N2bn MSME Fund Missing In Kogi, Gov Orders Probe

Like the MSME Fund created in Kogi, Lagos state through Governor Ambode recently launched a 25bn Graduate Unemployment Trust Fund.

Similar to the Kogi MSME Fund, The Lagos fund is meant to tackle effectively, the problem of  unemployment by granting individuals soft loans. The loans are engineered to make these individuals self-employed thereby, creating wealth.

Speaking during the signing ceremony at the Lagos house, Ikeja Governor Ambode stated that each year, the state government would inject N6.25 billion into the fund for a period of four years, making it N25 billion cumulatively.

As we applaud the efforts of the Lagos state towards tackling this recurring issue of unemployment, we cannot but dread a similar issue as that of Kogi state. Hopefully, Lagos state would learn from the pitfalls that plagued the Kogi MSME Fund.

Kogi State Governor, Alhaji Yahaya Bello has ordered full investigation into the sudden disappearance of N2 billion MSME fund. The governor made this known yesterday in Lokoja after an unscheduled visit to some ministries in the state where the cans of worms at the State Ministry of Commerce and industry was revealed.

Vanguard gathered from sources in the ministry that the governor may have been privy to the issues to pay such unscheduled visit, adding that the sleaze was in connection with the Kogi State/CBN MSME which was allegedly diverted by some top directors in the Ministry.

However, Bello immediately directed the Acting Permanent Secretary of the Ministry to turn in a comprehensive report on the fund. He also asked the ministry to collaborate with the Office of the Accountant General of the state for thorough investigation promised to get to the roots of the fraud.

Bello assured that he was ready to prosecute anyone found wanting in the MSME-gate that has shaken the ministry to its foundations, reiterated the determination of his administration to root out corruption from the civil service. Vanguard also gathered that palpable tension has enveloped the civil service following the 30 days compulsory leave placed on the state Head of Service, Mr. Moses Atakpa.

Source: Vanguard Nigeria

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