Fidelity bank banner Bayelsa State 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: 2,666


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

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Reps tasks FG on landmines in North-East

Suspected Boko Haram fighters launch three attacks on...

Osun poised to recoup N30bn tax debt, appoints...

Breaking News: Jonathan sacks Suleiman Abba, appoints Arase...

We’ve no link with Buhari’s death rumour —...

FG deploys 9 perm sects

Breaking News: Algerian passenger plane disappears with 116...

5 injured, 10 vehicles damaged as revenue agents,...

How to use gas to transform Nigeria’s economy...

Buhari insists on Magu’s confirmation as EFCC Chairman,...

PDP chieftain advises albinos to resist stigmatisation

Airtel signs definitive agreement to fully acquire Uganda’s...

 

Latest News Boko Haram kills 30 in Borno Police summon Melaye over alleged shooting Why we can’t release Dasuki despite court orders: FG Governors demand drastic action to end killings NPA set to host International Maritime Conference Security operatives, others in emergency meeting as Apapa traffic worsens FG set to deploy 300,000 new N-Power beneficiaries FAAC deadlock: NNPC can’t continue spending public funds without approval – Governors Turaki blames Buhari administration for lingering Boko Haram war •Informs PDP BoT of presidential ambition Romance with Nigeria’s Presidency may spell doom for International Criminal Court: Intersociety 13 suspected Boko Haram fighters convicted in Senegal There’s too much bloodshed in the country — Sultan

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (362,919 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (358,909 views) Shameless Genevieve Nnaji exposes breasts in public (287,280 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (235,746 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (215,020 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (212,792 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (186,879 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (168,813 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (156,474 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (153,076 views) Lagos plane crash: Journalist releases victims’ names (147,886 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (139,064 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (52) Business & Economy (3,358) Business Verdict (45) Columnists (888) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (516) Features (616) Global Business Monitor (286) International (2,147) Interview (157) Live Commentary (28) Love Matters (127) News (37,296) Opinion (1,024) Pidgin (10) Politics (5,619) Religion (786) Sports (1,612) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

FRANCE vs CROATIA 4-2 Highlights & Goals 2018

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement