SPIP recovers $20m Hidden In a Nigerian Bank
The sum of 20 million dollars has been recovered from one of the commercial banks in Nigeria.
This position was made public by the Special Presidential Investigation Panel (SPIP) for the Recovery of Public Property on Wednesday.
Okoi Obono-Obla, Chairman SPIPAccording to the Head, Media and Communication, Ms Lucie-Ann Laha, in a statement quoted its chairman, Okoi Obono-Obla, as making the revelation during an audience with the Managing Director of Federal Housing Authority (FHA), Prof. Muhammad Al-Amin.
Obono-Obla suggested that the said sum is part of the 232 million dollars unremitted to the Federal Government’s Treasury Single Account (TSA) by an agency which was not mentioned.
The Chairman said, “While investigating illegal charges and deductions by commercial banks from 2009 to 2015, the panel had inadvertently stumbled upon 232 million dollars deposited in a commercial bank by a government agency.
“The agency subsequently failed to transfer the money to the TSA Account in line with government directives.”
Obono-Obla specifically argued that the financial institution had owned up to the impropriety and agreed to pay back the money in installments of 10 million dollars per month.
He added that, “The bank pleaded that bulk deduction would cripple it.
"As demonstration of good faith, the bank had paid an initial 20 million dollars to the Panel’s TSA Recovery Account domiciled with the Central Bank of Nigeria (CBN).
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