Alleged N41bn Fraud: Senate Not Deterred By UBA’s Threat – Akinyelure

By Chris Udochukwu

Abuja  (Precise Post) – will not be deterred by the threat by the United Bank for Africa () not to honour the invitation extended to it over the planned probe of N41billion allegedly withdrawn by the bank without authorisation from accounts of the Nigerian Telecommunications Limited (NITEL) and Mobile Telecommunications Limited (MTEL).

Chairman of the Committee on Ethics, Privileges and Public Petitions, Senator Ayo Akinyelure, who disclosed this yesterday, said that his committee would go ahead with the probe irrespective of whether or not the bank honoured the invitation.

Akinyelure had last week alleged that , based on petitions before his committee, withdrew N41 billion out of N42billion liquidators’ fund of NITEL and MTEL deposited in the bank without any authorisation from the liquidators.

The committee, therefore, summoned the Group Managing Director of , Mr. Kennedy Uzoka, to appear before it yesterday to clear its name.

But the UBA management led by its Chairman, Mr. Tony Elumelu, threatened Akinyelure with litigation if he failed to withdraw the allegation within seven days.

Elumelu said the bank would not honour the committee’s invitation since the issues at stake were already subject of litigation before the Supreme Court.

In his reaction to the bank’s threat, Akinyelure yesterday vowed not to retract his statement or apologise.

In a statement signed by his Special Adviser on Media, Mr. Charles Akinwon, Akinyelure said the threat from UBA would not stop his committee from forging ahead with the planned probe.

He said neither apology nor retraction, would be made by him, as his committee was in possession of a petition alleging that UBA committed the N41 billion fraud.

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