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ICPC Grills OAGF, CBN Officials Over ‘Missing $3.4 Billion IMF Loan’

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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has questioned two officials of the Central Bank of Nigeria (CBN) and one from the Office of the Accountant-General of the Federation (OAGF) over $3.4 billion loan allegedly granted to Nigeria by the International Monetary Fund (IMF).

Naija News reports that the anti-graft agency has also invited another set of officials from the Federal Ministry of Finance for interrogation.

Recall that the Socio-Economic Rights and Accountability Project (SERAP) has approached the court over what it alleged as “the failure to probe the grim allegations that the $3.4 billion” was missing.

SERAP, in a statement to Naija News, said it had filed a lawsuit against President Bola Ahmed Tinubu for failing to probe the $3.4 billion loan that was either “missing, diverted or unaccounted for.”

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It said its lawsuit was in line with Section 16(1) and (2) of the 1999 Constitution.

The organization also said it sued the President, having taken cognizance of articles 5, 9, and 26v of the UN Convention Against Corruption.

But speaking to The Nation, a source disclosed that the ICPC has retrieved vital documents on the loan, which was meant to finance the budget and to manage COVID-19, adding that the probe of the loan was already in progress.

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The source said: “ICPC has launched a comprehensive investigation into the $3.4 billion loan. The commission began the probe after it had reviewed the report of the Auditor-General of the Federation. Our investigators are trying to establish if the cash was missing, diverted, or unaccounted for.

“The documents relating to the loan were retrieved from the CBN, the OAGF, and the Ministry of Finance.

“Some CBN and OAGF officials were interviewed, and the officials of the Ministry of Finance will be interviewed in the coming (this) week.

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“Documents retrieved and statements from the officials of the OAGF revealed that the utilisation of the funds were as directed by the Ministry of Finance.

“Investigation is ongoing into the various approval and utilisation of the funds by the beneficiaries.”

George Oshogwe Ogbolu is a Digital Media Strategist | Content Writer | Journalist | New Media Influencer | Proofreader and Editor at Naija News.