The Economic and Financial Crimes Commission (EFCC) has detained the Kwara state Commissioner of Finance, Nurudeen Banu and the Accountant General of the State, Sulaiman Ishola, over investigations into alleged slush funds for 2019 elections.

Daily Trust reported that the duo are being held at the Ilorin, Kwara state Zonal head office of the anti-graft agency to explain the utilisation of over N1 billion fund received from a commercial bank a few days to the election.

Both Banu and Ishola, are being held to explain why the money was received and how it was disbursed, the newspaper reported.

The EFCC had been asked by the Kwara Coalition for Good Governance and Accountability (KWARA-CGGA) to probe the over N1billion loan the State Government secured from a bank a few days before the general elections.

The secretary general of the group, Hassan Omoiya said it had intelligence that the state government obtained the loan on 13 February from a first generation bank using the remittance of Kwara State VAT allocation due in February and March 2019 as collateral.

“We urge the EFCC and indeed the Federal Ministry of Finance to determine the appropriateness of utilisation of credit facility of N1 billion by Kwara State Government at the twilight of general election.”

“The status of VAT Account as collateral for the credit facility in the absence of prior approval and authorization from Debt Management Office and Federal Ministry of Finance in tandem with extant laws and regulation on granting of loan to State Governments.

“It is our expectation that your investigation will extend to individuals and corporate institutions that participated in the unwholesome act with a view of prosecuting the affected individuals and institutions with attendant cost and penalty.”