[size=14pt]How Bankole, Nafada obtained loan, by EFCC[/size]
By Kamarudeen Ogundele, Abuja

[img]http://www.thenationonlineng.net/2011/thumbnail.php?file=nafada_bankole_main_NEW_573709525.jpg&size=article_medium[/img]
Nafada and Bankole

A Witness of the Economic and Financial Crimes Commission (EFCC), Ibrahim Mohammed, yesterday told an Abuja High Court how former Speaker of the House of Representative Dimeji Bankole, obtained a N42billion loan from two banks and shared allowances among members.

The prosecution witness also accused Bankole of approving the increase in the allowances of his colleagues  from N17 million to N42 million per member in a quarter without the authorisation of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) and National Salaries, Income and Wages Commission.

Mohammed, an investigation officer with EFCC, was testifying in the suit filed by the commission against Bankole and his erstwhile deputy, Bayero Usman Nafada.

They are facing a 17-count charge of criminal breach of trust, dishonest use of a House of Representatives bank account to obtain loan filed against them by the EFCC.

The former Speaker was represented by Mr Wale Akanni (SAN).

Bankole and Nafada are accused of sharing the loan to members without the consent and approval of the RMAFC and the extant Revised Financial Regulations of the Federal Government of Nigeria, 2009.

The offences are contrary to sections 97(1), 286 and 311 of the Penal Code Act, Cap 532, Laws of the Federation of Nigeria (Abuja) 1990, and punishable under Sections 287 and 315 of the same Penal Code Act.

Led-in-evidence by the prosecution counsel, Festus Keyamo, Mohammed said the allowances paid to the House members were not captured in last year’s budget.

He said the alleged fraud was planned at a meeting Bankole chaired in his house, adding that the minutes of the meeting would be tendered as an exhibit to prove that the accused conspired to defraud the government.

http://www.thenationonlineng.net/2011/index.php/news/27148-how-bankole-nafada-obtained-loan-by-efcc.html

What banks gave them this loans? Authorized and signed off by who? If I was the president, since these loans did not follow due process, I will veto any bills containing this nonsense, What rubbish! If they know how they took out the loan, they should go and settle it, this will not be settled using federal purse, this is the time we need a tough person in the pilot seat.

manny4life:

What banks gave them this loans? Authorized and signed off by who? If I was the president, since these loans did not follow due process, I will veto any bills containing this nonsense, What rubbish! If they know how they took out the loan, they should go and settle it, this will not be settled using federal purse, this is the time we need a tough person in the pilot seat.

The above is precisely what has happened, the GEJ has jettisoned the bill and washed FG hands off it, so the House of Rep has to find means to pay it from wherever it can. In many ways, its a good thing, because they will likely end up bankrupt and Nigerians will be able to dictate away their huge salaries for doing zilch.