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N12bn cashflow scheme: Reps invite Magu, Emefiele, others for questioning

by 19/05/2017 01:57:00 0 comments 1 Views
N12bn cashflow scheme: Reps invite Magu, Emefiele, others for questioning
N12bn cashflow scheme: Reps invite Magu, Emefiele, others for questioning

- The House of Representatives has summoned Ibrahim Magu and Godwin Emefiele over a N12 billion virtual currency scheme

- EFCC and CBN reportedly ordered the freezing of the account involved in the scheme

- The investigation is based on a petition instituted by Philemon Gora, promoter of the virtual currency scheme

Acting chairman of the EFCC, Mr Ibrahim Magu, and Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, were both summoned by the House of Representatives on Thursday, May 18.

Mr Uzoma Nkem-Abonta, the chairman, House Committee on Public Petition, issued the summons after they had heard the petition instituted by Philemon Gora, promoter of the virtual currency scheme.

Investors in the scheme standing outside a Diamond bank branch. File photo

Investors in the scheme standing outside a Diamond bank branch. File photo

Mr Ibrahim Idris, Inspector General of Police, was also asked to appear in person before the committee on May 30, 2017.

According to the petitioner, Mr Gora, Diamond Bank unlawfully closed the scheme’s account and withheld fund deposited in the account worth N12 billion.

Gora said he wanted to pay all the depositors as soon as the account was unfrozen but he was informed that the bank account of the scheme had been frozen on the orders of EFCC and CBN.

He said he took the matter to the office of the Attorney General of the Federation (AGF), after he was arrested several times.

He said: “Clients are hunting us because of the situation,” noting that one of his staff had been sentenced to seven years jail term due to the crisis.

One of the petitions on the case

One of the petitions on the case

According to Vanguard, CBN executive, Director Georgina Nwankwo, who acknowledged receipt of the petition in February 2014, said Gora had been advised to resolve the matter with his banker, adding that they can only intervene if the parties fail to resolve the matter.

She said: “When a matter is in court, we don’t interfere. According to the petition we got from him, the court asked them to go back and see how the matter can be resolved. And since the matter was before the court, we couldn’t do anything.

"It’s unfortunate that the EFCC, the Police and Diamond Bank are not here to tell us what they have done with the judgment of the court.”

Unoma Ndulue, Diamond Bank team legal, north, said that there was no money in the account with Diamond Bank.

According to her, the fund in question is a “virtual fund, a Crypto currency that is traded online.”

Meanwhile, eyebrows have been raised in recent times, regarding the conduct of officers entrusted to execute the war against graft.

Recently obtained documentary evidence exposes the strength of structured corruption within the Magu led EFCC and the general effort against combating financial crimes.

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