Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,154,592 members, 7,823,576 topics. Date: Friday, 10 May 2024 at 11:55 AM

Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud - Business (9) - Nairaland

Nairaland Forum / Nairaland / General / Business / Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud (21313 Views)

Oceanic Bank Now Eco Bank? / Loan: Jimoh Ibrahim Pays N3bn To Oceanic Bank / Assistance Wanted: Swift Code Of Oceanic Bank Nigeria (2) (3) (4)

(1) (2) (3) ... (6) (7) (8) (9) (10) (11) (Reply) (Go Down)

Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by Sagamite(m): 5:27pm On Oct 10, 2010
buzugee:

right right. thats about 15 million people.  and if you are very good at what you do ? just like facebook, through word of mouth you can capture an audience of 50 million people nigerians home and abroad. you have to be extremely good though. have lots of pictures to corroborate your accusations. you may have to pay someone to be a photographer. you will be to nigerian politics what perez hilton is to american entertainment blog. can you believe that through writing a blog, this american dude named perez hilton became a household name ? its very do-able. the question is how fiery is your passion ? abi you just dey make mouth  grin grin

More than oyinbo self? Wow!

I never saw it that way. I hardly or rather don't read any blog at all (well apart from BBC's Robert Peston).  I guess the reason is that I am too in love with listening to myself speak, I can't be bothered finding other intelligent people.  grin I get too turned on listening and marveling at my intellect to the point the ogazim is out of this world.

Sometimes when I am delivering my piece on NL, my neighbours are complaining about the strange noises they hear when I get to a climax. I am just screaming in tongues "aahh wasawasawasa, whoooooooooh, whoooooooh, sshhhhhhhhhhh, OOOOOHHHH LAAAWD, gaaaddamit, shuku shuku bam bam" as I dey come due to the sexiness of my intellect.  grin grin grin grin grin

Yeah, I am good and passionate, it is not just mouth.  cool grin
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by eros(m): 5:47pm On Oct 10, 2010
I will keep this for record purpose and also print it out and keep it in my car, incase the opportunity to steal this kind of money ever presents itself. If i am ever caught and arraigned before a court of law, i will simply plead guilty, return 1/4 of the assets, comfortably do six months in jail and return to live the good life.  grin grin grin

THAT IS THE NIGERIAN DREAM MY FRIENDS.

Because in Nigeria, the more you steal the lesser your prison sentence and punishment. The less you steal, the more your prison sentence.
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by Remii(m): 5:55pm On Oct 10, 2010
All said and done, why would Guardian and Vanguard not say anything about "Cecilia Goes to Jail". Even with so much noise about "Conscience Nurtured by Truth" motto of Guardian. lol
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by Sagamite(m): 6:11pm On Oct 10, 2010
Remii:

All said and done, why would Guardian and Vanguard not say anything about "Cecilia Goes to Jail". Even with so much noise about "Conscience Nurtured by Truth" motto of Guardian. lol

LWKMD

I wonder o!

Please give my show and let me invite the retarded Editors in.
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by Obalende: 6:51pm On Oct 10, 2010
no human being should own this much in a country where there is so much poverty. This is classical greed in all it's ramifications.
it doesnt work like that. as long as the money was legally acquired, no problem.

i expect oceanic bank shares to appreciate noww : )
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by martinosi: 6:59pm On Oct 10, 2010
KnowAll:


I agree with this gentleman, what is the point picking up the guy/girl who do the deed and close case. When other co-conspirators are still enjoying the largesse of other people's money.

HOW MANY FEMALES ARE CEO's/MD's OF BANKS IN NIGERIA

NAME ME 5?

WHY ARE NIGERIANS SO BLIND SOMETIMES TO READ BETWEEN THE LINES

DID NOT A REPORT COME OUT SOMETIME AGO THAT ALL THE MD's OF THE BANKS UNDER
INVESTIGATION WHO WERE TOLD TO STEP DOWN WERE ABSOLVED FROM CHARGES

YOU CANNOT BE A FEMALE IN THAT KIND OF POSITION IN NIGERIA AND NOT BE SUBJECT
TO HEAVY/SERIOUS SCRUTINY!!!


WE HAVE TO START A RULE ON NAIRALAND THAT WHEN YOU POST A COMMENT ABOUT SOMEONE OR
AN ISSUE YOU HAVE TO BACK IT UP WITH SOME EVIDENCE ie a link etc, !!! TOO MANY PEOPLE RUNNING THEIR MOUTH AND CAUSING USELESS CONFLICT/ARGUEMENTS!!!
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by GreatOBC(m): 7:57pm On Oct 10, 2010
WALAHI! only me na hin get ds big money.
GUYS, NA SIX YRS OR NA MONTHS?
GOD ALMIGHTY NA U BIKO! Abeg papa God deliver our country from THE STRONG PEOPLE. Amen
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by tunfeek: 8:27pm On Oct 10, 2010
vanity upon vanity
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by PastorOla1: 8:40pm On Oct 10, 2010
She may spend the jail term in the comfort of a Highbrow Reddington Hospital Lagos. And that she wante to get over this phase of her life as quickly as posible in order to go an enjoy the remaining undiscovered loots. E gba mi!!!! This Naija 4 u an 4 real!!!!!!!!!
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by TokeB: 8:58pm On Oct 10, 2010
I know I am in the minority here but I would say this is a step in the right direction. She is not the first to do such but she is the first to go to jail. I don't care if it is just one day the fact that all her deeds were put out and she had to forfeit a huge amount of her assets is a good thing. Even in America not every criminal serves a good amount of time in jail. Alot of people reach plea bargains and what not.  Also there is judicial process, even when you know someone is guilty it doesn't mean you have hard evidence to convict of a certain crime. Example, OJ Simpson everyone knows he killed that woman but there was no hard evidence. For all we know Ms. Ibru could have given vital information that could help put other corrupt individuals in jail in exchange for lesser time. [b]Sanusi promised in Washington DC yesterday that all former Bank MD's will go to jail. [/b]This woman is making headline news around the world, America and England are reporting it. She is finished. Before she can buy anything that requires money she would be probed long and hard. She might not be able to leave Nigeria ever again, because America and co can refuse to give her Visa. She will never be in an authoritative position ever again. Any money she spends would be looked as fraudulent even if she obtained it legally. Everyone from the woman selling her dodo can laugh at her because she is a convicted criminal. For a woman like Cecelia Ibru who used to be respected this is the lowest of low! I rather have people like armed robbers and people who threaten the lives of humans in jail over Cecelia Ibru anyday. The shame she has received and brought to her family is as bad as any life jail sentence. We can't get it right everytime, but I would at least congratulate the system for doing something no matter how little. Before someone can still such amount of money again they would think twice.
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by clip: 10:13pm On Oct 10, 2010
I am waiting for the out come of other MD{s}.So that it will not be a selective justice.
So far,good progress
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by obums(m): 10:20pm On Oct 10, 2010
i Cant Believe that its only 1 person that owns all that,and am sure she still wants,people neva satisfied,
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by KnowAll(m): 11:31pm On Oct 10, 2010
Nigerians are illetrates, 98% of correspondence keep on harping on stealing. How could it be theft, when there are traces of how the money was spent OR apportioned, thus funds were given to individuals and companies albeit and with the benefit of hindsight,  Ibru has links to these entitites, the proper demeanour OR name for this kind of crime  is mis-appropiation, combined with gross misadventure using share-holders equity,  bordering on bad advise. Having said that,  if the deal had brought-in enough profit, the same share-holders would not complain if their diviends where larger than previous years.

There was also a bit of nepotism, double standard, conflict of interest and falling foul of Bankig rules and guidelines. Her detrator in no other person than Sanusi is a beneficiary of the same broken system, the only reason why he was able to nail Ibru and Akingbola and the Chief Executives was  becos he has what is called " inside knowledge" of the unruly and unethical banking culture that is prevalent in the Banking industry.

We must not lose sight of the fact that it takes " a thief to catch a thief". Sanusi has not done anything extra-ordinary he has only broken the secrecy in the Banking fraternity, in Yoruba language they say " o dale " which means he has broke an oath of secrecy which is prevalent in that industry.

Sanusi is just a shameless whistle blower who cannot cut it in the rough and tumble of Banking, he tried to compete,  but those guys where just not in the same league as him, what did he do,  when he became CBN Governor,  he chose  the simplest way out,  spilling the beans in the industry that to me is not bravery but cowardly.

Nigerians should see the cataclysm in the Banking Industry has a fallout of greedy and selfish men fighting over the overwhealming wealth and power some insiders within the industry have made to the detriment of sulkers like Sanusi who out of envy and jealousy result to bullying.  They say when two elephants fight, it is the grass that would suffer. We are all suffering from the ego tripping fight by these shameless Bankers.

No man of honour would go down this road of shameless perdition for a few fistful of dollars, but that is the road Sanusi chose and some of us want to follow suit. To say the Banking industry would remain in the doldrums for decades would be under-statement. That Industry is dead and buried only an act oof God would revive what today is tantamount to safe keeping houses without a focus nor a value to stir any interest from foreign investors.

I thought Sanusi came to London to hawk his damage goods not suprise there were no takers, I wish him the best of luck next time.  undecided

Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by Ibime(m): 11:56pm On Oct 10, 2010
Knowall,

Just sharrap. Your heroes are thieves and they have been mystified. Dead body has already been buried and you are still here yarning opata.

Sanusi is man of the year for 2009. Kudos to his bravery. If Nigeria had more like him, we would all be happy with our lot.
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by aktunde(m): 12:41am On Oct 11, 2010
With this kind of judgement, corruption will never end in Nigeria. Imagine getting just 6 months imprisonment for all these? when one of my brothers saw all she acquired, he categorically told me that he would not mind going to jail for 10 years if he can acquire all these either legally or illegally. Can you see? This is a man who has a good character, and who would be seen as a good role model. But look at what he just said! Because corruption is now fashionable. So, how does the country stop corruption when some people are hardly found guilty? And when the rich ones are found guilty, they get those kind of crazy jail terms? If someone I hold in high esteem says he would agree to go 10years for similar offence, then what is the hope for this country?
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by buzugee(m): 4:25am On Oct 11, 2010
Sagamite:

More than oyinbo self? Wow!

I never saw it that way. I hardly or rather don't read any blog at all (well apart from BBC's Robert Peston).  I guess the reason is that I am too in love with listening to myself speak, I can't be bothered finding other intelligent people.  grin I get too turned on listening and marveling at my intellect to the point the ogazim is out of this world.

Sometimes when I am delivering my piece on NL, my neighbours are complaining about the strange noises they hear when I get to a climax. I am just screaming in tongues "aahh wasawasawasa, whoooooooooh, whoooooooh, sshhhhhhhhhhh, OOOOOHHHH LAAAWD, gaaaddamit, shuku shuku bam bam" as I dey come due to the sexiness of my intellect.  grin grin grin grin grin

Yeah, I am good and passionate, it is not just mouth.  cool grin
even if you do say so yourself grin grin grin grin
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by Carlmax(m): 4:41am On Oct 11, 2010
MY GOD shocked shocked shocked forbes keep saying dangote is worth less than 4 billion dollars and he is the richest in Nigeria,,,,, u never can tell the worth of a Nigerian, if 1 billion dollars is taken from Oprah she would be bankrupt , but i believe cecelia still has more from where this came from,
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by oisehumen(m): 6:52am On Oct 11, 2010
Only 6 months for this kind of crime against humanity?
A lady was jailed 75 years last week for stealing stipends.

God will judge our judiciary in this country
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by odedele: 8:09am On Oct 11, 2010
now dat d stolen funds will b recovered hope d innocent staff sacked will also b recall
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by dpresido(m): 8:12am On Oct 11, 2010
Good and fine. Judgement passed. property identified for forfeiture and subsequent sale. My own growse now is upon the sale of the said properties, where does the money now go to? Sure to same pocket of kleptocrats in government and self acclaimed kingmakers. It would have made additional sense if upon such sales, there are definite creation of jobs and value addition to an average Nigerian lives. We heard some millions abi billions were recovered from Abacha family, tafa Balogun etc, What were those money invested or ploughed into What value was added to Nigerian Lives? In as much as we encourage the prosecution of criminals, I think it is high time the government also tell us what such recovered money are done with rather than be shared by those in power and use to prosecute their selfish political ambition. God will definitely save us one day. sad sad sad sad sad
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by mbulela: 8:19am On Oct 11, 2010
KnowAll:

Nigerians are illetrates, 98% of correspondence keep on harping on stealing. How could it be theft, when there are traces of how the money was spent OR apportioned, thus funds were given to individuals and companies albeit and with the benefit of hindsight,  Ibru has links to these entitites, the proper demeanour OR name for this kind of crime  is mis-appropiation, combined with gross misadventure using share-holders equity,  bordering on bad advise. Having said that,  if the deal had brought-in enough profit, the same share-holders would not complain if their diviends where larger than previous years.

There was also a bit of nepotism, double standard, conflict of interest and falling foul of Bankig rules and guidelines. Her detrator in no other person than Sanusi is a beneficiary of the same broken system, the only reason why he was able to nail Ibru and Akingbola and the Chief Executives was  becos he has what is called " inside knowledge" of the unruly and unethical banking culture that is prevalent in the Banking industry.

We must not lose sight of the fact that it takes " a thief to catch a thief". Sanusi has not done anything extra-ordinary he has only broken the secrecy in the Banking fraternity, in Yoruba language they say " o dale " which means he has broke an oath of secrecy which is prevalent in that industry.

Sanusi is just a shameless whistle blower who cannot cut it in the rough and tumble of Banking, he tried to compete,  but those guys where just not in the same league as him, what did he do,  when he became CBN Governor,  he chose  the simplest way out,  spilling the beans in the industry that to me is not bravery but cowardly.

Nigerians should see the cataclysm in the Banking Industry has a fallout of greedy and selfish men fighting over the overwhealming wealth and power some insiders within the industry have made to the detriment of sulkers like Sanusi who out of envy and jealousy result to bullying.  They say when two elephants fight, it is the grass that would suffer. We are all suffering from the ego tripping fight by these shameless Bankers.

No man of honour would go down this road of shameless perdition for a few fistful of dollars, but that is the road Sanusi chose and some of us want to follow suit. To say the Banking industry would remain in the doldrums for decades would be under-statement. That Industry is dead and buried only an act oof God would revive what today is tantamount to safe keeping houses without a focus nor a value to stir any interest from foreign investors.

I thought Sanusi came to London to hawk his damage goods not suprise there were no takers, I wish him the best of luck next time.  undecided



dude, you came late to the party.
Naijaking1 et all all tried this line of reasoning, today they are hiding their heads in shame.
your argument is hollow.
Sanusi did not send Ceceilia to steal.even if he did, she should have resisted the temptation, afterall she has the Holy Spirit in her.
Sanusi and Cecelia are not in the same league you are right. a look at their resumes confirm that.
Cecelia was never qualified to be a Head of Operations in the smallest branch of Oceanic, let alone a bank CEO.only in Naija.
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by Sagamite(m): 8:29am On Oct 11, 2010
Toke B.:

I know I am in the minority here but I would say this is a step in the right direction. She is not the first to do such but she is the first to go to jail. I don't care if it is just one day the fact that all her deeds were put out and she had to forfeit a huge amount of her assets is a good thing. Even in America not every criminal serves a good amount of time in jail. Alot of people reach plea bargains and what not.  Also there is judicial process, even when you know someone is guilty it doesn't mean you have hard evidence to convict of a certain crime. Example, OJ Simpson everyone knows he killed that woman but there was no hard evidence. For all we know Ms. Ibru could have given vital information that could help put other corrupt individuals in jail in exchange for lesser time. Sanusi promised in Washington DC yesterday that all former Bank MD's will go to jail. This woman is making headline news around the world, America and England are reporting it. She is finished. Before she can buy anything that requires money she would be probed long and hard. She might not be able to leave Nigeria ever again, because America and co can refuse to give her Visa. She will never be in an authoritative position ever again. Any money she spends would be looked as fraudulent even if she obtained it legally. Everyone from the woman selling her dodo can laugh at her because she is a convicted criminal. For a woman like Cecelia Ibru who used to be respected this is the lowest of low! I rather have people like armed robbers and people who threaten the lives of humans in jail over Cecelia Ibru anyday. The shame she has received and brought to her family is as bad as any life jail sentence. We can't get it right everytime, but I would at least congratulate the system for doing something no matter how little. Before someone can still such amount of money again they would think twice.

You make a lot of sense although I don't particularly agree with the bolded.
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by edoyad(m): 8:33am On Oct 11, 2010
^ ouch to the last part of your reply. grin
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by Sagamite(m): 8:34am On Oct 11, 2010
KnowAll:


There was also a bit of nepotism, double standard, conflict of interest and falling foul of Bankig rules and guidelines. Her detrator in no other person than Sanusi is a beneficiary of the same broken system, the only reason why he was able to nail Ibru and Akingbola and the Chief Executives was  becos he has what is called " inside knowledge" of the unruly and unethical banking culture that is prevalent in the Banking industry.

We must not lose sight of the fact that it takes " a thief to catch a thief". Sanusi has not done anything extra-ordinary he has only broken the secrecy in the Banking fraternity, in Yoruba language they say " o dale " which means he has broke an oath of secrecy which is prevalent in that industry.

Sanusi is just a shameless whistle blower who cannot cut it in the rough and tumble of Banking, he tried to compete,  but those guys where just not in the same league as him, what did he do,  when he became CBN Governor,  he chose  the simplest way out,  spilling the beans in the industry that to me is not bravery but cowardly.

Nigerians should see the cataclysm in the Banking Industry has a fallout of greedy and selfish men fighting over the overwhealming wealth and power some insiders within the industry have made to the detriment of sulkers like Sanusi who out of envy and jealousy result to bullying.  They say when two elephants fight, it is the grass that would suffer. We are all suffering from the ego tripping fight by these shameless Bankers.

No man of honour would go down this road of shameless perdition for a few fistful of dollars, but that is the road Sanusi chose and some of us want to follow suit. To say the Banking industry would remain in the doldrums for decades would be under-statement. That Industry is dead and buried only an act oof God would revive what today is tantamount to safe keeping houses without a focus nor a value to stir any interest from foreign investors.

I thought Sanusi came to London to hawk his damage goods not suprise there were no takers, I wish him the best of luck next time.  undecided


Are you retarded?

Do you have some drugs you take but your mental virus has mutated that the drugs no longer functions?
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by dont8(m): 8:51am On Oct 11, 2010
On 35% they stand,woMEN are
now rubbing shoulder to
shoulder with men including
stealing and corrupt
enrichment,women used to be
conscience of the nation but
opposite is the case today,it's a
shame.
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by BigPhil(m): 10:00am On Oct 11, 2010
I don't know which one is worst.The amount of money stolen shocked or the patronising sentence given shocked .
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by kemisuga(f): 10:37am On Oct 11, 2010
Fainted over and over again. shocked shocked shocked shocked shocked shocked shocked shocked shocked
cry cry cry cry cry cry cry cry cry cry cry cry cry cry cry cry cry cry
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by Akuviv: 10:43am On Oct 11, 2010
Hi All,

I got this from the Punch newspaper on line (Archives).

Cecilia Ibru forfeits N191bn assets, gets 18 months jail term
By Tony Amokeodo and Ademola Alawiye
Saturday, 9 Oct 2010

A Federal High Court in Lagos on Friday sentenced a former Chief Executive Officer of Oceanic Bank International Plc, Mrs. Cecilia Ibru, to 18 months imprisonment without an option of fine for granting $20m and N2bn credit facilities above the approved limit by the Central Bank of Nigeria.

The Economic and Financial Crimes Commission had prosecuted the ex-CEO on a 25-count charge of financial crimes before she entered into a plea bargaining with the anti-graft agency and pleaded guilty to a reduced three-count charge on Friday.

The Chief Judge of the FHC, Justice Dan Abutu, thereafter convicted Ibru on the said three-count charge and ordered the forfeiture of her N191bn assets comprising 49 properties in Nigeria, United States and Dubai, United Arab Emirates, to a Federal Government agency, the Assets Management Corporation of Nigeria.

The forfeited properties include shares in over 100 firms that are listed and not listed on the Nigerian Sock Exchange.

The CJ added that the convict was sentenced to a six-month imprisonment on each of the counts, saying that the terms would run concurrently.

The development indicated that the ex-banker would only spend six months in Ikoyi Prisons.

But the CJ added a caveat when he directed the prison authorities to take the convict to a highbrow hospital, Reddington Hospital, Victoria Island, Lagos, for continuation of treatment, following a passionate appeal by Ibru‘s lead lawyer, Prof. Taiwo Osipitan (SAN).

Osipitan, who led Mr. Wale Akoni (SAN) and other lawyers, had during an (plea for leniency), urged the court to take judicial notice of the fact that his client was suffering from chronic cardiac problem, saying that specialists in the hospital had to remove some gadgets from Ibru in order to allow her to come to court and take her plea.

He added that there was an agreement between the parties on his client‘s health status, urging the court to direct the prison authorities to return her to the hospital upon conviction.

He raised the alarm that his client‘s situation was critical and urged the court to avoid an unfortunate situation where a former member of the House of Representatives, Morris Ibekwe, who was in a similar situation, was ignored on the grounds that he was feigning sickness but eventually died.

Osipitan claimed that his client built the bank from nothing to something, saying that her prayer was that the bank should continue to grow while she attended to her failing health.

The appearance of the convict, who was assisted into the courtroom by her relatives in a blue skirt suit, showed that she was indisposed, as the court had to allow a doctor to attend to her during the proceeding.

But the lead lawyer to the EFCC, Mr. Kola Awodein (SAN), who led Dr. Konyinsola Ajayi, SAN, Mr. Damien Dodo (SAN), Mr. Godwin Obla and Mr Rotimi Jacobs, informed the court that justice was a three-way issue, saying that justice must be done on the case.

The senior advocate had earlier told the court that there was an agreement and urged the court to forfeit the properties attached to section VI of the settlement agreement to AMCON.

The CJ said, ”The accused is hereby convicted and sentenced to six months imprisonment on each of the three-count charge. The sentence is to run concurrently. In addition, all the assets set out in section VI of the settlement agreement are herby forfeited to AMCON.

“The prison authorities shall, not later than two hours after receiving the convict into their custody, take the convict to Reddington Hospital from where she was brought to court to continue her treatment until she is certified fit by the hospital authority to continue to serve her sentence in the prison.”

Ibru was sacked by the CBN along with the managing directors of four other banks on Aug. 14, 2009, following allegations of corruption, bad corporate governance practices and mismanagement of public funds.

The CBN had said last year that Oceanic Bank had a total non-performing loan of 278bn, which was 37 per cent of the total non-performing loan of the first set of rescued banks.

The CBN governor, Mr. Lamido Sanusi had said in an interview, “We looked at the institutions and saw in their books huge non-performing loans and when we entered the institutions, we discovered that 75 per cent of the non-performing loans were given to the companies directly related to the CEOs of those institution.”

The CBN alleged that Ibru engaged 19,000 workers for Oceanic Bank through a job consultancy firm fronting for her and the bank did not need such employees.
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by rectorship: 11:56am On Oct 11, 2010
Fellow Nigerians, sincerely i suggest that this Woman be convicted for life. This is unbelievable acquisition of illegal wealth. She deserv to be poisoned in that jail. Graduates in Nigeria are looking for ordinary 30,000 job per month to do, and some people are illegally making billons in minutes. It funny indeed. I repeat, hang this woman and distribute all these her illegal wealth to the poor people in Nigeria who can not even have acess to a meal per day.
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by chemberlin(m): 12:16pm On Oct 11, 2010
let be realistic here, this woman is just been pitied she will still come back after months and enjoy her investment, what of the once we dont know that she had kept secret , let ask God to provide for us,
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by bestman09(m): 12:39pm On Oct 11, 2010
Anything a man can do, a WOMAN can do better! Imagine the amount, big enough to establish 7 more banks! What a world, and she may never step into the KIRIKIRI prison at all. With a ''suit'' at the prestigious Reddinton Hospital, will she ever taste life as a prisoner?
Re: Former MD Of Oceanic Bank, Cecilia Ibru, Convicted Of Bank Fraud by ebunchi(f): 12:45pm On Oct 11, 2010
i really don't know what she want to do with all these money. may God help us in this country.

(1) (2) (3) ... (6) (7) (8) (9) (10) (11) (Reply)

Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink / Bank Execs Fingered Sabotaging New Naira Notes Distribution / Angry Customer Sues First Bank To Court Over Mastercard Fraud

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 98
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.