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EFCC probes Saraki over SGBN
ERASMUS ALANEME, Abuja
ECONOMIC and
Financial Crimes Commission (EFCC) is investigating Gov. Bukola Saraki of Kwara
State and his father, Dr. Olusola Saraki, over their alleged involvement in the
distressed Societe Generale Bank of Nigeria (SGBN).
Managing Director of Nigeria Deposit
Insurance Corporation (NDIC), Mr. Ganiyu Ogunleye, disclosed this yesterday at a
press briefing in Abuja.
Asserting that SGBN’s licence has not yet
been revoked despite its unhealthy status, Ogunleye said government was awaiting
the outcome of the EFCC probe of the bank largely owned by the Saraki family.
He said the belief by sections of the
public that the government was covering up for the Sarakis and that the
government was supposed to pay the depositors, was erroneous.
He noted that before the bank’s present
condition, it has been out of the clearing house and was not doing any serious
business, pointing out that these were some of the problems the law enforcement
agents and the EFCC were presently investigating.
The NDIC boss reiterated that since the
bank’s licence was not revoked, it is still the responsibility of the bank’s
management to pay its depositors including the captain of Super Eagles, Austin
‘Jay Jay’ Okocha.
He said the NDIC has paid N3.3 billion
insured deposits out of the N5.2 billion total insured amount as at last October
to depositors of 35 shut banks, urging other depositors to come forward and
collect their deposits as the corporation can no longer hold the funds
perpetually.
According to him, by 1999, a total of
2,464 cases were pending before the Failed Banks Tribunals, out of which 716
cases comprising 672 civil and 44 criminals cases were disposed of.
Mr. Ogunleye said "the new minimum
capitalization requirement of N25 billion recently announced by the Governor of
the Central Bank of Nigeria (CBN) which is expected to be met through
consolidation will likely result in a shake-out in the banking industry, at
least in the short-run, with the resulting financial burden on the corporation.
We are not pretending that there may not be problem; with the information at our
disposal we are ready for the outcome and will not be caught unaware."
Also speaking, Minister of State for Finance, Mrs. Nenadi
Usman, stated that the government in its bid to kickstart the development of the
economy introduced the National Economic Empowerment and Development Strategy
(NEEDS) aimed at ensuring poverty reduction and wealth creation in the country.
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