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How Polaris bank fully refunded NNPC's $223m to FG


Daily Trust intercepted a copy of the letter titled: Re: Invitation to investigative hearing In respect of NNPC deposit of $223,862,000 with the bank.
The letter which was dated June 21 and sent to the chairman of the Ad-Hoc Committee on the Assessment and Status of Recovered loots Hon. Adejoro Adeogun through the office of the Bank’s General Counsel Segun Tawoju provides extensive insight into the alleged controversial deposit.
The letter which had 10 annexures copiously provided details and revelations on the issues surrounding the transaction.
The Committee had during the sitting queried why the money had spent seven years with the bank without any action, adding that the bank must have thought the money had been forgotten. ....

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Reps quiz Polaris MD over $224m NNPC alleged hidden account


Punch Newspapers
Sections
Leke Baiyewu and Okechukwu Nnodim
Published 25 June 2021
Published 25 June 2021
The House of Representatives’ Ad Hoc Committee on Assessment and Status of All Recovered Loots Movable and Immovable Assets from 2002 to 2020 by Agencies of the Federal Government of Nigeria for Effective Efficient Management and Utilisation, on Thursday, grilled the Acting Managing Director, Polaris Bank Limited, Innocent Ike, over an account belonging to the Nigerian National Petroleum Corporation.
Over $200m was said to have been allegedly hidden in the account, which was opened in 2012.
Polaris Bank, formerly Skye Bank, said it forwarded the balance to the Central Bank of Nigeria in compliance with the Treasury Single Account policy of the Federal Government. ....

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