Bank scam: 2 directors, 4 top officials to refund N17bn

Lanre Adewole, Abuja - 19.02.2009

Two directors and four officials of a new generation bank have reportedly agreed to refund about N17 billion which they alleged took from the system illegally.

They were said to have started the re-payment.

The Economic and Financial Crimes Commission had arrested them over an alleged indictment in a cheque clearing scam involving the bank and a businesswoman, Funmi Ademosu .

Nigerian Tribune also gathered from sources within the commission that the suspects would be making an appearance before investigators of the EFCC this morning in Abuja.

The appearance at the commission today was part of an agreement reportedly reached between the commission and the suspects, while being granted an administrative bail by the commission, following their arrest over the alleged scam.

Commission’s spokesperson, Mr. Femi Babafemi confirmed that the suspects would be appearing at the commission’s office in Abuja this morning.

According to him, “I know that they are reporting this morning as part of the administrative bail granted them, but I don’t have the details of the matter now.”

The commission had also got a remand order from a Chief Magistrate’s court sitting in Life Camp, Abuja, to keep the suspects till today.

It was, however gathered that before the expiration of the remand order, the suspects and the commission reached an agreement on the refund of the money involved in the alleged scam, which the suspects were said to have started paying back.