EFCC Recovers ₦102m For Bank Of Agriculture In Kebbi

The Kaduna Zonal Office of the Economic and Financial Crimes Commission (EFCC), has recovered ₦102 million diverted from the Bank of Agriculture (BOA) in Kebbi State.

According to a statement by the spokesman of the commission, Mr. Wilson Uwujaren, the funds, according to Vanguard, disbursed by BOA, were diverted by beneficiaries of the Central Bank of Nigeria (CBN) Anchor Borrowers Programme.

Uwujaren said investigations into the matter began in 2017 following a complaint on the diversion of part of the ₦12 billion disbursed to some rice farmers through BOA in which Kebbi acted as uptaker for the purchase of paddy rice.

He said, “In the course of investigations, it was revealed that some rice mills in Kebbi collected bags of rice but failed to remit the total agreed sum.

“So far, the Kaduna zonal office of the EFCC has been able recover ₦297 million in favour of the Anchor Borrowers Programme in Kaduna and Kebbi States.”

The Head of Operations of the Kaduna office, Mr. Ibrahim Bappa, presented a bank draft for the ₦102 million to Mr. Mohammed Babangida, who represented the BOA Managing Director.

Bappa condemned the act of beneficiaries of the scheme diverting the funds and charged the BOA to ensure proper orientation before disbursing loans.

In his remarks, Babangida commended the efforts of the EFCC to ensure the funds were recovered.

He said the action had restored confidence in the bank.