The 16 executive directors of the five banks being detained by the Economic and Financial Crimes Commission (EFCC) over mismanagement of loans are yet to meet their bail conditions. The directors, sacked by the CBN Governor, Mr Sanusi Lamido Sanusi, on Aug.14, are those of Union, Oceanic, Intercontinental banks, as well as Finbanks and Afribank. Spokesman of the anti-graft Commission, Mr Femi Babafemi made this known yesterday during an interactive session with newsmen in his office at the commission’s office, Awolowo road, Ikoyi, Lagos.
Babafemi also stated that any of the detainees who are able to meet the bail conditions would be released without further delay, highlighting that the purpose for which the commission relocated to Lagos in the past few days has been partially successful. He said some of the debtors are making serious efforts to pay back their debts to the banks, stressing that as at Friday, not less than N19billion has been recovered either through personal commitments or outright payment.
With this development, most of the defaulters and bank executives may spend the weekend in custody.
According to him, the commission has been able to recover N10 billion for Union Bank as at Friday, adding that the payment includes a N3 billion commitment by the Chairman, Ikeja Hotels, Mr Felix Ibru, who promised pay the amount in two instalments of N1billion as first instalment and N2 billion as second instalment.
Similarly, Mr Femi Otedola of Zenon Oil was said to have made a commitment of N4 billion, out of which N3 billion is to be paid to Union Bank and N1 billion to Afribank as part of his indebtedness to the banks.
Babafemi said that about N3 billion was also recovered for Intercontinental Bank from undisclosed debtors, saying that an Ibadan-based businessman, Alhaji Arisekola Alao was in at the Commission to make an undisclosed commitment, having earlier paid some amount of money during the week.
No fewer than four bank debtors, namely: Femi Otedola, Felix Ibru, IRS Airlines, Chanchangi Airlines and Alhaji Arisekola Aloa, who was chauffeur-driven into the premise of the anti-graft commission. Attempts by journalists to speak with him on his mission to the commission proved abortive as he pleaded that he was fasting.
Meanwhile, counsel to Mr Cecilia Ibru, Chief Adeniyi Akintola (SAN), said that it was unacceptable for the Commission to detain his client perpetually in its cell beyond 48 hours, saying that the action amounted to a disregard of court orders and advised otherwise.