EFCC orders detained banks CEOs to surrender shares
Detained banks' chiefs, yesterday, alleged that the Economic and
Financial Crimes Commission, EFCC's operatives were asking them to
bargain for their freedom with their shares in the five troubled
banks.
They were said to have disclosed this latest development to their
counsel, saying "this is part of plea- argain deals put forward by
the anti-graft commission to secure the co-operation of the
directors towards paying off their alleged debt. We were asked to
surrender the shares in writing as a means of paying off our alleged
indebtedness on one hand and receiving a "soft landing" from the
commission on the other."
But in a swift reaction, spokesman for EFCC, Femi Babafemi denied
the allegation, describing it as a blackmail to which the agency
won't succumb.
The full text of the message reads; "The attention of the Economic
and Financial Crimes Commission, EFCC has been drawn to an
allegation making the rounds that the anti-graft agency has asked
some detained bank directors to surrender their shares in their
banks in exchange for their freedom.
"The Commission wishes to state that there is no iota of truth in
this allegation. It is a known fact that once an accused has been arraigned in
court, it is solely the discretion of the court to grant such person bail.
"As such, the fate of all the bank executives that had been arraigned in court
for criminal charges lies in the court and the Commission has no control over
them other than ensuring diligent prosecution of the case.
"The attempt to blackmail the EFCC with a weak and spurious allegation will
bring no gain for those behind it neither will it in any way stop the Commission
from going ahead with the trial which has already begun."
However, the EFCC had placed difficult bail conditions on the way of the bank
directors, making it impossible for them to get bail before they were arraigned
last Monday.
According to a very influential director involved, all of the directors of
Intercontinental Bank both individually and collectively rejected the
plea-bargain arrangement and refused to surrender their shares due to the
implications.
Vanguard.
Baobab magazine and
www.baobabafricaonline.com are published by Baobab Media,
18, Adeleke Street, Ikeja, Lagos. Baobab Media International: 9703
Locust Avenue, Lanham, MD20706-2339. United States of America
..