Why Societal General Bank went down There is are mind boggling indications that the embattled Former Kwara State governor and senator representing Kwara Central in the National Assembly, Senator Bukola Saraki may have allegedly squandered a whopping sum of N5.3 billion customers deposit for selfish political gains while he served as an executive director in Société generale bank of Nigeria limited SGBN. This investigating police officers have discovered contributed to the collapse of the once vibrant bank where the father of the former governor had controlling influence. A highly placed source at the Special Anti Fraud unit of the Nigerian police force, (SFU) headquarters in Abuja said that the embattled senator used his influence then to grant questionable loans to companies and cronies without collateral to the tune of over N5 billion depositors money. According to the source about a whooping sum of N2 billion from the alleged money was allegedly used to service political opponents and thugs that worked against the ouster of former governor of kwara state Lawal which led to emergence of Bukola Saraki. The senator has been having issues with the operatives of the special fraud unit over allegations of fraud before he was granted an adminstrative bail to travel abroad on medical grounds. Already the SFU has concluded its plans to arraign him before a federal High Court sitting in Illorin the Kwara state capital as soon as judges return from their annual vacation. The embattled lawmaker will be docked on allegations bordering corruption,fraud and conspiracy while he held sway for eight years as the chief executive of the state. The source further added that the operatives of the Special Anti fraud unit,(SFU) for the past five years have been investigating Senator Saraki over his alleged involvement in fraud-related matters during his eight-year period as governor and his time as executive director of the defunct Societe Generale Bank Nigeria Limited (SGBN). According to the police source, the embattled former governor has been invited for several occasions at headquarters of the SFU both in lagos and Abuja he allegedly refused to honour the invitation rather he filed an application before a federal high court in Abuja restraining the IGP from arresting and prosecuting him. The source said that the operatives of the special anti fraud unit has gathered enough documentary evidence to prove their case against the former governor when he will formally docked immediately after Judges vacation. It was also learnt that the Nigerian police had compiled a dossier on the ex- governor that contains several allegations of fraud that borders on abuse of office and money laundering which the SFU had covertly investigated over the past few years that will be tendered before Justice A R Mohammed of the federal High court in Abuja. Based on these findings, the operatives of the special fraud unit, Nigerian Pilot gathered, is now ready to confront the ex-governor with the evidence of his alleged financial indiscretion both as governor and as the executive director of SGBN. The police is said to have concluded the investigation into the mega fraud that triggered the collapse of the SGBN years ago but could not move against Saraki in spite of the overwhelming evidence against him on the grounds of the immunity he enjoyed as a sitting governor. Saraki ruled Kwara State between 2003 and 2011. His tenure, Saraki became a powerful political figure as the chairman of the Nigeria Governors’ Forum (NGF). His name featured prominently in the high-wire game of intrigues that allegedly forced the pioneer former chairman of the EFCC, Mr Nuhu Ribadu, out of the commission.
Posted on: Wed, 06 Aug 2014 16:20:45 +0000
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