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.... ....   Home  |  Cover Stories  |  National Newsreel  |  Politics  |  Business  |  Sports  |  World  | Contact  | Advert Rates  Towards a better life for the people Search The Archives   Cover Stories National News South West Niger Delta South East North Politics Business Sports World Viewpoints Features   Customers owe Bank of The North N30b —MD By Umar Yusuf Tuesday, August 24, 2004 YOLA — THE Bank of  theNorth Limited is being owed about N30 billion as the new management of the bank is contemplating opting to legal process to recover the debts, its Managing Director, Alhaji Garba Abdulkadir Yakasai has disclosed. Yakasai told correspondents in Yola weekend during an interractive session that since the inception of the new management of the bank, it has so far recovered N8 billion of the debt. He warned debtors of the bank to come up and pay their debt in their own interest or face serious consequences. The Managing Director also disclosed that names of officials of the organisation who colluded with the debtors to obtain the loans as well as the debtors are being compiled for prosecution and possible hand-over to the Economic and Financial Crimes Commission, EFCC. He added that the management of the bank is vigorously pursuing the debtors, vowing that no one or debtor will be spared no matter his status in the society. “The former management of the bank declared the debts as “bad debts” and the entire operations of the bank was brought to a stand still before it was rescued”, he stated. Commenting on the impending move for the recapitalisation of the banking sector, the Managing Director declared that the Bank of the North is only waiting for the take-off of the new policy. He added that the owner states of the bank as well as the entire people of the North are prepared for the challenge, saying that before the new policy takes off, the bank should have exceeded N25 billion capital. Earlier during a courtesy call on Governor Boni Haruna of Adamawa state, the Managing Director enjoined him to convince his colleagues who are operating their state accounts to return to the bank. He stated that the survival or otherwise of the bank depends on the patronage by its owner state governments and commended the Adamawa state government in that direction. Responding, Governor Boni Haruna promised to table the request at the Governors’ regular consultative meeting in Kaduna later in the year and assured the Bank of every necessary assistance and patronage.   Home  |  Cover Stories  |  National Newsreel  |  Politics  |  Business  |  Sports  |  World  | Contact  | Advert Rates © 1998- 2004. Vanguard Media Ltd.

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