Recovered loot: Reps summon CBN, First Bank to give update on recoveries

The Ad-hoc Committee on the Assessment and Status of All Recovered Loot, Movable and Immovable Assets of the House of Representatives has demanded an explanation of all recovered loots so far.

To this end, the Central Bank of Nigeria (CBN), First Bank of Nigeria Polaris Bank, Sterling Bank, Nexim Bank, and Heritage Bank have been summoned by the Committee to offer explanations recovered and kept in their vaults.
The Committee, which was chaired by Hon. Adeogun Adejoro at a public hearing on Thursday, stopped representative of Polaris Bank after he introduced himself as the Legal Adviser of the bank.
The Chairman insisted that the committee could only speak with the Managing Director of the Bank, noting that the MD must appear before the committee.
“If your bank refuses to come out straight and continue to play pranks with us, we will issue a 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 to 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, said, “it was two 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, agreed with the submission by First Bank.”
The committee insisted on the appearance of heads of the affected agencies at an adjourned date slated for Wednesday next week.
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Published on: October 21, 2021. at: 9:29 pm

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