Home Latest News $13.9bn Money Laundering: Senate summons CBN, MTN, ‎FRCN, others

$13.9bn Money Laundering: Senate summons CBN, MTN, ‎FRCN, others


Senate on Thursday summoned, ‎the Management of Mobile Telecommunication Limited ‎(MTN), Central Bank of Nigeria (CBN)  and Financial Reporting Council of Nigeria (FRCN) over their participation in the allegd Capital flight of $13.9 billion.

The Committee also summoned Citibank, Diamond Bank, Citibank, and Stanbic IBTC‎ bank.

Also, the Minister of Trade and investment, Okechukwu Elenemah‎ ‎Ahmed Dasuki, Babatunde Folawiyo, Victor Odili‎, Dr. Pascal Dozie an‎d ‎Colonel Bello Sani are expected to appear before the Senate’s Committee on Banking, Insurance and Other Financial Institutions next week Thursday.

It would be recalled that  Senate last week mandated its Committee to unravel alleged $13.9 billion moved from Nigerian economy by Mobile Telecommunication Nigeria (MTN) in collaboration with some fraudulent Nigerians, including a serving Minister,  facilitated by  four commercial banks in the country.

This move was sequel to a point of order raised by Senator Dino Melaye who came through order 42, in seeking a motion to unravel the fraud to the Senate.
“Mr. President, I seek the indulgence of this house to move that after this short presentation this matter be allowed to be taken on the next legislative day. My respected colleagues MTN Nigeria paid a sum of $284.9 million on February 6, 2001, to purchase their licence of operations in this country.

“I want to say with facts which by the grace of God I will make available on the next legislative day if this motion is allowed, to all senators to see evidence that between 2006 and 2016 through four Nigerian banks and indeed a serving minister of the federal republic of Nigeria and some other fraudulent Nigerians. MTN have moved over $12 billion out of Nigeria and that is about half of our external reserves.
“If I get the nod of the Senate, I will want to bring a substantive motion on Tuesday the next legislative day with substantiated facts to buttress this position”, he said.
The Senate accordingly granted his request by slating next Tuesday for hearing and substantive debate on the motion.

“Distinguished colleagues, according to our rules Order 42, Senator Dino Melaye raised this issue and he needs to get the leave of the Senate to bring it down to the next legislative day which he has now done,” said the Senate President, Bukola Saraki.

Total Views: 552 ,


Leave a Reply