CBN, AMCON to appear before senate on Cecilia Ibru’s N150 Billion assets.

CBN, AMCON to appear before senate on Cecilia Ibru’s N150 Billion assets. By Okechukwu Jombo The last may not have been had over the N150 Billion in assets and cash said to have been forfeited by the erstwhile Managing Director of the defunct Oceanic Bank Plc on her conviction of bank fraud by the court of law It was reliably gathered that the Senate Committee on Drugs, Narcotics, Financial Crimes and Anti-Corruption has invited the Central Bank of Nigeria (CBN), the Asset Management Corporation of Nigeria (AMCON) amongst others to appear before it to respond to a petition alleging certain irregularities perpetrated in the execution of the failed bank consolidation The Committee is also interested in the recovery of assets from loan defaulters and convicted Managing directors of the then oceanic bank Plc, intercontinental Bank Plc, Union Bank Plc, Afri Bank Plc and Bank PHB According to the correspondence from the Senate committee, the petition alleged that the funds and properties recovered by the Economic and Financial Crime Commission were not remitted to the banks and the properties and shares were never advertised for sales nor the proceeds remitted to either the banks nor AMCON The letter of invitation by the committee which was signed by Senator Victor Lar said of particular interest are the assets of Cecilia Ibru under the plea bargain with the EFCC which was alleged to have never been accounted for. The former MD was convicted of bank and securities fraud by a federal high court judge presided over by Justice Dan Abutuin Ikoyi, Lagos. She forfeited Two aircrafts worth $100 million, properties in Dubai, South Africa, London and Abridged Shares In listed Nigerian Companies The committee investigative hearing which is billed to take place today at the hearing Room 438 also summoned the Managing Director of Ecobank Plc formerly Oceanic bank to come along with statements of account from AMCON, NDIC or CBN under the bank consolidation from 2009 till date The MD of Ecobank is expected to also show proof of transfer of assets/shares/cash from AMCON to Ecobank plc Also expected at the hearing is the Ag. Director General of the Security and Exchange Commission (SEC), Munir Gwarzo, and the Chairman of the EFCC, Ibrahim Lamorde,