ICPC Interrogates CBN, OAGF Officials Over Missing $3.4b IMF Loan


ICPC has interrogated CBN and OAGF Officials over the alleged missing $3.4b IMF Loan.


NaijaOnPoint Nigeria reports that three officials – two from the Central Bank of Nigeria (CBN) and one from the Office of the Accountant-General of the Federation (OAGF) – have been interrogated over $3.4billion loan granted to Nigeria by the International Monetary Fund (IMF), which is alleged.

This Nigeria news platform understands that they were interrogated last week by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).



The anti-graft agency has also invited another set of officials from the Federal Ministry of Finance for interrogation.

The commission has retrieved vital documents on the loan, which was meant to finance the budget and to manage COVID-19.


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.

A source told The Nation that the probe of the loan was already in progress.

It 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.


“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.”


SERAP yesterday 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.”


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

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

Attorney-General of the Federation (AGF) and Minister of Justice, Mr. Lateef Fagbemi, has been joined in the suit as respondent. No date has been fixed for the hearing of the suit.