Nigeria Shocker; Bank Chiefs looted N1trillion!

The Economic and Financial Crimes Commission, EFCC, has hired 10 forensic analysts to trace the whereabouts of about N1trillion looted by sacked Chief Executive Officers and directors of eight banks. Our investigations have revealed that out of the total non-performing loans owed the 10 troubled banks which stood at N1.189.2 trillion, the EFCC has only recovered N135 billion, leaving an outstanding of over N1 trillion.
This ugly development gave the authority of the EFCC great concern and it consequently resolved to make use of forensic analysts in this regard.The forensic analysts, who are already in the country, will join eight other forensic experts who are staff of the anti graft commission. The audit of 24 banks in the country by the Central Bank of Nigeria, CBN has led to the removal of eight Managing Directors and many Executive Directors. While four ex-MDs had been arraigned in court, four others are awaiting trial. Those yet to be arraigned are a former Executive Vice-Chairman of Intercontinental Bank Plc, Mr. Erastus Akingbola, ex-MD of Bank PHB, Mr. Francis Atuche, former MD of Spring Bank Plc, Mr. Charles Ojo, and the sacked MD of Equatorial Trust Bank, ETB.
It was however learnt that the enormity of the fraud uncovered in the eight banks has forced the EFCC to engage 10 forensic analysts to look into the records of these banks.