Mr Okiri, who is being investigated by the Independent Corrupt Practices and Related Offences Commission, told Channels Television on Monday that there was no iota of truth in the allegation.
He insisted that the said fund was utilised for the purpose it was allocated.
According to the former Inspector General of Police, the balance of the fund was in the account of the commission.
“The allegation by a suspended staff of the commission is false and malicious,” he stressed.
Mr Okiro, who headed the Nigeria Police Force from 2007 to 2009, expressed optimism that the commission would do due diligence in its investigation.