$13.9bn MTN Capital Flight: Senate Summons Trade Minister, Niger Governor’s Father, Others, For QuestioningBusiness, Featured, Latest News Friday, October 14th, 2016
ABUJA, NIGERIA (AFRICAN EXAMINER) – The Senate has summoned the Minister of Trade and Investment, Dr Okechukwu Enelamah, Niger State Governor’s father, Colonel Sani Bello and 12 others to appear before it next week Thursday next week over alleged $13.9billion capital flight between 2006 and 2016 in collaboration with Mobile Telecommunication of Nigeria (MTN).
The Senate which invitation was sent by its Committee on Banking, Insurance and Other Financial Institutions had on September 27, 2016 alleged that Enelamah connived with MTN to exploit the porous Nigerian financial system to move the money out of the country without authorization.
The upper chamber further alleged that MTN smartly bypassed Nigeria’s financial regulatory laws by failing to obtain a certificate of capital importation, which would have authorized it to move capital into Nigeria from its South African bankers, Standard Chartered Bank, as authorized by the law within 24 hours.
It further alleged that the repatriation was done through four banks, viz: Standard Chartered Bank, Stanbic IBTC, Diamond Bank and Citi Bank.
Consequently, the Senate mandated its Committee on Banking, Insurance and Other Financial Institutions to probe the Minister, MTN, the indicted banks and other Nigerians purported to have benefitted from the deal.
Chairman of the Committee, Senator Rafiu Ibrahim (APC, Kwara South) in a statement issued yesterday, listed other affected persons for the appearance to include; Dr. Pascal Dozie, Ahmed Dasuki, Gbenga Oyebode, Babatunde Folawiyo and Victor Odili.
Aside MTN and the affected banks, other corporate organizations summoned, are Central Bank of Nigeria (CBN) and Financial Reporting Council of Nigeria
He said the summon of the affected persons and organizations was sequel to the Senate resolution on ” Unscruplous Violation of the foreign exchange (Monitoring and Miscellaneous) Act through a motion moved to that effect by Senator Dino Melaye (APC Kogi West).
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