Despite the directive of the Central Bank of Nigeria, CBN, to Sterling Bank Plc to return the N20billion salary bailout fund that was granted to Kogi State Government for the purpose of payment of workers salaries but was subsequently diverted for another purpose, it is obvious that the controversy surrounding the alleged scandal may not be be fully laid to rest soon, as the state House of Assembly has insisted on getting clarifications on the circumstances surrounding the movement of the money.
Consequently, the Kogi State House of Assembly has again extended its ultimatum for the Managing Director of Sterling Bank Plc. Mr Abubakar Suleiman to appear before it on December 8.
The House announced the extension at plenary yesterday, following the failure of the Sterling Bank MD to appear before it yesterday.
The House, on November 9, threatened to issue a warrant of arrest against the Managing Director if he failed to appear before it yesterday.
The Assembly had summoned Suleiman to appear before it in person for clarification on the N20 billion bailout fund the bank claimed to have sent back to the Central Bank of Nigeria (CBN) after initial claims that the Kogi State Government deposited it in a fixed deposit account.
Upon resumption of plenary, the Sterling Bank MD sent a letter to the Assembly, urging it to reschedule his appearance.
According to the letter, the Managing Director is currently attending AFREXIM Trade Fair holding in South Africa.The Speaker, Mr Mathew Kolawole after reading the letter on the floor of the house ,said it was not written in the bank’s letterhead, pointing out that the paper did not carry the logo or name of the bank
Kolawole, however, said for equity and fairness, the House had agreed that the bank MD be rescheduled to appear on December 8, in person as no form of representation would be accepted.
Recall that the Managing Director of the bank had failed to honour the invitation of the House on three occasions he was summoned, resulting in a threat to issue a warrant of arrest on him.
The Speaker said failure to appear on the agreed date would compel the House to issue a Warrant of Arrest against the MD.
