CAC topshot killed over N747b bank debt recovery


CAC There were indications yesterday that security agencies are probing a fresh clue linking the assassination of an Assistant Director of the Corporate Affairs Commission, Abubakar Umar Abba, to his roles on how some of the N747 billion bad loans were recovered.

It was also learnt that the Economic and Financial Crimes Commission has beefed up security for its key operatives involved in the debt recovery.

Abba was shot dead in his car by unknown gunmen on Thursday night and burnt by the assailants to cover up their track.

The Nigeria Police had initially regarded Abba's accident as a consequence of an auto-crash.
But it was learnt that other security agencies were ordered by the Presidency to 'improve on police preliminary finding.’
But it was learnt that other security agencies were ordered by the Presidency to ‘improve on police preliminary finding.’

It was gathered that investigations by three security agencies revealed that Abba’s gruesome death might be connected with his ‘key roles in assisting the CBN and EFCC to look into records of some companies that benefited from over N747bilion non-performing loans.’

A highly-placed source said: "The deceased officer, in his capacity as the Special Assistant to the Registrar-General of the CAC, conducted thorough searches on some of the firms given huge loans by the eight banks whose Managing Directors were removed.

"Apart from identifying many fake companies used to siphon funds through dubious loans, he was also meticulous in exposing the companies owned by some of the ex-MDs of these banks.

"So, we are working on a strong clue that Abba was killed for his diligence and commitment to work. He did the job in such a manner that we were able to uncover that these companies existed on paper."

The source also added: "So far, intelligence reports are zeroing on this clue and all security agencies have been directed to fish out the assassins."

It was however gathered that the latest clue has forced the EFCC to beef up security for some of its crack operatives/investigators that were part of the debt recovery.

A top source said: "We have asked these patriotic operatives not only to be extra-security conscious but we have strengthened their security network.

"I won’t give you the details but we are watching our back more than ever before."

Oh God, have mercy on us! Men now kill at will, without fear of God. What is Nigeria turning into? Righteousness is now a sin. God save your people!