The Economic and Financial Crimes Commission (EFCC) on Tuesday put the total amount of debts collected from debtors of the five troubled banks at over N87 billion.
Spokesman of the commission, Femi Babafemi, who gave an update on the debt owed the five banks, at the EFCC’s headquarters in Abuja, said the amount is the cumulative figure for the five banks.
“As at the close of work on Monday, the commission had recovered exactly N87,045,603,547.96 out of the over N749 billion being owed the banks,” Mr. Babafemi said.
Giving a breakdown of the total figure, the spokesman said Intercontinental Bank Plc has recorded the highest recoveries, totalling N28 billion from its debtors.
Afribank Plc is next in line, having recovered N26, 078, 477, 857.10; while Oceanic Bank International got back N21,735,000,000.
Union Bank Plc has also recovered N7,825,304,629.10 and Finbank Plc recovered N3,306,821,061.76.
The commission, last month, embarked on a debt collection drive to help the five troubled banks recover debts owed them by Nigerian businessmen.
The management of the banks were sacked by the Central Bank of Nigeria last month and four of the sacked managing directors, including those of Oceanic Bank, Cecilia Ibru; Finbank, Okey Nwosu; Union Bank, Barth Ebong and Afribank, Sebastian Adigwe are currently facing trial at a Federal High Court in Lagos for their roles in the indebtedness.