Skip to main content

Presidential panel recovers N118m from 2 Commercial Banks

The Special Presidential Investigation Panel for the Recovery of Public Property (SPIP) says it has recovered about N118 million from two commercial banks in the country.

The panel’s Head, Media and Communication, Ms Lucie-Ann Laha made this known in a press statement in Abuja on Tuesday.

According to her, the recoveries were made as a result of findings by the panel’s investigation into accounts of the Federal Government Agencies operated by commercial banks from 2009 to 2015.

“The panel refrains from naming the banks in question, in order to prevent panic among their customers.”

She said that the panel had earlier assigned a team of forensic auditors, the task of x-raying operations of Federal Government accounts domiciled in all commercial banks in the county within that period.

This, Laha said, was with a view to establishing whether or not such accounts had been subjected to arbitrary or excessive charges, interest shortfalls, accrued interests or other illegal dealings.

“Arising from its findings, the panel, in a letter dated January 19, 2019, issued demand notices to the banks that were found wanting, for the amounts the audit team had arrived at.

“The banks however, disagreed with the figures quoted by the panel’s auditors, following which the panel and the banks held joint accounts reconciliation meetings.

“It was then ascertained and agreed that the first of the two banks would refund N40, 336,186.

“It was also agreed that the second bank will refund N77,048,825 in three installments from May to July 2019.

“The first of the banks in question which has since paid its indebtedness being the sum of N40, 336,186 into the panel’s Recovery Account domiciled with the Central Bank of Nigeria (CBN), also agreed to refund the sum of $56,919.10, to the coffers of the Federal Government,” Laha said.

ALSO READ: Nigerian doctors least paid in the world - Official

The spokesperson however, said that these recoveries were different from the $20 million earlier reported by the panel.

She further said that the panel remained resolute in its commitment to recover looted public property and bring to book all who contributed to the economic adversity of Nigeria in line with its mandate.

ridoola.blogspot.com.ng
Labels:

Comments

Post a Comment

Popular posts from this blog

Okpebholo suspends A-G & LG Chair under 3 months over finance dealings

The Edo Government has announced the suspension of Samson Osagie , its Attorney-General and Commissioner for Justice, and Damian Lawani , chairman of the Local Government Service Commission. Mr Musa Ikhilor , Secretary to the State Government (SSG) announced the suspension in a statement in Benin on Thursday morning. ALSO READ: Kano Govt suspend 2 school principals for alleged absenteeism, negligence Ikhilor said the two-state top officials were suspended over allegations of “grave official and financial interactions”. Okpebholo suspends Edo Attorney-General and LG Service Commission Chairman According to him, the suspension, which takes immediate effect, is pending the conclusion of an investigation into the allegations. The SSG said; It is hereby announced for the information of the general public that Gov. Monday Okpebholo has approved the suspension from office of the Chairman of Edo Local Government Service Commission, Damian Lawani and Commissioner for Justice, Samson Os...
Post a Comment
Read more

List of America's one-term presidents & why they were not re-elected

U.S. President Joe Biden becomes the most recent entrant in a list of president who served for only one term. U.S. President Joe Biden announced that he would not be seeking re-election for a second term in the November 5, 2024 elections. Biden, in a statement said that he would be focused on completing his remaining term, endorsing his Vice President Kamala Harris as his most preferred nominee for the Democratic Party to take on former President Donald Trump. Joe Biden endorses Kamala Harris as Democrats' candidate after withdrawing from race [X:@JoeBiden] Biden now joins a list of former U.S. Presidents that only served for one term. John Adams (1797-1801) The second president of the United States, John Adams was a Founding Father who faced significant challenges during his presidency, including conflicts with political adversaries and foreign nations. His support for the Alien and Sedition Acts, perceived as a violation of civil liberties, contributed to his unpopulari...
Post a Comment
Read more

Tinubu appoints MKO Abiola's son, Jamiu as SSA on Linguistics & Foreign Matters

President Bola Tinubu has appointed Jamiu Abiola as the Senior Special Assistant to the President on Linguistics and Foreign Matters. The appointee is one of the children of the late Chief Moshood Kolawole Abiola , the winner of the 1993 presidential election annulled by General Ibrahim Babangida . According to a statement by Segun Imohiosen , the Director of Information and Public Relations, Office of the Secretary to the Government of the Federation on Wednesday, November 27, 2024, Jamiu's appointment took effect from November 14, 2024. Imohiosen said the appointment aligns with the provisions of the Certain Political and Judicial Office Holders (Salaries and Allowances, etc) Act 2008, as amended. Until his recent deployment, the appointee served as the Special Assistant to the President of Special Duties in the office of the Vice President. Tinubu tasked Jamiu to work closely with the Federal Ministry of Foreign Affairs and bring his wealth of experience to bear in his new ...
Post a Comment
Read more