The Chairman Senate Committee on Ethics, Privileges and Public Petitions Senator Ayo Akinyelure has exposed an alleged fraud by United Bank for Africa (UBA).for nine years.

The petition written on behalf of NITEL/MTEL by J .U Ayogu and Co. Upper legislative chamber’s Committee on Ethics, Privileges and Public Petitions formed the strength of the alleged fraud and the Group Managing Director (GMD) and Chief Executive Officer (CEO) of the Bank, Kennedy Uzoka, has been summoned to appear before the committee unfailingly on August 5, 2020.

According to him the petition revealed clearly that UBA withdrew N29 billion, N11billion, N6.8million and N22million intermittently between 2006 and 2015 from the accounts without relevant tickets or authorizations for that purpose.

“Being a committee adhering strictly to Senate rules, the litigated N685million is not part of what the UBA is being invited for despite even losing to NITEL liquidators at both the Federal High Court and Appeal Courts .

According to the Committee, a human rights lawyer had sent a petition on behalf of the liquidators and creditors of NITEL and MTEL, that if the N685m is a subject of litigation, there is a third account meant for taxation and disasters which has N169m.

The fund was unilaterally withdrawn by the UBA. Seven years after the withdrawal, UBA is yet to provide the tickets, rather they were asking the liquidators to get the ticket from dead liquidators.

(C) Newspot

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