Directors of 183 banks in Nigeria that recently had their licences revoked will be the subject of an investigation, according to the Nigeria Deposit Insurance Corporation (NDIC).
On Thursday in Lagos, the NDIC’s managing director, Mr. Bello Hassan, revealed this at a one-day training on developing capacity for law enforcement organisations.
The NDIC claims it intends to investigate shady behaviour by the directors of these failed banks in collaboration with the Economic and Financial Crimes Commission (EFCC) and the Nigerian police.
According to Bello Hassan, who was represented by Mr. Henry Fomah, the NDIC’s Head of the Legal Department, 12 prosecution cases were currently pending in various courts thanks to the cooperation of numerous authorities.
He continued: “As you are all aware, the Central Bank of Nigeria recently revoked the banking licenses of 183 MicroFinance Banks (MFBs) and Primary Mortgage Banks (PMBs) which may require you to be called upon to investigate some of the directors and officers of these institutions with a view to bring to book those found culpable in the collapse of these institutions.
“There are 25 ongoing investigations at the Nigeria Financial Intelligence Unit (NFIU), 11 with the EFCC and five concluded investigations with the Federal Ministry of Justice for advice and prosecution,”
The NDIC boss says this shows the corporation, as well as other government agencies, are on the right course through collaboration, adding it would bring to book errant directors, officers, and managers of these banks that led to their collapse.
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