Thursday, March 23, 2023
HomeBusinessReps Summon CBN, First Bank, Others Over Recovered Loot

Reps Summon CBN, First Bank, Others Over Recovered Loot

The Central Bank of Nigeria, First Bank, Polaris Bank, Sterling Bank, Nexim Bank, and Heritage Bank have been summoned by the House of Representatives Ad-hoc Committee on the Assessment and Status of All Recovered Loot, Movable and Immovable Assets to account for the monies recovered and in their possession.

The committee asked the representative of Polaris Bank, Northern Region, who identified himself to the panel as the Bank’s legal counsel, to speak to the invitees.

However, after his introduction, the Committee’s chairman, Hon Adeogun Adejoro, denied him the right to speak further in the public hearing.

He said: “You are not
permitted to speak in this committee”, we need the MD of Polaris Bank to appear in this committee by himself”.

“If your Bank refuses to come out straight and continue to play pranks with us, we will issue warrant of arrest against your MD. You people can take somebody’s money and start playing with it? 32 Million Dollars is what we are talking about here,” he stressed.

According to the Legal advisor of Polaris Bank, “Monies have been paid to the CBN account, and the CBN has the evidence”.

The Chairman of the Committee, without hesitation asked the CBN director of Money if such was paid into the CBN account by Polaris Bank, an allegation the Director vehemently refuted, saying “the alleged $32 Million is still with them, nothing was paid into the CBN account”.

Hon. Adeogun therefore warned Polaris to be mindful of the lies they are telling to the government. He also said, “Polaris Bank Cannot be comfortably owing the federal government and refuse to pay, because, the money is supposed to be used to fund the 2022 budget”.

The committee also summoned the executive director of First Bank Plc, Mr Abdullahi Ibrahim to explain some three pending issues unexplained from his payment.

The director who corrected them, saying, “it was two(2) unexplained issues, which he explained thus: “Mr Chairman, N2.3 billion was remitted, but was not supported in any bank statement. Another N100 million was deposited as well, but it was not recorded. “NNPC advised it should be closed”.

“As far as this recovered loot is concerned now, First Bank is not involved in such again, it has been settled. NNPC therefore concored with the submission by First Bank.

The committee, led by Hon Adeogun Adejoro, therefore mandated some heads of agencies to appear at its next sitting, just as he adjourned the investigative hearing to next week Wednesday.

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