Operatives of the Economic and Financial Crimes Commission are probing about N117 billion suspicious transactions by the Rivers State Government in the last three years.
In this regard, the anti-graft agency has invited four officials of the State Government for questioning.
The money was said to have been withdrawn largely over the counter by designated government officials.
Two of those scheduled to be interrogated are an official in charge of Finance and Accounts at the Government House in Port Harcourt and a cashier.
The withdrawals were said to have been made in tranches of N10 million, with as many as 50 cheques cashed in a day.
The sources said it was a case of “gross violation” of the Money Laundering (Prohibition) Act of 2011.
One of the sources told newsmen in Abuja on Sunday: “Based on intelligence report, the EFCC swung into action.
“Our findings indicated that the withdrawals were made in cash from the state accounts mostly by one person.
“There are no records of what the cash was used for.
“We are working on clues that it was diverted.
“The EFCC team has obtained all the records of the withdrawals, including date and time.
“For instance, on June 8, 2015, barely few days in government, about 45 cheques amounting to N450 million were cashed over the counter for no justifiable purpose.
“Also, on June 9, 2015, about 50 cheques, amounting to N500 million, were withdrawn.
“We will soon release the details of findings by our team.”