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Saturday, 13 October 2018

We recovered $7m illegally placed in Heritage Bank, SPIP Chairman, Obono-Obla alleges


We recovered $7m illegally placed in Heritage Bank, SPIP Chairman, Obono-Obla alleges

N4bn and another $7m in cash as well as physical assets in its various operations has been recovered by The Special Presidential Investigation Panel for Recovery of Public Property.
, disclosed this to (NAN) in Abuja on Friday.


According to  NAN, Mr. Okoi Obono-Obla, SPIP Chairman, on Friday, in Abuja said the $7m was recovered from the previous management of the Nigeria Export and Import (NEXIM) Bank who had “illegally placed” it in Heritage Bank.

The naira component of the recoveries, according to him, include N533m and land valued at N1.5bn also from the former NEXIM management.

The assets, according to him, have since been returned to the bank.

Obono-Obla said SPIP also recovered N24m allegedly misappropriated by some directors of the National Theatre, and two hectares of land worth N2bn belonging to the National Council for Arts and Culture.

Also recovered is part of the Agura Hotel belonging to the Nigerian Ports Authority, according to the chairman.


“The property illegally annexed by some so-called powerful persons with untouchable connections for over 20 years, have since been returned to the NPA.

“The panel is investigating the failure of a contract awarded to a company to dredge Calabar Channel, after the company had received $12m,” he said.
Obono-Obla said the panel also recovered 86 assorted vehicles valued at N500m from a director in the Federal Ministry of Power, Works and Housing.

“Other assets recovered from him are six houses in highbrow areas of Abuja and a large farm, also in Abuja,” he said.


The panel’s commitment to its mandate, Obono-Obla advised public servants to desist from converting official property to personal use.

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