• Advertise
  • Contact
GFH News
Advertisement
  • Home
  • Economy
  • Politics
  • Others
    • Security
    • Health
    • Metro/General News
    • Crime
    • Law/Judiciary
    • Entertainment
  • Contact
No Result
View All Result
  • Home
  • Economy
  • Politics
  • Others
    • Security
    • Health
    • Metro/General News
    • Crime
    • Law/Judiciary
    • Entertainment
  • Contact
No Result
View All Result
GFH News
No Result
View All Result
Home Banking

N231 MILLION FRAUD: EFCC PETITION EXPOSES FCMB – NGIJ

gfhnews.com by gfhnews.com
April 12, 2020
in Banking
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

By NGIJ team of Oluwasegun Abifarin and Olawale Abideen

The First City Monument Bank (FCMB) and its Shareholders defied the Covid 19 lock down directives last week to hold its Annual General Meeting (AGM) by proxy.


But while they celebrated its N20.1 billion profit for the 2019 financial year, little did the shareholders know that a petition had surfaced at the Economic and Financial Crimes Commission (EFCC).


This follows investigation instituted by Niger state governor Abubakar Sani-Bello that seemed to have exposed the underbelly of the financial institution. 

According to a document received by the Guild, the governor in a letter dated 23 July, 2015 by the Permanent Secretary, Ministry of Finance, appointed Ori Adeyemo, a Lagos based forensic expert as consultant. 

His mandate was to investigate deductions of unremitted 10% Withholding Tax on Credit Interest by some banks operating in the state.

At the end the forensic investigation, the total refundable by FCMB stood at N234, 828,268.31, out of the N4.6 billion due to the state by 12 banks and one Micro Finance institution.


In his petition to the EFCC, obtained by the NIGJ team Adeyemo alleged he was reliably informed that the Board had given the bank a mere  slap on the wrist. 

This it did by ordering the bank to pay a paltry sum of N3, 743,098.01.
According to the petitioner, “behind our back, the Board forwarded another demand letter dated 2nd July, 2018 to the First City Monument Bank Plc.

This was for a revised but lower sum of N3,743,098.01, which we understand has been paid by the bank in full and final settlement per the letter dated 01/11/2018.” By this, the EFCC was told.

“Niger State Government fraudulently lost N231, 085,170.30 IGR to First City Monument Bank Plc. through unholy collusion and gang-up therewith unknown and faceless ‘consultants’. 


“These ‘consultants’ incidentally were suspected to have relied on our documents earlier submitted to the Board.” 

The petitioner also included a compact disk with completed jobs so far executed by the consultant for the Niger State Government for which it demanded an additional, but unpaid, N732,143,601.52 commission.

Previous Post

10 Solid Reasons To Avoid Cashcentral

Next Post

Man arrested for alleged rape of 8ear-old girl

gfhnews.com

gfhnews.com

Next Post

Man arrested for alleged rape of 8ear-old girl

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 81 Followers
  • 22.9k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
Creative Industry Group honours Ovularia of ‘New Masquerade’

Creative Industry Group honours Ovularia of ‘New Masquerade’

December 6, 2020
Organic foods consumption will boost immunity, cure COVID-19 symptoms – Expert

Organic foods consumption will boost immunity, cure COVID-19 symptoms – Expert

January 22, 2021
Suleiman Yahaya bows out of National Park Service

Suleiman Yahaya bows out of National Park Service

February 8, 2021
Arrest me with proof that I plan instigating violence in Ebonyi — Egwu

Arrest me with proof that I plan instigating violence in Ebonyi — Egwu

November 28, 2020

My career at a crossroads – Aubameyang

2

Lady, 28, dumps my 65year-old brother at LUTH after stealing his millions – Sister

2

Court orders final forfeiture of N426.7m belonging to rtd. Army General

1

Mapoly 2007 Mass Comm graduates provide stimulus packages for colleagues

1
WHO warns against use of remdesivir for COVID-19 patients

Governors to meet Thursday on COVID-19 vaccines, distribution

March 3, 2021
Court adjourns until March 3 for EFCC to comply with orders in Diezani’s trial

Court fixes May 17 for EFCC’s report in Diezani’s trial

March 3, 2021
Court dismisses NJC’s objection on Justice Ajumogobia’s dismissal

EFCC re-arraigns embattled Justice Ajumogobia

March 3, 2021
Court dismisses NJC’s objection on Justice Ajumogobia’s dismissal

Court stops Oyo-Ita’s trial over EFCC ”misconduct”

March 3, 2021

Recent News

WHO warns against use of remdesivir for COVID-19 patients

Governors to meet Thursday on COVID-19 vaccines, distribution

March 3, 2021
Court adjourns until March 3 for EFCC to comply with orders in Diezani’s trial

Court fixes May 17 for EFCC’s report in Diezani’s trial

March 3, 2021
Court dismisses NJC’s objection on Justice Ajumogobia’s dismissal

EFCC re-arraigns embattled Justice Ajumogobia

March 3, 2021
Court dismisses NJC’s objection on Justice Ajumogobia’s dismissal

Court stops Oyo-Ita’s trial over EFCC ”misconduct”

March 3, 2021

GFH News is a Nigeria based online news platform that gives news on the go. Our team gather news from different sectors, locally and internationally, with fact checks.
Get the news as it breaks.

Browse by Category

  • Agriculture
  • Banking
  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Environment
  • FACT CHECK
  • Feature
  • Foreign
  • Health
  • Labour
  • Law/Judiciary
  • Metro/General News
  • Oil&gas
  • Politics
  • Religion
  • Science
  • Security
  • Sports
  • Technology
  • Tourism
  • Uncategorized
  • work

Recent News

WHO warns against use of remdesivir for COVID-19 patients

Governors to meet Thursday on COVID-19 vaccines, distribution

March 3, 2021
Court adjourns until March 3 for EFCC to comply with orders in Diezani’s trial

Court fixes May 17 for EFCC’s report in Diezani’s trial

March 3, 2021
  • Advertise
  • Contact

© 2020 GFH News

No Result
View All Result

© 2020 GFH News