Senate Committee Investigates Cecilia Ibru’s Siezed Assets

senateThe Senate has begun investigating an allegation made by stakeholders that the Asset Management Company of Nigeria (AMCON) failed to remit funds and assets of former Managing Director of the Defunct Oceanic Bank, Mrs Cecilia Ibru to shareholders, as well as Eco Bank, the company that took over Oceanic Bank

At an investigative hearing organized by the Senate Committee on Drugs, Narcotics and Financial Crimes, the committee observed that four years after entering into a plea bargain with the office of the Attorney General of the Federation, Mrs Cecilia Ibru is yet to remit N16.1 million to AMCON.

However, the Acting Managing Director of AMCON, Mrs Foluke Dosunmu said AMCON had not taken up Mrs Ibru over the N16.1 billion, because it had not ascertained her unwillingness to pay it, saying once it is confirmed that she’s not ready to pay, the corporation would take her back to court.

The Acting MD Also maintained that AMCON does not owe the Oceanic or Eco Bank.

The Senate Committee also faulted AMCON over its failure to follow due procedures in the sales of some recovered properties, as they revealed how the corporation had failed to advertise the property before embarking on sales as required by the rules governing sales of government property.

The Senate Committee, headed by Senator Victor Lar had entertained a petition said to have been filed by a Nigerian whose name was not disclosed, said that the sale of the properties by (AMCON) were questionable.

The seized assets, worth N569 billion, were taken over by the Federal Government, following a plea bargain entered into by Mrs Ibru. The committee said that the mode of disposal of the assets located within and outside Nigeria was shrouded in secrecy.

Senator Victor Lar said on Monday that Ibru had pleaded guilty, during the course of her prosecution and entered into a plea bargain with the government, while handing over assets allegedly bought with depositor’s funds.

President Jonathan Appoints New SAs And Chief Executives

President Goodluck Jonathan has approved fresh appointments to fill existing vacancies.

The new appointments are in furtherance of efforts to continually strengthen his administration, as contained in a statement by the Special Adviser to the President on Media and Publicity, Dr. Reuben Abati.

General Martin Agwai (rtd.) who was until now the Deputy Chairman and Acting Chairman of SURE-P has been named the Chairman of the Subsidy Reinvestment and Empowerment Programme, SURE-P, with Mrs. Tanwa Olusi as his deputy.

The current Nigerian Ambassador to Switzerland, Mrs. Fidelia Njeze is now Special Adviser to the President on New Partnership for Africa’s Development, NEPAD, while Senator Suleiman Ajadi was named Special Adviser on National Assembly Matters.

The former Special Adviser to President Jonathan on Media and Publicity, Mr. Ima Niboro, has been named as the Managing Director of the News Agency of Nigeria, NAN; with Mr. Sola Omole as the Director-General of the Nigerian Television Authority, NTA and Alhaji Ladan Salihu as the Director-General of the Federal Radio Corporation of Nigeria, FRCN.

General Agwai replaced Dr. Christopher Kolade, who resigned voluntarily as the Chairman of SURE-P in 2013. Both Ajadi and Njeze replaced Senator Joy Emordi and Dr. Tunji Olagunju who were both sacked.

“All the appointments are with immediate effect,” the statement read.