We’ve recovered N40m hidden in bank by govt's agencies- Presidential panel

The Special Presidential Investigation Panel for the Recovery of Public Property said it has recovered over N40million for the Federal Government from an unnamed commercial bank in the country.The panel’s spokesperson, Lucie-Ann Member Laha said, in a statement, that the new recovery was different from the $20 million earlier recovered by the panel.

“The investigation panel has earlier assigned a team of forensic auditors with the task of x-raying the operations of Federal Government accounts domiciled in commercial banks within that period, with a view to establishing whether or not such accounts had been subjected to arbitrary or excessive charges, interest shortfalls, accrued interests or other illegal dealings.

“The money has since been paid into the Panel’s TSA Recovery Account domiciled with the Central Bank of Nigeria .

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Source: Daily Trust - 🏆 13. / 51 Read more »