 A federal high court in Lagos has frozen a Kogi State salary bailout account domiciled in Stirling Bank, PLC, over a $20 billion loan obtained from the bank. Justice Tijani Ringim granted the order to freeze the account, and that is pending the conclusion of the investigation or possible persecution by the EFCC. The EFCC had approached the court for the order in an expatriate application. Counsel to the EFCC Abbas Mohammed told the court that the order was necessary so as to preserve the rest and obey further dissipation of the funds in the account. In his submission, Mohammed informed the court that the $20 billion loan was meant to augment the salary payment and running costs of the state government, but it was kept in an interest-yielding account with Stirling Bank. He added that instead of using the money for the purpose it was meant, Stirling Bank PLC, acting on instruction of the Kogi State government, transferred the money from the loan account and placed the same in a fixed deposit account. He concluded by saying that Stirling Bank PLC is yet to present any credible evidence to show that the facility is well secured.