Group Asks FG to Probe Ex-Bank Director $40m Fraud Allegation

An anti-corruption group, Nigeria Public Transparency Initiative Group (NPTIG), has called on the federal government and other anti-graft agencies to investigate the source of $40 million allegedly traced to a former Executive Director of the First Bank, Dauda Lawal.

The group’s National Coordinator, Dr. Hamisu Bayero, disclosed this in a statement issued to journalists in Sokoto. It noted that the call became necessary at a time when the fight against corruption needed a holistic approach.

“We urged the relevant authorities to compile Dauda Lawal’s account for how he got the $40m, since the bank’s rules prevented him from carrying out any other business while in office as executive director.

The group thus urged the relevant authorities, including the Economic and Financial Crimes Commission (EFCC) to carry out a holistic investigation in unveiling such a suspicious amount of money.

The group also urged the anti-draft agencies not to enter a plea-bargain deal on the matter, saying “such negotiation with a suspect is like condoning criminal activities, especially on issues that border on corruption, stealing and other crimes.”

Recall that the EFCC had earlier confiscated the money from the former banker on allegation that it was proceeds of corruption.

Other properties put under surveillance include a fertilizer company, Zamzam hotel, Aluminium production company, properties he allegedly acquired in both London and Dubai.

But the group said proper investigation on the suspect would further discourage money laundering and illegal acquisition of property outside the country by unscrupulous Nigerians.