The Senate has given assurance that nobody will be protected. Photo: NEXT

There will be no sacred cows in CBN's debt recovery drive

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Nobody will be protected from the debt recovery efforts of the Central Bank of Nigeria (CBN) and the Economic and Financial Crimes Commission (EFCC), the Nigerian Senate said through its spokesperson, Ayogu Eze (PDP Enugu State), after the second closed-door meeting in three days with the Governor of the CBN, Lamido Sanusi, on Thursday. The chairperson of the Economic and Financial Crimes Commission, Farida Waziri, was also present at the meeting.

"We assured him (Sanusi Lamido) that if, in the course of his investigation, he finds that any of us is involved, such a person will be left to face what others are facing." Mr. Eze said. "Nobody will be protected; we did give him that assurance." Neither Mr. Sanusi nor Mrs. Waziri entertained any questions from reporters after the meeting.

The Senate official said after meeting with the CBN governor and the EFCC chairperson behind closed doors and listening to them painstakingly about some of the discoveries they have made, (and) about the methods they have used to achieve the results they achieved, "we are today stating categorically clear that there is nothing that we have found in the process that is against the law. What the EFCC has done is correct and what CBN governor has done is also right in the eyes of the law," Mr. Eze said.

Mr. Eze also said that the Senate has resolved to give the two officials all the legislative backing and infrastructure they may need to battle corruption in the country.

He said: "We are very committed to this fight and we will support them as they go ahead. We are still going to take on the Attorney General of the Federation when he returns and we conclude we are likely going to come up with our final position on what we think should be the way forward in terms of legislative attitude towards these agencies to bringing corruption to a halt.

"The CBN governor has assured us that in spite of the fact that he has received petitions and pressures from notable Nigerians to change the course of his investigations, he has refused to be deflected from the assignment he has set himself upon and we have also resolved to back him all the way." Mr. Eze said.

He said that in spite of the many "lip services" that have been paid to the fight against corruption in the past, the effort of the present crop of anti-corruption fighters appears to have paid off more than any other effort in the history of this country and the Senate is satisfied with this development.

"In one month, about a hundred and something billion was recovered by the EFCC," he said. "In the past, we have seen so much flash and dash, no conviction, no recovery."

Senate doors are open

He, however, said that if any of the affected bankers have issues they are not satisfied with, they can walk up to the Senate to complain, even though the upper chamber has no powers of adjudication.

"This is Nigerians' Senate; if there is any group that is desirous of bringing their case to the Senate, the Senate will entertain it," Mr. Eze said.

The CBN, on Wednesday, released another batch of names of many high profile Nigerians who are heavily indebted to the banks.

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Reader Comments (23)


Posted by Big Boss on Oct 16 2009

When did this Senate change its mind?

Posted by Manof on Oct 16 2009

dont mind them. Before they were crying wolf. Now they have extorted a safe haven not to be exposed. Corrupt bastards, all of them.

Posted by Sir JEREMIAH OBIORA on Oct 16 2009

INFACT''THE PRESENT/CURRENT SENATE POSITION''ON THIS WAR AGAINST CORRUPTIONS IN THE FEDERAL REPUBLIC OF NIGERIA IS HIGHLY WELCOME......... THANKS AND MAY GOD BLESS NIGERIA!!!

Posted by Tunde Shoyombo on Oct 16 2009

Na today! All movement, no action.

Posted by Ike Chukwuma on Oct 16 2009

I tire o.Is only God will save of us from thier hand

Posted by Aderemi Adetola Oduyemi on Oct 16 2009

Toothless dog can only bark and not bite.Bloody looters!.

Posted by slimTEE on Oct 16 2009

I realy hope this move is sustained and Nigeria can be, at least, a bit free of corrupt practices. God bless Nigeria

Posted by Stanley on Oct 16 2009

Wonders will never end. Senates having concluded a shielding deal with Sanusi just now have given their support to fight corruption. They will be disappointed because Sanusi will still publish their names. No hiding place for the wicked. Nigeria will only move forward when we start putting the Country before our selfish interest.

Posted by Someone on Oct 16 2009

The CBN publishing the list of debtors when those banks have not liquidated is injurious to the law. That's a classic contract disclosure lawsuit.

Posted by SEUN on Oct 16 2009

Thou Hypocrites, first cast out the beam out of thine own eye; and then shalt thou see clearly to cast out the mote out of thy brother's eye. Bunch of hyprocrites called "senators".

Posted by Segun on Oct 16 2009

Ayogu Eze must be a judge in his court informing us that there's nothing wrong in the action of the Governor of CBN. Why is he usurping the function of the court? Ayogu Eze should allow the court decide whether Sanusi's actions are right within the ambit of the law. He should focus on the law making.

Posted by mike on Oct 16 2009

The Legislators must prove that this is not another "lip service" they must start the process by cleaning up their own house first

Posted by Damulak on Oct 16 2009

'Good comments'! Should we not be praying for ALL the PRINCIPAL ACTORS in this matter rather than using our mouths as if we can discern (know) the hearts of men. PLEASE, LET US PRAY! Thanks.

Posted by kingsley Ezejide on Oct 16 2009

it is easier say than done.

Posted by Emmanuel on Oct 16 2009

I don't even know that after consolidation in the Bank industry and there will be problem in the sector again. This is the real time for us to know the names of banks that will be operating in this great Country - Nigeria. It is a shameful thing that Nigeria banking sector shaking again. There will be no hiding for these debtors.

Posted by Funsho Bamidele on Oct 16 2009

We work with what we see. The problem with us is that we seem to pretend to know too much. If the Senate has decided to back these agencies so be it. We should be positive and expect that things will gradually improve. An economy being run by these Bank Theif Executives cannot see any meaningful growth talk less of development. We have really been bled dry and probably would not have survived an implosion if Lamido Sanusi had not stepped in. I think we should start to look in the direction of dimunitive fellows like this for our survival as a nation. Remember Ribadu and El-Rufai, now Sanusi. They surely have something in common. God bless Nigeria.

Posted by Francis Afolalu on Oct 16 2009

Senate?We go all "siddon and look" for the leopard will never change its spots,but you know the scriptures say wonders shall never end,may be...

Posted by Third Eye on Oct 16 2009

Senate never carry out dem proper functions effectively- dem wan begin delve into wetin no suppose officially concern dem-SENATE INDEED!

Posted by Emanuel on Oct 16 2009

Me i no fit shout, we go dy dome as dy wantam

Posted by mr ben on Oct 17 2009

it`s a shame.lets see how people decive people will manipulate nigerian out of this scam.

Posted by ibrahim Dikko, Scotland on Oct 18 2009

This is wonderful news. Kudos to Sanusi and Waziri.

Posted by adesola on Oct 22 2009

insincerity on the part of our leaders is our biggest problem

Posted by Mutiu on Oct 23 2009

I hope this is not just a lip service to the CBN warlord.My advise to him(Sanusi), let him lear from what happened to Ribadu. Who says the senate cat eat their words and face him later. Lets watch and see.



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