Former Directors Of Failed Banks In Trouble
Judgement day is drawing nearer.
There are some bank directors whose management of their bank’s finances led to its failure.
The government at the time tried prosecuting them but they managed to escape by leaving the country.
Now they suppose the dust has settled and have come back. But it is not yet Uhuru for them as the authorities have been patiently waiting for them.
They will be rearrested and prosecuted according to the law.
This was announced by the Nigeria Deposit Insurance Corporation, NDIC on Wednesday.
NDIC which is by law charged with protecting depositors funds, said a Task Force on the Implementation of the Failed Bank Act would soon begin to re-arrest the alleged culprits.
The Task Force, NDIC is talking about, is made up of representatives of the NDIC, Federal Ministry of Justice, Central Bank of Nigeria, Failed Banks Inquiry (now Financial Malpractices Investigation Unit), Special Fraud Unit of the Nigeria Police Force, and of course the Economic and Financial Crimes Commission.
According to the statement, the task force had at its 38th meeting reviewed some pending investigations by the Police Financial Malpractices Investigation Unit under the Failed Banks Act, comprising 17 cases involving 10 closed microfinance banks in which 15 former directors of the MFBs were involved.
It also considered two cases of closed Deposit Money Banks involving their former directors where it was discovered that some of them were facing trial for malpractices involving 15.1 billion Naira of depositors’ funds.