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LequteMan
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The Nigerian Senate will on Monday begin an investigation into how the over N150billion assets forfeited by the former Managing Director of the defunct Oceanic Bank Plc, Mrs. Cecilia Ibru, are being managed, the Nation says.
Following a petition which alleged certain irregularities in the execution of the bank's consolidation, management of the Central Bank of Nigeria, the Asset Management Corporation of Nigeria and the Economic and Financial Crimes Commission are expected to appear before the senate to clarify some issues.
The CBN and AMCON had seized the assets in property and cash from the erstwhile Managing Director of the defunct Oceanic Bank International Plc, Mrs. Cecilia Ibru, following an EFCC investigation which resulted in her conviction for fraud by a court of law.
He added that the committee was also interested in the recovery of assets from loan defaulters and convicted managing directors of the defunct Oceanic Bank International Plc, Intercontinental Bank Plc, Afribank Plc and Bank PHB.
The senator explained that a correspondence from the committee to the two federal government agency specified that the petition before it alleged that the funds and properties recovered by the Economic and Financial Crime Commission from Ibru were not remitted.
He also said that the properties and shares were never advertised for sale and the proceeds were not remitted to the banks and AMCON.
#CBN #AMCON #EFCC #Nigeria
Following a petition which alleged certain irregularities in the execution of the bank's consolidation, management of the Central Bank of Nigeria, the Asset Management Corporation of Nigeria and the Economic and Financial Crimes Commission are expected to appear before the senate to clarify some issues.
The CBN and AMCON had seized the assets in property and cash from the erstwhile Managing Director of the defunct Oceanic Bank International Plc, Mrs. Cecilia Ibru, following an EFCC investigation which resulted in her conviction for fraud by a court of law.
He added that the committee was also interested in the recovery of assets from loan defaulters and convicted managing directors of the defunct Oceanic Bank International Plc, Intercontinental Bank Plc, Afribank Plc and Bank PHB.
The senator explained that a correspondence from the committee to the two federal government agency specified that the petition before it alleged that the funds and properties recovered by the Economic and Financial Crime Commission from Ibru were not remitted.
He also said that the properties and shares were never advertised for sale and the proceeds were not remitted to the banks and AMCON.
#CBN #AMCON #EFCC #Nigeria
