{"id":116023,"date":"2019-05-11T11:45:46","date_gmt":"2019-05-11T10:45:46","guid":{"rendered":"https:\/\/arewa.ng\/?p=116023"},"modified":"2019-05-11T11:46:03","modified_gmt":"2019-05-11T10:46:03","slug":"presidential-panel-recovers-n1-36bn-from-nexim-bank","status":"publish","type":"post","link":"https:\/\/arewa.ng\/?p=116023","title":{"rendered":"Presidential Panel recovers N1.36bn from NEXIM Bank"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/arewa.ng\/wp-content\/uploads\/2019\/05\/Presidential-Panel-recovers-N1.36bn-from-NEXIM-Bank.jpg\"><\/p>\n<div id=\"mvp-content-main\">The Special Presidential Investigation Panel for the Recovery of Public Property (SPIP) said it has recovered N1.36 billion and 10.29 million dollars belonging to Nigerian Export and Import (NEXIM) Bank.<\/p>\n<p>Head, Media and Communications of the panel, Ms Lucie-Ann Laha, stated this in a statement in Abuja on Friday.<\/p>\n<p>She said that the funds were recovered from Heritage Bank.NAN reports<\/p>\n<p>Laha said that the dollar component of the recovered funds was part of refund of money illegally placed in fixed deposit by previous management of NEXIM Bank at Heritage Bank.<\/p>\n<p>\u201cUpon maturity of the fixed deposit term, however, Heritage Bank failed to return both the capital and accrued interest which cumulatively stands at over 20 million dollars to NEXIM Bank.<\/p>\n<p>\u201cThe over N1.36 billion, on the other hand, is a refund Heritage Bank is making on behalf of Paytech Technology Limited, for which the bank had provided crystallised bank guarantee, on a loan Paytech took from NEXIM Bank.<\/p>\n<p>\u201cPaytech failed to pay back.<\/p>\n<p>\u201cThese figures are cumulative refunds Heritage Bank has been making to NEXIM Bank since 2017 following the intervention and investigation by the Presidential Panel.<\/p>\n<p>\u201cThe Panel found the bank culpable and caused it to refund its indebtedness to NEXIM Bank.<\/p>\n<p>\u201cAll recoveries so far made by the Panel have been remitted to NEXIM Bank, and more are expected,\u201d she said<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Special Presidential Investigation Panel for the Recovery of Public Property (SPIP) said it has recovered N1.36 billion and 10.29 million dollars belonging to Nigerian Export and Import (NEXIM) Bank. Head, Media and Communications of the panel, Ms Lucie-Ann Laha, stated this in a statement in Abuja on Friday. She said that the funds were [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":116024,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[2043],"class_list":["post-116023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-nexim-bank"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts\/116023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=116023"}],"version-history":[{"count":0,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/posts\/116023\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=\/wp\/v2\/media\/116024"}],"wp:attachment":[{"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=116023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=116023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arewa.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=116023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}