Former IG Pocketed N16 Million Interest From Police Fund – ICPC

An official of a Nigerian anti-corruption agency on Wednesday narrated how a former Inspector General of Police, Sunday Ehindero, pocketed the interest on police funds kept in a bank.

Olayinka Adebayo, an Investigating Officer with the Independent Corrupt Practices and other Related Offences Commission (ICPC) told the court that N16 million was paid to Mr Ehindero, as interest from the sum of N557.9 million.
Mr Adebayo, who was cross examined by Mr Ehindero’s counsel, Alex Iziyon, before Justice Mudashiru Oniyangi of an Abuja High Court, also alleged that the money was paid in cash to the former police boss by then Intercontinental Bank.
He also said that when the ICPC invited the accused persons, they could not account for how the money was spent.
Mr Ehindero pleaded not guilty to the six-count criminal charge that was preferred against him by the ICPC.
He was docked alongside a former Commissioner of Police in-charge of Budget, John Obaniyi.
Specifically, the anti-graft agency maintained that its investigations revealed that the accused person allegedly diverted the sum which was donated to the Nigeria Police Force (NPF) by the Bayelsa Government.
The ICPC said that the money was donated for the procurement of arms, ammunition and riot control equipment.
Mr. Adebayo had earlier testified that he led an investigation team which discovered that the money was paid by another former Inspector General, Hafiz Ringim, who was then Commissioner of Police in Bayelsa.
He equally alleged that the accused persons placed N200 million out of the amount in a fixed deposit account at the Intercontinental bank Plc, where it had generated an interest of N16.5 million.
Mr. Adebayo further said that during the cause of investigation, the team visited Bayelsa to get evidence of when the money was approved.
After hearing the testimony, Justice Oniyangi, adjourned the case to June 27, for continuation of hearing.