Bailout funds scandal: Governor loses $10m to his girlfriend | Nigeria News Today. Your online Nigerian Newspaper

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A governor is under probe after the sum of $10 million he diverted from the bailout funds allocated to his state was hijacked by his girlfriend .

The governor was said to have commissioned his mistress to help him launder the said sum only for the latter to refuse to remit it in the slush accounts the governor provided.


Already, the money in question has been traced to a bank in the United States.

Investigation revealed that the governor resorted to using his US-based mistress to stash the funds abroad in order to avoid monitoring by security agencies.

The cash was allegedly either wired or hauled in tranches in order to beat the nation’s Financial Intelligence Unit (FIU).

In spite of the governor’s tricks, however, security agencies were able to intercept the deal between him and his mistress.

It was gathered that the diversion of the looted $10 million by the mistress created an uproar that triggered the ongoing investigation of the deal between the love birds.

One of the sources involved in the probe said: “A governor from an oil-producing state is in soup and under probe by some security agencies.

“The governor seems to have been duped by his mistress who stays in Texas in the United States.

“The governor is worried after discovering that his girlfriend has defrauded him of $10 million.

“What started as a love affair and promises of good faith has turned sour.

“Yet the governor would not want his wife or the people of the state, who will be disappointed, to know about this ugly transaction.”

The security chief added: “Investigation so far indicated that the governor allegedly diverted part of the bailout funds meant for his state to the mistress.

“All relevant security agencies are already tracking how the cash was wired to the mistress as well as the whereabouts of the funds.

“Very soon, the details of the transaction will be revealed to Nigerians.

“This is why the government has decided to monitor how bailout funds and London-Paris loan refunds were spent.”

The Presidency in 2016 released the sum of N1. 266.44 trillion to 36 states within nine months.

The breakdown includes N713.70 billion special intervention funds to states and London Paris Club loan refunds of N522.74 billion.

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) had said 16 states were yet to disburse about N57, 663, 185, 735 of the bailout funds approved for them by President Muhammadu Buhari.

The agency also indicted some of the states for diverting the bailout funds which were meant for workers’ salaries.

(Culled from Punch)

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  1. When are we going to restart firing squad for such heinous crimes as this?

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  2. How can the press not give his name. Or are they scared of doing so

    ReplyDelete
  3. How can the press not give his name. Or are they scared of doing so

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  4. If they give his name then you will now say is just politics. Let the investigation be properly Conducted before revealing the name, GOD is with Nigerian masses.

    ReplyDelete
  5. If they give his name then you will now say is just politics. Let the investigation be properly Conducted before revealing the name, GOD is with Nigerian masses.

    ReplyDelete
  6. This is a heart braking news how I wish its not true

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  7. Were is the sincerity in the fight against curroption if you still hide and protect criminals? except FG & the media are giving us false info.

    ReplyDelete
  8. Were is the sincerity in the fight against curroption if you still hide and protect criminals? except FG & the media are giving us false info.

    ReplyDelete
  9. The biggest and worst enemies of Nigeria are most of the devils calling themselves Politicians.

    I am sure they think Nigerians can never revolt! It is stupidity and callousness taking us for ride.

    FG must stop sending money to these looters. Instead, Ministery of Finance must be sending bailout money to Civil Servants' directly before they are forced to revolt.

    ReplyDelete

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