The House of Representatives committee investigating the status of looted funds and recovered assets from 2002-2020, yesterday resolved to investigate the motive behind the deposit of slush sum of $30 million (USD) into a current account of the NNPC domiciled with the defunct Skye Bank now Polaris Bank in 2012.
Specifically, the committee observed that the sum was the first deposit into the said account, thereby raised suspicion that the fund could be kept with a corrupt intention.
Chairman of the committee, Adejoro Adeogun, however, directed the management of Polaris Bank to submit in detail names of its customers who benefited from the loan which the sum of $30 million deposited to the bank by the NNPC was disbursed to.
Adeogun also demanded to know the project for which the money was used for as well as the collateral security used to guarantee the loan.
But managing director of Polaris Bank, Mr Innocent Ike, who appeared before the committee, said the bank had fully returned the fund to the NNPC, through the CBN.
This disclosure was made by the managing director of the bank while appearing before the House of Representatives ad-hoc committee on assessment and status of all recovered loots from 2002-2020.
“Part of the strategies we used in paying this money apart from transferring for our offshore account, USD domiciliary account cash we collected, we also remit it to the Central Bank, so when we pay to the CBN, we will instruct that the CBN should credit NNPC. We adopted the same strategy to make the payment of $23 billion, and in March, we also paid this $32 million. We have written a letter to the CBN, asking that the money be credited to the NNPC. Obviously, NNPC has not , but we wrote the CBN and copied NNPC, so in our books, we have actually paid the money,” he said.