Presidential Panel Recovers $7m Unlawful Hidden In Heritage Bank

A presidential panel setup by President Muhammadu Buhari has made a shocking discovery of hundreds of thousands of hidden in a financial institution.

The Special Presidential Investigation Panel (SPIP) for the Recovery of Public Property has recovered seven million (N2.1 billion at official fee) illegally stored in Heritage Bank.

Chairman of the panel, Okoi Obono-Obla, disclosed this whereas briefing President Muhammadu Buhari on actions of the panel.

Spokesperson of the SPIP, Lucie-Ann Laha, made this recognized in an announcement on Tuesday.

Ms Laha quoted Obono-Obla as telling the president that the panel had additionally recovered N533 million and land value N1.5 billion, all from the “previous management” of NEXIM Bank.

He mentioned the recovered funds and property had since been returned to the financial institution.

Mr Obono-Obla said that the panel had additionally recovered and returned to the National Theatre, N24 million which was allegedly diverted by some administrators of the company.

Also recovered, he mentioned, had been two hectares of land in Abuja valued at over N2 billion, belonging to the National Council of Arts and Culture.

The chairman additional instructed President Buhari that the panel additionally recovered and returned part of Agura Hotel belonging to the Nigerian Ports Authority (NPA).

He mentioned the recovered a part of the lodge had been illegally “annexed by some so-called highly effective individuals with untouchable connections for over 20 years’’.

Other recoveries by the SPIP, in keeping with Mr Obono-Obla, are 19 official Sports Utility Vehicles allegedly made away with by former Commissioners of the National Population Commission after their tenures in workplace.

He mentioned the panel had charged a former Director within the Federal Ministry of Power, Works and Housing to court docket for failure to declare his property.

The property embrace homes in upscale areas of Abuja, a quarry and a farm throughout the Federal Capital Territory, for which a court docket has granted an interim forfeiture order, he mentioned.

“The SPIP can also be investigating some members of the National Assembly and former governors for a spread of alleged offences.

“These embrace unlawful buy of designated official residences for principal officers of the National Assembly excluded from the monetisation coverage at giveaway costs.

“Others are buy of a number of property value a whole lot of hundreds of thousands in varied currencies, and flagrant abuse of workplace thus inflicting monetary adversity to the nation,” Mr Obono-Obla mentioned within the briefing.

He mentioned the SPIP was partnering with the United Kingdom’s Home Secretary to make sure that some public officers “perceived to have looted public funds and illegally acquired property each in Nigeria and the UK’’ had been prevented from getting into that nation.

The SPIP chairman equally instructed Buhari that the panel was beaming its searchlight on a number of corporations for a variety of alleged offences.

Some of the businesses, he mentioned, are Celtel, for alleged tax evasion since 2005; Western Oil and Gas, for illegally drilling crude oil in Delta, and 7 others for alleged failure to pay royalties to the Federal Government in about 10 years.

He mentioned some multinational oil corporations based mostly in Egi Kingdom, Rivers, had been additionally being investigated for allegedly conniving with unscrupulous people to dodge their obligations to the group to the tune of N38 billion and 30 million .

“Also below investigation by the panel is one other firm, which has didn’t to satisfy its contractual settlement to dredge the Calabar Channel, years after receiving $12 million.

“The panel has additionally compiled a listing of over 200 previous and serving public officers perceived to have illegally enriched themselves on the expense of the nation and the Nigerian folks, amongst others,” Mr Obono-Obla mentioned within the briefing.

Mr Buhari, in keeping with the SPIP spokesperson, assured the panel of his continued assist and non-interference consistent with his administration’s stance on the anti-corruption battle.

Mr Obono-Obla mentioned the panel would stay dedicated to its mandate, along with complementing the Federal Government’s battle in opposition to corruption.

He solicited the continued assist of Nigerians to the panel with helpful data that might result in the restoration of looted public property.

The News Agency of Nigeria remembers that the panel was inaugurated by the then appearing president, Yemi Osinbajo, in August, 2017.