Bank Audit: EFCC Gives Debtors Two Weeks Ultimatum; Set To Probe Discount Houses

FARIDA WARIZI, EFCC CHAIRPERSON. Photo: NAN.

Abuja (THEWILL) - The Economic and Financial Crimes Commission has given debtors of the recently audited banks a two-week ultimatum to pay up or face “another round of action,”  which could include arrest and forfeiture of assets.

The notice is coming on the heel of reports from the nine banks which received N600 billion naira from the central bank that some debtors have reneged on their earlier promise to liquidate their debt as agreed.

There have been reports that some debtors who made part payments and promised to liquidate their balances within a time frame have not lived up to their promises.

Nigerian banks have been burdened by over 2 trillion naira of bad or non-performing loans, made out recklessly without due diligence and corporate governance during the Charles Soludo tenure as central bank governor.

“It is worrisome that those that made part payments with a promise to pay up within a certain period following the intervention of the EFCC, have failed on their terms. It is therefore necessary to remind them that the recent withdrawal of EFCC operatives from the banks should not be misconstrued or taken advantage of.”

“We wish to warn those that have reneged on the payment terms not to be taken by surprise at the end of the latest two weeks grace when the commission shall again move decisively against defaulters,” The commissioned warned.

In a related development, EFCC chairperson, Farida Waziri, announced on Monday, that the agency would focus its attention on discount houses, mortgage banks and other financial institutions in a bid to rid the system of money laundering and terrorist financing.

She made the remark at the Anti-Money Laundering/Counter Terrorist Financing Seminar where she lamented that money laundering and other financial offences were responsible for the country’s lack of development.

EFCC Secretary, Emmanuel Akomaye, represented Mrs. Waziri at the seminar.