Fidelity bank banner UBA banner
Activists write CBN Governor, ask what happened to $7B given to 14 banks •List of the banks

By News Express on 19/06/2015

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 2,734


The Civil Society Network Against Corruption (CSNAC), a coalition of over 150 Nigerian anti-corruption organisations, has written to Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, requesting for information on the status of the $7 Billion ‘Soft Loan’ which the apex bank granted to the 14 consortium of bankers in 2006. The letter, dated June 17, 2015, was signed by CSNAC Chairman Olanrewaju Suraju.

The letter, a copy of which was made available to News Express by CSNAC, says: “On October 5th 2006, THISDAY Newspaper reported that, the Central Bank of Nigeria (CBN) through its Head of Corporate Affairs, Mr. Festus Odoko disclosed on October 04, 2006 that the CBN had apportioned $7 billion out of the nation’s external reserves, which stood at $38.07 billion as at the end of July, 2006, to 14 global asset managers and their 14 Nigerian banks local partners, to manage.

“The amount reportedly bequeathed to the asset managers represented 18.39 per cent of the total external reserves and was hitherto kept with foreign banks.

“The 14 global asset managers and their local counterparts were Black Rock and Union Bank of Nigeria Plc; J.P. Morgan Chase and Zenith Bank Plc; H.S.B.C and; First Bank of Nigeria Plc; BNP Paribas and Intercontinental Bank Plc; UBS and United Bank for Africa Plc; Credit Suisse and IBTC Chartered Bank Plc; Morgan Stanley and Guaranty Trust Bank Plc; Fortis and Bank PHB Plc; Investec and Fidelity Bank Plc; ABN Amro and Access Bank Plc; Cominvest and Oceanic Bank Plc; ING and Ecobank Plc; Bank of New York and  Stanbic Bank Plc and; Crown Agents and Diamond Bank Plc.

“According to THISDAY, CBN gave each asset manager, $500m of the external reserves to manage.

“Almost nine years after this pronouncement was made, Nigerians are yet to be informed if the $500 million given to each bank totaling the $7 billion has been repaid to the foreign reserve or the approved condition of management vis-a-vis repayment period.

“CSNAC is therefore, by this letter, requesting in accordance with the Section 2, 3, 4 of the Freedom of Information Act, 2011, for the status of the $7 billion ‘soft loan’ granted to the aforementioned 14 consortium of bankers.

“We look forward to receiving these information promptly and, in any event, within 7 days of the receipt of this application as provided for in the Freedom of Information Act, 2011.”

•Photo shows CBN Headquarters.

Source News Express

Posted 19/06/2015 06:55:49 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Rivers set to crack down on refuse defaulters...

Abuja roads blocked due to Odili’s daughter’s wedding...

RIGHTSView: SOCIAL MEDIA VERSUS LAW: ANOTHER BATTLE

Stakeholders meet to restructure Nollywood

Buhari visits Kaduna, commissions $150m feed mill

At least 40 shot and four killed in...

NCC advises media on Cybercrime Act 2015

Nigerian Economic Summit expands public sector membership

2018 budget: MDAs have complied with FG’s directives...

Niger Delta ex-agitators pass vote of confidence on...

Police go after ex-militant leader accused of masterminding...

Aregbesola, former HOS trade accusation over alleged sale...

 

Latest News Osun rerun: Fayemi leads APC leaders to Omisore’s residence Miracle in America: Paralysed people walk again Nigeria population will hit 450 million by 2050 — International consultant 2019: PDP must present presidential candidate with comparative advantage over APC, others, Tambuwal tells party delegates Osun Poll: We underestimated opposition — Osun Govt ASUU rejects Fed Govt’s N20bn Ignore jittery PDP, gear up for rerun, APC charges Osun voters Over 3,000 cholera cases recorded as Yobe declares outbreak PSN marks World Pharmacists Day, tasks members to update their knowledge Mourinho strips Pogba of Man United captaincy Two wins in a row for Nigeria’s D’Tigress, beat Argentina US, EU, UK declare stand on Osun poll, rerun

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (397,453 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (377,266 views) Shameless Genevieve Nnaji exposes breasts in public (309,113 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (251,004 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (232,760 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (221,848 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (200,484 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (182,028 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (166,111 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (163,586 views) Lagos plane crash: Journalist releases victims’ names (158,464 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (147,100 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (63) Business & Economy (3,629) Business Verdict (52) Columnists (933) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (548) Features (653) Global Business Monitor (301) International (2,435) Interview (165) Live Commentary (28) Love Matters (144) News (39,147) Opinion (1,111) Pidgin (11) Politics (6,756) Religion (873) Sports (1,708) Stock Watch (34) AMA & Al Jazeera Global Update

 

NLNG Expression of Interest banner

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Anthony Joshua vs Alexander Povetkin: Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement