Sustained investigation into the alleged multi-billion sleaze in the banking industry by the Economic and Financial Crimes Commission {EFCC} has reportedly revealed an alleged fresh N50 billion scam involving a wanted former Group Managing Director and sacked five directors of new generation Bank.
The money, which was said to have been shared among the five directors, was believed to be part of the missing N1 trillion in the sector. Sunday Tribune also gathered that the trial of those fingered in the alleged scam as well as other sacked bank chiefs would commence next week.
The GMD in question, had been declared wanted by the anti-corruption commission, following his escape in the wake of the Central Bank of Nigeria’s {CBN} hammer falling on bank chiefs of eight banks.
His colleagues that suffered the same removal fate were rounded up by the anti-corruption commission and put on trial before a Federal High Court sitting in Lagos.
The bank boss, who is being accused of almost running the bank aground with alleged reckless unethical handling of investors, depositors and shareholders’ funds, is also said to have been an active participant in the alleged fresh sleaze discovery, with his own take-home for playing along, said to have been in British pound-sterling.
Very competent sources in the commission told the Sunday Tribune that while N1.2 billion was shared by the five former directors in March, 2008 as bonus, another N1.8 billion was shared among them in the same month.
It was learnt that three months after the controversial bonus, each of the directors took N8 billion each, which was said to have been listed in the documents already in the possession of the anti-graft commission, as credit facility.
The commission, according to Sunday Tribune sources, discovered that the controversial credit facility was never applied for by the beneficiaries, and no collateral put down for same.
It was gathered that apart from due process not being followed in the granting of the facility, there was nothing to show that any loan process even took place before the monies were paid into the beneficiaries’ accounts.
Fresh multi-billion fraud is also said to have been uncovered in another bank whose leadership was also replaced by the apex bank. Sunday Tribune sources disclosed that figures are being computed on the alleged fresh scam discoveries so as to know how much of the investors’ funds had been criminally converted into private use.
When contacted, commission’s spokesperson, Mr. Femi Babafemi pleaded for more time to confirm the figures.