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EFCC quizzes Okereke-Onyiuke, Transcorp directors

ABUJA — DIRECTOR-GENERAL of the Nigerian Stock Exchange (NSE), Dr. Ndi Okereke-Onyiuke and five directors of Transnational Corporation (Transcorp), Wednesday,  made valuable statements to the Economic and Financial Crimes Commission (EFCC) as to their involvement in the N30.4 billion loan taken by the ailing Transcorp from Union Bank Plc, one of the five banks which recently got a N420 billion bailout from the Central Bank.

It was gathered  that the five directors: Nicholas Okoye, Anthony Ofili, N.Okoro the Managing Director, Adegboyega Olulade and Mohammed Nasir alongside the NSE DG made pledges as to when they will effect payment for the loans obtained by Transcorp.

DIRECTOR- 	GENERAL of the Nigerian Stock Exchange (NSE), Dr. Ndi Okereke-Onyiuke
DIRECTOR- GENERAL of the Nigerian Stock Exchange (NSE), Dr. Ndi Okereke-Onyiuke

Okereke-Onyiuke and the directors made the commitments yesterday at the EFCC office in Lagos as to how they will assist the anti-graft agency recover the money within the shortest possible time.

The anti-graft body had invited the former Governor of Rivers State, Dr. Peter Odili; the NSE DG, Dr. Okereke-Onyiuke and the five Transcorp directors over loans obtained from some of the five banks the Central Bank said had liquidity problems.

Dr Odili, according to a source, was owing about N189 million but had gone to court to contest the veracity of such claim.

Meanwhile, the EFCC has intensified efforts to ensure that more debtors pay up more of the debts as only N70 billion has been recovered so far.

When contacted, spokesman of the commission, Mr. Femi Babafemi confirmed that “the NSE DG and the Transcorp directors were quizzed by our operatives in Lagos.”


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