Cecilia Ibru Currently Being Interrogated By Efcc - Breaking News

The investigation is to determine if the malpractice acts were out of genuine incompetence, or in pursuit of a personal gain. In the case of the latter, it becomes an issue of embezzlement and abuse of office, criminal offences.

they should free the lady jare, the whole issue is pissing me off

I doubt if anything substantial will come out of the EFCC meetings. CBN has gotten what it wants, EFCC investigation will not achieve anything.

It would have been different if EFCC had fingered them as being suspected of un-ethical (possibly illegal) practices in the first place which would have forced CBN to act but doing it this way complicates things.

CBN has achieved what it wants but EFCC involvement is just a waste of time and blatant opportunism!

The best thing to do now is to go on our knees for our beloved and only country,  Nigeria is our home

It's quite unfortunate that this issue was blown out of proportion and many of us that looked at this issue critically believed that what Malam Sanusi did was not bad but he (Malam) took a wrong approach and was just hasty in his decision.

The sector is very sensitive to the extent that is the only sector that makes few things that are working in the country presently made possible. A lot of questions have been asked which Sanusi failed to proffer solutions or rather unanswered. Such questions like:

1. Why not conclude the investigations of all 24 Banks before taken actions?
2. Why not asked the lender (banks) the modalities involved in given out the loan?
3. Where they Capital Project loan or Business loan?
4. Why not investigate the circumstances surrounded the borrower not to pay back?
5. Why not investigate the kind of business venture the borrowers undertake?
6. Why not Gives the CEOs opportunity to defend themselves before the axe?
7. During all these, why not asked all the bank to suspend lending pending the investigations will be concluded?
8. Once the CEOs are guilty, why not asked them to resign given say 20, 30, 40 minutes or an hour to resign?
9. Why declared borrower wanted knowing fully that lending or borrowing is not a crime?
10. Why Going to UK to stage rally to convinced them of your action while people back home were not convinced of your actions? And a lot of questions were raised without been answered.

However, its obvious that the chairperson of EFCC lack basic knowledge needed to be at helm of affairs of the EFCC. You cannot just asked to start running without asking them that where I am running to. She had suffered one defeat now. Those that were glaring that they embezzled public fund were nether arrested nor prosecuted. Where is the case of Ndidi Elumelu and co?

Let's wait and see the end of this and if it will not will not disappear into the air in next couple of months. I also believe that some of these CEOs and their EDs will be reinstated.

Let's be following the drama.

God Bless us

Madam did an honourable thing by turning herself in. Now she has all the time to defend herself with the best lawyers. I wish her luck

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hmmm funni people prevail in this thread

i think its obvious some conduct has be broken??

i think its quite too soon to pass a jugdement

this is one of the wahala nigeria just cant get off the hook

leave who alone? BBC had it on new24; banking crisis in nigeria; hmm woman given herself up to the police

some of your lethal analist should get this in your head that nigeria aint created for some theives?

this is just to send message to those pendin idots

imagine a suitation when a governor with all the loots abound is cryin out on kidnappers!! well there will be time emm they might not have a choice to doin the right thing

cuz embezzle all and live large while the surroundin are filled with filth arent helpin out any longer!


becomerich

as for a prersident, hahha

It's quite unfortunate that this issue was blown out of proportion and many of us that looked at this issue critically believed that what Malam Sanusi did was not bad but he (Malam) took a wrong approach and was just hasty in his decision.

The sector is very sensitive to the extent that is the only sector that makes few things that are working in the country presently made possible. A lot of questions have been asked which Sanusi failed to proffer solutions or rather unanswered. Such questions like:

1. Why not conclude the investigations of all 24 Banks before taken actions?
2. Why not asked the lender (banks) the modalities involved in given out the loan?
3. Where they Capital Project loan or Business loan?
4. Why not investigate the circumstances surrounded the borrower not to pay back?
5. Why not investigate the kind of business venture the borrowers undertake?
6. Why not Gives the CEOs opportunity to defend themselves before the axe?
7. During all these, why not asked all the bank to suspend lending pending the investigations will be concluded?
8. Once the CEOs are guilty, why not asked them to resign given say 20, 30, 40 minutes or an hour to resign?
9. Why declared borrower wanted knowing fully that lending or borrowing is not a crime?
10. Why Going to UK to stage rally to convinced them of your action while people back home were not convinced of your actions? And a lot of questions were raised without been answered.

However, its obvious that the chairperson of EFCC lack basic knowledge needed to be at helm of affairs of the EFCC. You cannot just asked to start running without asking them that where I am running to. She had suffered one defeat now. Those that were glaring that they embezzled public fund were nether arrested nor prosecuted. Where is the case of Ndidi Elumelu and co?

Let's wait and see the end of this and if it will not will not disappear into the air in next couple of months. I also believe that some of these CEOs and their EDs will be reinstated.

Let's be following the drama.

God Bless us

@ibgreat
I agree with u.

The rich also cry I guess

@pls let safe d face of dis woman,na god go judge,she is innocent until she prove guilt.

I had tried to refrain from commenting on this issue. Watching Nigerians debate and view opinions shows why the country is not prospering. People are just damned ignorant. Becomerich is one of the few that have made any sense at all. Mob justice seems to be the rule of the day without careful analysis. If Nigeria continues this way, we will indeed continue going backwards.

Commercial loans all come with a default clause. The default clause spells out the process that will be taken for recovery if and when there is a default. The borrower has to sign/initial the default clause before the loan can be in agreement. This is the process everywhere in the world and this is the rule of law. You do not harrass or jail people for borrowing money unless they used fraudulent information/lies in their application for the loans.

When loans are signed, there is also a process of disbursement. The process of disbursement guarantees that values are added to the initial capital as disbursements are made. Take for example a loan for the construction of a home. Land is cleared and foundation is set and poured. There is a percentage of completion that has happened and added value to the monies being spent. After that, the different phases are embarked upon through completion and the Banks inspectors will inspect each phase and release the funds as a pecentage of completion.

When the home is fully completed, it has automatically gained value because it is now a home and not just raw land anymore. This value is usually higher than the loan received for the construction. The Bank would have also required some case investment from the borrower, and would probably not invest more than 75% into it.

Now note that there is the added value gained, as well as the down-payment that the borrower put up to receive the loan. The total amount of the loan received from the Bank remains in the project with additional values. THIS IS THE COLLATERAL FOR THE LOAN!!!!. Due diligence done by the Bank to ascertain the market price of the finished product will have shown that the project will be capable of paying back the loan and financial charges in the case of a default, even when sold at auction rates.

The average Nigerian commenting on these Bank issues are not qualified to have an opinion but should focus on reading and learning. In the USA as Becomerich has mentioned, the average person with a good credit history of 3 years can use only their signature to get a loans totalling over $200,000.00, or approximately 5 times their yearly income at a minimum. In some cases you can leverage up to 20-1, which means if you have cash assets of $1000.00, you can use that alone to get a loan of $20,000.00.

When for some reason such as losing your job or falling sick and cannot make your payments, the Banks based on your particular circumstances may choose to renegotiate your loan and freeze payments for like 6 months to allow you to recover and continue with your payments. These are civilized and Lawful Nations. Nigeria's barbaric approach only makes us more of a laughing stock to the world. We are not a civilized society

What further surprises me is that our Nigerian lawyers have not approached the Supreme court to challenge the process being carried out to get a constitutional ruling on it. A Law enforcement organization such as the EFCC is not a private debt collector and should not be used to intimidate and muscle people as in the Mafia. In civilized countries, this agency will have been aued almost automatically by Constitutional lawyers and many briefs will have been filed as friends of the court in regards to the issue. Lawyers are sworn to protect the law and it is thus their duty to challenge any process that is contrary to the law. What we hear instead of protecting the human rights of every Nigerian is a warning to the EFCC via the media. This shows their laziness and lack of prudence about the protection of the country or her citizens. EFCC should be sued for damages and sanctioned heavily in a class action suit to prevent irrational behaviour in the future.

We are very much in trouble when our Police agencies in Nigeria are being used as thugs outside of the legal procedures required by law. Mrs Ibru should not have been declared wanted unless there was a basis for her to be charged.  She has a right to refuse to make any statements to the EFCC and challenge them to produce evidence of wrong doing and arrest her. The Law should be competent in building a case and then requesting an arrest warrant rather than harrassing people without having a case built against them. Mrs Ibru has a right to be paid at least 10 times her fees for her time and be awarded damages for emotional issues and character assassination if no case can be built against her.

Until Nigeria's legal community stand firm to uphold the rights of every Nigerian/Person, Nigeria will unfortunately continue to be a place that foreign investments will be frowned upon.

There they go again, i beg make them leave this woman joo. Why are other banks not audited since.They have a hidden agenda. Make them no just bobo us joooo,