FG Goes After Fleeing Bank Executives

The Federal Government Task Force on the Implementation of the Failed Banks Act has begun an intensive search for bank executives, who fled the country following their investigation for fraud.

The Nigeria Deposit Insurance Corporation, NDIC, Wednesday, confirmed that the task force had issued a notice to re-arrest of directors and officers of licensed banks who had committed banking malpractices to be prosecuted.

“The task force would leave no stone unturned to ensure that erring bank offenders are apprehended and prosecuted,” the Director of Legal Department, NDIC, B. A. Taribo, said in a statement.

The members of the task force comprised the Nigeria Deposit Insurance Corporation as Chairman; the Federal Ministry of Justice represented by the Director of Public Prosecution of the Federation; the Central Bank of Nigeria; the Failed Banks Inquiry (now Financial Malpractices Investigation Unit); the Special Fraud Unit of the Police; and subsequently, the Economic and Financial Crimes Commission, EFCC.

By Bright Bassey

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