The Economic and Financial Crimes Commission (EFCC) has commenced probe of bank chief executives for allegedly living off depositors funds.
The Nation on Sunday reports that one or them was recently summoned by the EFCC on some infractions already noticed to avert stress.
Intelligence revealed that the CEOs have been hosting lavish parties, buying exotic vehicles, indulging in acquisition of properties at home and abroad, chartering, using jets on lease or outright purchase of jets through their cronies.
One of the executives who allegedly acquired a $5million jet, which is under investigation. The same CEO allegedly diverted proceeds of two ships in the custody of the bank to his personal account.
An EFCC source told the newspaper: “Intelligence at our disposal on some bank executives has shown that they have not learnt their lessons. Some of them still live big at the expense of the depositors.
“They have been acquiring exotic vehicles, properties at home and abroad, and either chartering, using jets on lease or outright purchase of jets. What they have possessed are beyond their income and allowable perks in office.
“There were allegations of the purchase of a $5million jet by a CEO but we are still investigating. One of them however recently blew millions of Naira at a party. Some of them even give loans to their cronies or front as part of insider abuse.
“We have placed these executives under watch. In fact, our detectives have grilled one of them. The management of the interrogated bank executive was also summoned on Wednesday where all the cards were laid on the table for them to see.
“What we are doing is to take precautionary measures to avert a repeat of the distress of 2008/2009. We want bank executives to keep to their ethics of their profession, protect depositors’ funds and avoid unnecessary luxury at the expense of their banks.
“It is a wakeup call for boards of banks to checkmate unnecessary spending. We will not release the list of the affected bank CEOs but those who should have relevant information to check them will be informed.”
