Skip to main content

40 Vehicles Recovered From Ex-Perm Sec Bought With BANK LOAN

The over 40 vehicles allegedly recovered from a former Federal Permanent Secretary by the Economic and Financial Crimes Commission, EFCC, might have been purchased with a N1.8 billion bank loan.

It was learned that the vehicles in question were purchased with a facility from a new generation bank, as part of the transportation plans for the Jonathan/Sambo Campaign arrangements for the presidential election in 2015.

A source close to the Campaign Organisation clarified that contrary to the generally held view that the vehicles were purchased with corruption money, they were paid for with the facility.

As learned, some of the vehicles that came into the campaign pool as donations or purchased with party funds had already been distributed or returned to the donors, while those bought with the loan were kept in the custody of the former Perm Sec while arrangements were on to sell them in order to re-pay the loan. The N1.8 billion loan was obtained on November 20, 2014 for the purchase of ‘luxury vehicles for VIP use’ with an extended repayment plan beginning from December 2016.

The loan was said to have been released in five tranches and the bank had made statements to EFCC detailing the transactions in September, last year. The bank was said to have informed the EFCC that the loan followed due process and that those who took the facility could not be said to have defaulted as at then since the
Post a Comment

Popular posts from this blog

FG and labor leaders to meet today over planned strike action against increased pump price

The Federal government, leaders of the Nigeria Labor Congress NLC ‎and Trade Union allies will be meeting today May 16th to discuss on the planned strike action by the Labor congress. The labor leaders on Saturday May 14th gave FG till midnight of Tuesday May 17th to revert to the old pup price of petrol of N86.50 or face a total strike that may begin on Wednesday May 18th.

The Federal government and Labor leaders' meeting will hold at the office of the Secretary to the Government of the Federation in Abuja by 10am..

Those expected at the meeting include Minister of Labor Chris Ngige, leaders of NLC, TUC, Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, and their Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN counterpart.

Badoo Srine Discovered,Alaka Abayomi Of Alaka Petroleum Apprehended(Video)

The Nigerian police SARS, IRT and RRS, has arrested a popular independent oil marketer of Alaka petroleum Alhaji Abayomi Alaka . Following investigations of the recent killing of a family of five over the weekend , kudos to the gallant men of the Nigerian police