The Economic and Financial Crimes Commission, EFCC, has invited the Managing Director of Skye Bank, Timothy Oguntayo, over the bank’s alleged refusal to remit N6.3 billion to government’s Treasury Single Account.

The anti-graft body also invited the bank’s chief compliance officer following the bank’s alleged failure to adhere to government’s directive on the movement of funds to TSA in money deposit banks.

Sources at the EFCC said that the two top executive officers were invited when it was found that government funds were still being concealed in two separate accounts in the bank.

The money belonged to the defunct Presidential Implementation Committee on the Alienation of the Federal Government Landed Property.

The authorities of the bank were said to have overlooked the huge deposits in its TSA compliance arrangement despite the accounts being dormant since 2011.

http://www.saharaweeklyng.com/skye-bank-md-in-trouble-over-alleged-6-3bn-scandal-why-efcc-invited-him/

“There is strong suspicion that the funds were covertly hidden from the government as only the bank and members of the committee that had long wounded up operation are aware of its existence,” a source said.

The committee which had B.B. Awojide as Secretary, operated from Room 4A, on the third floor of the Federal Secretariat, Phase1.



Both accounts have already been blocked by the EFCC, while investigations continue.

Meanwhile, the source said the commission also recovered $2.33million from one of the suspects in the arms procurement contract scandal in the Office of the National Security Adviser.

FAKE NEWS

Our attention has been drawn to a report in Sahara Reporters and other r publications stating that the GMD and the Chief Compliance Officer of Skye Bank have been invited by the EFCC over an alleged non remittance of funds belonging to the Presidential Implementation Committee (PIC) to the CBN in compliance with the TSA directives.

As at the time of the said Sahara reports, neither the GMD nor the Chief Compliance Officer of the Bank had seen any such invitation. More importantly however, the balances in the said PIC account had since been moved to the CBN in compliance with the TSA on 2nd of October 2015 and the account closed.

Skye Bank thus does not maintain any account nor hold any funds belonging to the PIC as at today.

We have however received the invitation. These facts and clarifications will therefore be provided to the EFCC or any investigating agency on the subject.


Nduneche Ezurike
Head, Strategic Brand Management,
Skye Bank