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HOW POLARIS BANK KNOWINGLY ROBS N920 MILLION BELONGING TO STATE GOVERNMENT

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While the corruption searchlight has been beamed on the nation’s political players, corporate organizations especially the Tokunbo Abiru led Polaris Bank (formerly Skye Bank Plc) being a kingpin in the corporate fraud cartel, have cashed in on this charade to blindly suppress and defraud Nasarawa State of its IGR for years running into Millions of Naira. This systemic fraudulent practice carried out by then Skye bank (now Polaris bank) surfaced after an exhaustive forensic audit done by a Lagos-based Forensic Accounting Consultancy firm engaged by the Nasarawa State Board of Internal Revenue to improve the state’s Internally-Generated-Revenue (IGR) base of excess bank charges, high network individuals, withholding tax on dividends, interest, and deposits against banks operating in the State from 29th May 1999 to December 2017. After perusing through the records of the Nasarawa State Board of Internal Revenue to assess the state’s IGR performance and the bank’s compliance in tax remittance for the period under review, it was garnered that the bank under the management of Mr Tokunbo Abiru brazenly defrauded Nasarawa State government of a whopping N131,302,177 (One Hundred and Thirty-one Million, Three Hundred and Two Thousand, One Hundred and Seven Naira) in unremitted 10% Withholding Tax on Credit Interest monies, Pay As You Earn among others. It was further revealed by sources that the fraud which has continued for years with immunity have had a smooth sail as the bank known for its lobbying prowess successfully greased the palms of the ‘Ogas at the top’ in the state’s board. As though assaulting the Northern front, another audit carried out by the Niger State Board of Internal Revenue to ascertain the level of tax compliance of banks in the state from 29th May 1999 to 31st August 2017 showed that Skye Bank Plc (now Polaris Bank) also diverted a jaw-dropping N789,653,459 (Seven Hundred and Eighty-Nine Million Six Hundred and Fifty-Three Thousand Four Hundred and Fifty-Nine Naira) belonging to the Niger State government to its treasury. The bank’s corrupt practice which seems to have cut across its management and staff despite having a mantra for being trustworthy is also evident in the case of the bank’s former chairman, Tunde Ayeni and the Managing Director, Timothy Oguntayo who have been slammed with a 10 count charge by the EFFC for laundering over N21 Billion.

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Just In: Tinubu Set To Embark on  Two-weeks Annual Leave.

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President Bola Ahmed Tinubu has announced a two-week annual leave

 

According to Bayo Onanuga Special Adviser to the President (Information & Strategy) President Bola Tinubu will depart Abuja today for the United Kingdom to begin a two-week vacation, part of his yearly leave.

 

He will use the two weeks as a working vacation and a retreat to reflect on his administration’s economic reforms.

 

He will return to the country after the leave expires.

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Alleged Corruption : El-Rufai denies allegations, vow to swear on Quran….

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A former Governor of Kaduna State, Nasir El-Rufai, has asserted that his entry into politics was driven solely by a desire to serve the people, not to amass wealth or siphon public funds.

 

El-Rufai made this declaration on Tuesday during a Hausa program aired on Freedom Radio, Kaduna.

 

Speaking candidly, the former governor dismissed allegations of financial misconduct during his administration, maintaining that he was already financially content before assuming office.

 

The Kaduna State House of Assembly had earlier indicted El-Rufai’s administration for the misappropriation of over N423 billion during his eight-year tenure.

 

 

However, El-Rufai and his associates have categorically denied the accusations, labeling them as politically motivated.

 

“I did not join politics to steal money or enrich myself. I was satisfied with what I had before becoming governor,” El-Rufai stated, adding that he is ready to swear on the Quran to prove his innocence if other former governors and current leaders do the same.

 

 

“I have always prayed for guidance in all I do, and I strive not to betray the trust of the people. Whenever the former governors of Kaduna State and other leaders are ready to swear with the Quran that they never misappropriated public funds, I will join them. I have no fear because I know I never took money that belonged to the people,” he said.

 

 

The former governor expressed dismay over the allegations, saying his administration has been accused without any clear evidence of where the money went missing or who took it.

 

He further claimed that his allies were being targeted and invited by the Independent Corrupt Practices Commission and the Economic and Financial Crimes Commission as part of a smear campaign against him.

 

“I have left everything to God’s judgment. I have prayed and will remain silent on the issue. I have instructed my lawyers to take legal action against those tarnishing my name, but for now, I’m focused on my activities like reading and writing,” he said.

 

 

El-Rufai emphasised that service to the people continues even after leaving office, stating, “You don’t need to hold a position in government to serve. We are still working with like-minded individuals who genuinely want to serve the people, not those seeking to enrich themselves.”

 

Looking ahead, El-Rufai revealed that he intends to return to politics in 2027 after completing his studies, remarking, “There is no retirement in politics. God willing, we will return and continue serving the people.”

 

 

 

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Alleged N27bn fraud: Ex-Taraba Gov., Ishaku, Spends 5th Night in EFCC Cell

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A FCT  High Court in Maitama, Abuja, on Monday remanded former Taraba State Governor, Darius Ishaku and former Permanent Secretary of the Bureau for Local Government and Chieftaincy Affairs, Bello Yero, in the custody of the Economic and Financial Crimes Commission.

 

The duo was arrested on September 27 for allegedly diverting N27bn belonging to the Bureau for Local Government and Chieftaincy Affairs.

 

In the suit, marked CR/792/24, filed before the Federal Capital Territory High Court, the EFCC accused the defendants of diverting N1,010,000,000 to their personal use between August 25, 2015, and March 21, 2016, in Abuja.

 

The anti-graft agency stated that this amount formed part of the 2.5 percent contingency funds belonging to the Bureau for Local Government and Chieftaincy Affairs.

 

 

The EFCC further alleged that the duo committed an offense contrary to Section 315 of the Penal Code A, Cap 532, Laws of the Federal Capital Territory of Nigeria 2007, which is punishable under the same section.

Other sums allegedly diverted by the defendants as part of the contingency fund include N650,686,369.99 between January 6, 2019, and April 29, 2021; N193,030,000 between January 2019 and April 29, 2021; and N170,549,842.00 between January 6, 2019, and April 29, 2021, among others.

 

Upon their arraignment, the defendants, according to a statement by the EFCC spokesperson, Dele Oyewale, pleaded not guilty. Oyewale stated that the prosecution counsel, Rotimi Jacobs (SAN), asked the court for a trial date and an accelerated hearing of the matter.

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