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Removal of bank chiefs have no legal backing — Aribisala

By Chinelo Enemuo
Chief Ajibola Aribisala   has described CBN’s removal of bank chiefs as an illegal act.In his interview with Vanguard, he noted that the Economic and Financial Crimes Comission (EFCC) should be more concerned with bringing the debtors to book as well as recovering the money.

According to him, “I see no reason why these bank Chief Executives are punished while these debtors are still roaming about as free as air. “Is CBN now saying that the sins of those who gave out the money is higher than those who collected but have refused to pay back?”

Chief Ajibola disclosed that the reasons why the banks gave out loans without collateral stems from the fact that there was no collateral in sufficient quantity that could equate the billions collected as loans by the debtors, especially for the importation crude oil He said “What collateral could equal the billions these people collected from the banks to import crude which is a very essential commodity”

He also hinted that majority of the debtors were certified importers who were friends of the presidency.
According to him “these are people that were given the licence to import crude by the federal government.They are also friends of the presidency.

Whenever ther’s a donation to make in PDP ,you see them at the forefront of the donation with their billions of naira,so its only natural for the banks to release such amount of money to them without collateral.” Chief Aribisala went ahead to describe the attitude of these debtors as irresponsble.

He said “Their refusal to pay their debt only shows how irresponsible they are. They are not the only ones who took loans from the banks. I personally took over one billion naira and today, I have finished paying back the money”

He highlighted the fact that the banks are the major institution that play key roles in servicing the economy of the nation
We all know that the health of the banks are very necessary for the stability of our economy and without them our economy would be in danger.  He further recommended that the Federal government should do whatever it can  to fish out these debtors and compel them to return the money they collected from the bank.

“I plead with the federal government of Nigeria to employ whatever tactics it would take to get these debtors and make them return the money they took from the banks and indirectly from Nigerians.”


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