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Zenith Bank In Alleged N73.2BN Scandal As Imo Concerned Citizens Demand Refund

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Zenith Bank In Alleged N73.2BN Scandal As Imo Concerned Citizens Demand Refund

Some concerned citizens of the Imo State under the aegis of Financial Advisory Committee (FAC), have demanded a probe of an alleged massive theft and rape of the Imo State treasury by a Tier 1 bank, Zenith Bank Plc over N73.28 billion and other financial institutions to the tune of N112 billion.

The concerned citizens, in a letter dated April 20, 2021 and addressed to the Speaker of the Imo State House of Assembly and copied the State Governor, Senator Hope Uzodinma amongst others, protested the appointment of a former staff of the Zenith Bank Plc, Dr Doris Nkiruka Uzoka-Anite, as the State Commissioner for Finance.

The petitioners in the letter also copied the Governor of the Central Bank of Nigeria (CBN), former Governors Emeka Ihedioha, Rochas Okorocha, Ikedi Ohakim and Achike Udenwa as well as the Nigerian Bar Association (NBA), Nigeria Union of Journalists (NUJ), Nigeria Labour Congress (NLC) and the Nigeria Union of Pensioners in the state among others.

They specifically asked the State Government to recover from Zenith Bank the sum of N73.28 billion and N112.82 billion from other banks allegedly skinned off Imo Dtate treasury.

The petitioners in their letter to Governor Uzodinma said; “With all these allegations against Zenith Bank and with no clarity as to the outcome of the review process, a staff of the same bank in the person of Dr Doris Uzoka-Anite, was seconded as Commissioner for Finance with the additional mandate of coordinating the economy of the state.

The concerned citizens further averred that; “While it is the prerogative of the Governor to make appointments, we believe they should not be inimical, antithetical or overwhelmingly against the progress of the state.

“This appointment clearly appears so and seems like a reward to Zenith Bank for its fraud against Imo State. It is worthy to note that all the infractions contained in the report were committed against Imo State Government under the stewardship of a former staff of Zenith Bank, who was equally appointed Commissioner for Finance in the Governor Rochas Okorocha administration,” the petitioners noted.

According to the group, they urged Governor Uzodinma, the Speaker of the State Assembly and others copied to as a matter of state interest and urgency act fast to recover the alleged stolen money from Zenith Bank and other accused financial institutions.

The Concerned Citizens declared that it would be a disservice and insult to the people of Imo State if Zenith Bank is not made to refund all the alleged stolen money.

Former Governor Emeka Ihedioha had on 6 June, 2019, set up the Financial Advisory Committee (FAC) to among other things, resolve the issue of financial infraction that occurred in the state under the administration of former Governor Okorocha.

The FAC was directed to ascertain and document the locations and balances on all bank accounts operated by the Imo State Government, its ministries, departments and agencies as at May 29, 2019.

Ihedioha had also directed the FAC to critically review all financial transactions and where necessary a forensic audit with a view to ascertaining sources of funds and the application of same as well as to review disbursement and applications of states resources to ascertain the propriety of levies, charges on accounts, interest payment of loans and deposits, year applicable authorization etc.

The FAC members equally noted that most of the bank charges against the state were far in excess of what was allowed by the extant banking regulations and guidelines underscoring the incestuous relationship between the former Commissioner for Finance and his former employer being Zenith bank.

The petition further states; “History beckons on the Hon. Speaker and the entire House of Assembly to pursue and recover these sums in the best interest of the state and for the sake of posterity”.

In a related development, the consortium of IMOFAC CONSULTANTS 2019 had also written to Governor Uzodinma, demanding payment on Zenith Bank balance of the minimum recoverable amount.

In the letter dated December 21, 2020, the consortium noted that 10 forensic audit firms were engaged by the state in September 2019 and therefore demanded the implementation of the report.

Credit: Pmexpressng.com

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Ayomide Ayano

A writer, communicator, Graduate of the Nigerian Institute of Journalism and a Christian.

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