Debtors face EFCC today

Written by Duncan Monday, 19 October 2009

Fifty-five of the over 600 debtors owing five banks- Bank PHB, Spring Bank, Equitorial Trust Bank (ETB), Unity Bank and Wema Bank are to appear before the Economic and Financial Crimes Commission (EFCC) today.

The debtors who are being invited in batches have been sent formal invitations and would report to the anti-corruption commission’s office in Lagos, Daily Trust learnt yesterday.

An EFCC official said eighty crack operatives who have been split into three teams are handling the recovery drive.

The official said, “Some of those we have invited are already getting in touch with us and have made commitment to pay.”

EFCC’s Spokesman Femi Babafemi confirmed some debtors have been invited but refused to mention names.

The Central Bank of Nigeria (CBN) released a list of debtors which featured prominent business men, corporate giants, politicians and technocrats on October 14 owing five banks.

On the list Bank PHB has the most non-performing loans with over N59billion, Wema Bank is owed N38billion, debtors owe ETB N35 billion, Spring Bank N22 billion and Unity Bank over N9billion.