From Idris Ahmed, Lokoja.
Global Times Nigeria report that the Managing Director/Chief Executive Officer of Sterling Bank Plc, Abubakar Suleiman, may be arrested if he fails to appear before the Kogi state House of Assembly on Tuesday next week, over the alleged N20b bailout fund.
The House had invited the Managing Director a fortnight ago over the 20billion naira Bailout Fund the Bank claimed it will send back to the Central Bank of Nigeria, but failed to honour the invitation.
When Plenary resumed on Tuesday, the Regional Manager of Sterling Bank, Enejo Ibrahim and Counsel to the Bank, Olukayode Enitan SAN were at the Assembly to represent the Managing Director, but were rebuffed as the Speaker, Prince Matthew Kolawole, said they will not be allowed to speak except they tender a letter from the Managing Director authorizing them to represent him.
The Speaker noted that “the House is giving the bank Chief Executive Officer one week to appear before it and any attempt to dishonour the invitation will make house to use every legal means to make him appears before it.”
He pointed out that the claim that the State Government fixed the Bailout Fund in an account with the bank was an embarrassment to the Government and people of
the State.
According to him, investigations by the House Committee on Public Accounts revealed that the allegations were baseless and untrue, adding that the Assembly will get to the root of the matter.
It would be recalled that the Economic and Financial Crimes Commission, EFCC, recently dragged Kogi state government to a Lagos High Court over an alleged loan obtained from the Sterling Bank as bailout.
Global Times Nigeria had also reported EFCC alleged that the said loan facility granted by the bank was kept in a fixed deposit account yielding profits instead of utilising it for the purpose it was meant for.
When hearing commenced midway, EFCC withdrew it’s case, as the Court ordered that the same amount kept in the deposit account of Sterling Bank be returned to the Central Bank of Nigeria (CBN).
Kogi state government, however said it has been vindicated as there was no such money it borrowed initially.
