ABUJA—The Chairman of the House of Representatives committee on
Capital Market and Institutions, Hon. Herman Hembe has disclosed that
his committee will investigate the on going recapitalization of the
eight rescued banks in the country, saying that from reports received so
far, there are indications that the process has been largely flawed and
the laws, rules and procedures guiding the exercise have not been
followed.
Meanwhile, the Nigeria Deposit Insurance Corporation, NDIC, has
washed its hands off the N5 billion of public funds trapped in eleven
failed banks liquidated after the consolidation exercise in 2006, noting
that it was the responsibility of the Federal Inland Revenue Service to
go after such funds.
A Civil Society watchdog in the nation’s extractive industry, Publish
What You Pay (PWYP) had called on the NDIC to explain to Nigerians
whathappened to the funds lodged in the liquidated commercial banks.
Cross
section of Committee Chairmen during the Inauguration of House of
Representatives Committees at the National Assembly in Abuja on
Thursday. Photo : Gbemiga Olamikan
In a swift reaction to the story published in Vanguard, the NDIC, in a
letter signed by the Director, Claims Resolution Department, M. A.
Ahmed, noted that of the banks listed by the transparency watch group,
Publish What You Pay, only four banks are in liquidation and under the
control of the Corporation. “The banks are, City Express Bank Plc, Gulf
Bank Plc, Liberty Bank Plc and Metropolitan Bank Ltd.”
“The six banks have either merged with other banks while two had
their revoked licensees restored by the Central Bank of Nigeria.”
Source
No comments:
Post a Comment