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| Abubakar Suleiman. |
The Economic and Financial Crimes Commission (EFCC) has interrogated Abubakar Suleiman, the Chief Executive Officer of Sterling Bank Plc, and two other senior executives of the bank over the ‘hidden’ N20 billion reportedly belonging to the Kogi State government.
Recall
that “Precious Eze’s Blog” reported that the anti-graft agency, in August
2021, stated that it had credible intelligence that funds alleged to be
proceeds of illicit activities were in an account named Kogi State Salary
Account with account number 0073572696 in Sterling Bank Plc.
The
money was supposed to be a rescue fund for the state to pay workers’ salaries,
but it was allegedly moved to an interest-bearing account as state employees
moan in poverty.
The
state government, on the other hand, categorically disputed the allegations.
The EFCC, on the other hand, claimed that the funds which were diverted had
been recovered and remitted to the Central Bank of Nigeria (CBN),
a transaction that the apex bank had apparently acknowledged.
According
to the EFCC, the apex bank informed the executive chairman of the EFCC,
Abdulrasheed Bawa, that the money had been received in a letter titled DFD/DIR/CON/EXT/01/099
and dated November 9, 2021.
“We refer to your letter of November 5, 2021 on
the aforementioned subject with Ref. No: CR:3000/EFCC/LS/CMU/REC-STE/VOL.4/047
and desire to confirm the following information of the receipt of the amount:
The commission stated, “Bank: Sterling Bank Plc; Amount: N19, 333, 333.36; Date
of receipt: 04 November 2021.”
Reports
gathered is that even though the money is in the CBN coffers, the Kogi State
government has continued to insist that it neither authorized the opening nor
operated the bank account an assertion confirmed by Sterling Bank.
Let it be known that the Kogi State Government has disbursed its bailout
loans for the purpose of which it was granted as at October 2019,” said Kogi State commissioner for
Information and Communication, Kingsley Fanwo and there is, therefore, no hidden
bailout funds/loan belonging to Kogi State that is capable of being returned to
the CBN or frozen by order of court. The EFCC knows this, which is why it
withdrew the suit it filed in court on the bailout fund.”
The Kogi State House of
Assembly had also summoned the CEO of the bank to appear before
it in person for clarification on the N20 billion bailout fund.
However, Sterling Bank had admitted that Kogi State Bailout Account exists in
its record and “categorized under the account type ‘Intervention Fund,’” even
though it was not opened by the state government or at its instance.
According
to inside source, rising from this development, the EFCC invited and
interrogated the Sterling Bank boss, Abubakar Suleiman alongside two other
officials of the bank for several hours to get the true picture of the
circumstances around the said account. Abubakar Suleiman and other officials
were released after intense interrogation and they were to return anytime the
EFCC needed them on the matter.
It
was however gathered that Abubakar Suleiman has allegedly made a useful
statement to the commission while investigation is still on.
“The bank’s officials were grilled for several
hours by the EFCC on the matter and going by their statements, heads may roll
soon,” a source
said.
Speaking
further, the source divulged, “If the bank says the account was not
opened and operated by the Kogi State government, then something is fishy and
the bank must answer to it.”
“Who authorized the opening of the fixed deposit
account and when? Who are/were/was the signatory to the account? How much had
been withdrawn from the account since 2019? And who is keeping the N666.7
million which made up the balance of N20 billion initially said to be deposited
into the bailout account? These are some of the questions the EFCC is trying to
unravel.”
Recent
events have however placed the Abubakar Suleiman led Sterling Bank nulli
secondus with scandals. The troubled lender is responsible for everything from
fraud to sloppy balance sheets and other nefarious acts, making it almost
impossible to bank with the supposed “One Customer Bank” with
both eyes closed.
As at
press time, both EFCC spokesperson, Wilson Uwujaren, and Sterling Bank were yet
to respond to inquiries.
CULLED!
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