N20bn Bailout Fund: See Why Kogi Assembly Threatens Sterling Bank MD…

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Newsonspot blog reports that the Managing Director of Sterling Bank Plc, Abubakar Suleiman, has been threatened by the Kogi State House of Assembly to be issued a warrant of arrest if he fails to appear before the house on Tuesday next week.

The House had invited the Managing Director two weeks ago to clarify the N20bn Bailout Fund the Bank claimed it will send back to the Central Bank of Nigeria, CBN, but he failed to honour the invitation.

At plenary on Tuesday, the Regional Manager of Sterling Bank, Enejo Ibrahim and Counsel to the Bank, Olukayode Enitan, SAN were at the Kogi State Assembly but the Speaker, Prince Matthew Kolawole insisted they would not be allowed to speak until they produce a letter from the Managing Director of the bank, authorizing them to represent him.

The Speaker said the House is giving the Bank Chief Executive Officer one week to appear before it as any attempt to dishonour the invitation will make the House use every legal means to make him appear.

He pointed out that the claim that the Kogi State Government fixed the Bailout Fund in a domicile account with the bank has brought embarrassment to the Government and people of Kogi State.

According to him, investigations by the House Committee on Public Accounts revealed that the allegations were baseless and untrue, adding that the Assembly will get to the root of the matter.

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