter began in 2017 following a complaint regarding how part of the Twelve Billion Naira disbursed to some Rice farmers through the Bank of Agriculture in which Kebbi State acted as uptakes for the purchase of paddy rice, was diverted.

“In the course of Investigations, it was revealed that some Rice Mills in Kebbi State collected bags of rice but failed to remit total agreed sum.

“So far, the EFCC Kaduna Zonal Office has been able recover the sum of Two Hundred and Ninety Seven Million, Nine Hundred and Eighty Thousand Naira in favour of BOA’s Anchor Borrowers Programme in Kaduna and Kebbi states,” the statement said.

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