A Magistrate Court in Lagos yesterday, issued an order permitting the Economic and Financial Crimes Commission, EFCC, to detain the former managing directors of Bank PHB and Spring Bank for two more weeks.
Ms Oyindamola Ogala of the Ikeja Magistrate Court, gave separate warrants for the remand of Francis Atuche of Bank PHB and Ojo Charles Enaholo, of Spring Bank. The warrants read that they be both remanded in EFCC custody till November 3rd 2009.
“You, the said police officers, are hereby commanded to convey the defendant to the said prison, and there to deliver him to the Superintendent thereof, together with this warrant, and you, the Superintendent of the said prison, to receive him into your custody, and keep him until the third day of November, 2009,” read the court order signed by the magistrate sitting in court 2.
The two bank executives were arrested last week by EFCC operatives after the CBN announced they were found guilty of facilitating the dwindling fortune of their banks.
Confirming the court order, Wilson Uwuigiaren of the EFCC, said the court order was necessary to enable the Commission conduct further investigation into the involvement of the two ex-bank chiefs (who were both arrested last week) in connection with the non-performing loans they gave out and their total disregard of corporate governance issues.
He said the suspects will be detained at the EFCC office at Okotie-Eboh Street in Ikoyi, Lagos State.
Asked if the Central Bank and the Nigerian Deposit Insurance Commission were aware of the secret meetings held between the EFCC and bank debtors on Monday, Mr. Uwuigiaren said the EFCC had the legal backing to conduct secret interrogations of bank debtors at undisclosed locations without having to consult other government establishments.
“In fact, we do not need to consult with either the Central Bank or the Nigerian Deposit Insurance Corporation,” said Mr Uwuigiaren, who spoke on behalf of the EFCC spokesperson, Femi Babafemi.
On Monday, the EFCC held a secret meeting at an undisclosed venue with bank debtors, excluding the media and the public, in its bid to recover the debts owed the banks. The EFCC refused to give details of the meeting, saying the invited debtors were reluctant to be accosted by the media.
History
In June 2009, Sanusi Lamido Sanusi was confirmed as the new governor of the Central Bank of Nigeria. He immediately embarked on the cleansing of the banking sector.
The process led to the sack of five bank MDs/CEOs on August 14 for acting in a manner detrimental to the interest of their depositors and creditors. And after a second round of audits, three more bank chiefs were removed on October 2, bringing the total number of sacked bank executives to eight.
The affected MDs/CEOs are: Cecilia Ibru (Oceanic Bank); Erastus Akingbola (Intercontinental Bank); Bathlomew Ebong (Union Bank); Sebastian Adigwe (Afribank); Okey Nwosu (Finbank); Francis Atuche (Bank PHB); Ojo Charles Enaholo (Spring Bank); Ike Oraekwotu (Equitorial Trust Bank).
Reader Comments (36)
post a comment
* = Required information