Immediate past governor of Kogi State, Yahaya Bello, has pleaded not guilty to a 16 -count charge bordering on diversion of N110 billion from the state government’s coffers.

The ex-governor was arraigned by the EFCC at the Federal Capital Territory FCT High Court, Maitama, Abuja, on Wednesday, November 27, 2024,

He had spent the night in the anti-graft agency’s custody, and was driven to court at about 8:50 a.m.

Bello was docked before Justice Maryann Anenih, alongside two other defendants, Umar Oricha and Abdulsalami Hudu, who were granted bail at the court’s last hearing on the case.

The defendants were accused of complicity in a N110billion fraud. Dressed in white caftan and blue cap, Bello, mounted the dock around 9:45am.

The charge against the defendants, marked: CR/7781, borders on conspiracy, criminal breach of trust and possession of unlawfully obtained property.

The EFCC is alleging that the former governor converted state funds to personal use to acquire properties, including No. 35 Danube Street, Maitama District, Abuja (N950 million), No. 1160 Cadastral Zone C03, Gwarimpa II District, Abuja (N100 million), and No. 2 Justice Chukwudifu Oputa Street, Asokoro, Abuja (N920 million).

Other properties include Block D Manzini Street, Wuse Zone 4, Abuja (N170 million), Hotel Apartment Community: Burj Khalifa, Dubai (Five Million, Six Hundred and Ninety-Eight Thousand, Eight Hundred and Eighty-Eight Dirhams), Block 18, Gwelo Street, Wuse Zone 4, Abuja (N60 million), and No. 9 Benghazi Street, Wuse Zone 4, Abuja (N310.4 million).

They were further accused of transferring $570,330 and $556,265 to TD Bank, USA, and possessing unlawfully obtained property, including N677.8 million from Bespoque Business Solution Limited.

Bello was declared wanted by the EFCC in April this year and shunned several summons but finally surrendered himself to the anti-corruption agency’s headquarters in Abuja on Tuesday.

On 18 September, Bello, in company with his successor, Governor Usman Ododo, went to EFCC to make a dramatic, controversial attempt to surrender himself to the anti-graft agency but the EFCC refused to arrest him. However, later that day, its officials attempted to arrest him at the Kogi State Government Lodge in Asokoro, Abuja, where he was being sheltered by his successor.

The encounter resulted in hours-long shootout following a confrontation that reportedly ensued between EFCC operatives and the governor’s security details.

While the commotion was going on, Bello escaped from the scene in Ododo’s convoy and was not seen till Tue

sday when he turn himself in.

The Central Bank of Nigeria has increased monetary policy rate to 27.50% from the earlier 27.25% in which it was pegged.

This would mean that borrowing becomes costlier; the CBN also aims to use monetary policy rates to control inflation.

It is also aimed at ensuring that the naira becomes stronger.

According to a post on the official X account of the CBN, the bank voted to increase monetary policy rate by 250 points.

“The Monetary Policy Committee (MPC) Voted unanimously to raise Monetary Policy Rate (MPR) by 250 basis point from 27.25% to 27.50%” the statement read.

The CBN also voted to “retain Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks.”

“The Committee also retains the Liquidity Ratio (LR) at 30% and Asymmetric Corridor at +500/-100 basis points around the MPR.” the apex bank posted.

The increase in monetary policy rates have failed to reduce the inflation in the country with general inflation and food inflation experiencing increase.

It is unclear if the CBN monetary policy rate does not affect government borrowings as state governments have continued to borrow increasingly from domestic sources.

The CBN have continued to insist that increasing monetary policy rates were vital to economic stability and recovery in the country.

The Ebonyi State Governor, Francis Nwifuru, has suspended the state Commissioner for Health, Dr. Moses Ekuma and his Housing and Urban Development counterpart, Francis Ori.

Our correspondent gathered they were suspended on Monday during the State Executive Council meeting in Abakaliki, the state capital.

A statement issued by the Commissioner for Information and State Orientation, Jude Okpor, which was sighted by our correspondent on Tuesday morning, read, “Following cases of gross misconduct and dereliction of duties by some government officials and matters related thereto, the Chairman of Council directed the indefinite suspension of the Honourable Commissioner for Housing and Urban Development and three months suspension of the Honourable Commissioner for Health respectively.”

PUNCH Online learnt that the development may be connected to the alleged theft of pieces of property belonging to the Ministry of Health by its officials and the reported underperformance of the Housing and Urban Development commissioner and his shoddy handling of the Amaeze Housing Scheme in the Ishielu Local Government Area of the state.

Recall that the governor was in the health ministry’s premises on Saturday night and met a scene where six officials were caught allegedly diverting government materials.

He, therefore, ordered their arrest and eventual prosecution.

Recently, the Commissioner for Housing and Urban Development, Ori, was reportedly threatened to deliver critical projects under his watch or risked being arrested. While the commissioner for Housing was suspended indefinitely; his colleague in the ministry of Health was suspended for three months.

Also suspended were the Permanently Secretary in the ministry of Health and the Executive Secretaries of the State Primary Healthcare Development Agency and the Ebonyi State Health Insurance Agency.

A document signed by the Commissioner for Information and State Orientation, which was sighted by our Correspondent, on Tuesday, read, “Following cases of gross misconduct and dereliction of duties by some government officials and matters related thereto, the Chairman of Council directed the indefinite suspension of the Honourable Commissioner for Housing and Urban Development and three (3) months suspension of the Honourable Commissioner for Health respectively.

“Also to proceed on a three-month suspension are the Permanent Secretary of the Ministry of Health, the Executive Secretaries of the State Primarily Healthcare Development Agency and that of the Ebonyi State Health Insurance Agency.

“In view of the development, the Special Assistant (SA) to the Governor on Primary Health was directed to take charge of the ministry in the absence of the suspended Commissioner.

“The suspended government officials are to hand over all government properties in their possession including vehicles to the Secretary to the Government on or before the close of work on Monday, November 25, 2024.”