GoldenNewsNG
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
No Result
View All Result
Golden News
No Result
View All Result

Breaking : Keystone Bank revealed how AGF Malami  forced them convert $40 million recovered from Loot

Enudi Golden by Enudi Golden
January 11, 2024
in Crime, Featured, Headline, Politics
Reading Time: 2 mins read
Breaking : Keystone Bank revealed how AGF Malami forced them convert $40 million recovered from Loot
11
SHARES
Advertisements

Keystone Bank revealed how AGF Malami  forced them convert $40 million recovered from Loot

 

GoldenNewsNg gathered that Attorney-General of the Federation, Abubakar Malami, issued a directive that a part of the $136 million belonging to the Nigeria National Petroleum Corporation (NNPC) should be paid in naira equivalent, Keystone Bank has said.

READ ALSO

Court orders prosecution of auxiliary nurse linked to Mohbad’s death

NELFUND Begins Disbursement of Upkeep Payments to Students with Updated Bank Accounts

The bank made this revelation during a hearing of the Ad-hoc Committee on Assessment and Status of all recovered loots, Movable and Immovable Assets, covering loots and assets from 2002 to 2020 by agencies of the federal government.

Mr Malami, who had established that a total of $136,676,600.51 was to be paid to NNPC, directed that 96 million be paid in dollars, while 40 million should be paid in naira.

“Out of this entire amount, we paid $96 million in United States dollars and we paid the equivalent of $40 million in naira,” according to Lawal Ahmed.

Mr Ahmed, who is the Executive Director, North and Public Sector Directorate, Keystone Bank, also said that Mr Malami recommended the exchange rate at N305 to a dollar.

“That was the directive by the Attorney-General at the rate of N305 to a dollar,” Mr Ahmed noted, although it is unclear when the transactions were carried out.

When the chairman of the committee, Adejoro Adeogun, queried why funds meant for Brass LNG Investment account was remitted in a different account, Mr Ahmed stated that the bank had remitted all funds belonging to the NNPC.

“We were paying into the Brass LNG’s NNPC account in the TSA and at the time the Attorney-General gave the directive, he instructed that the funds be credited to the FGN Assets Recovery Account,” the bank official said.

Mr Adeogun, while presenting a document to Mr Ahmed, explained that the figures in the transactions differ from the one obtained from the Central Bank of Nigeria.

However, the bank representative argued that “The first item, which is N12,421,794,504.88 is the equivalent of $40m at N305, which was directed to the FGN Assets Recovery Account.

“There were two accounts: Brass LNG and OML 40. At the time this (AGF) letter was written, I believe that we had not concluded payment yet. The final payments were made thereafter in tranches,” Mr Ahmed added.

Reacting, a member of the committee, Olanrewaju Edun, criticised Mr Malami for issuing such directives, suggesting that the AGF be subjected to questioning.

“Out of the $40m that you claimed, the Attorney-General gave you a letter. As far as I am concerned, I don’t know why you have to take a letter from the Attorney-General.

“This is Nigeria’s money owned by the three tiers of government. We can take you up on that.

“Mr Chairman, I believe that my constituency has been robbed of money. Yes. And we need to contest that letter.

“I don’t know why the Attorney-General had to issue a letter that something that was transacted in dollars should be paid in naira rate when you have differential rates in Nigeria,” he added.

📢 JOIN OUR WHATSAPP GROUP 📢 JOIN OUR TELEGRAM CHANNEL
Previous Post

Super Eagles defeat Liberia 2-0 again in Qatar World Cup qualifier

Next Post

FG Gives Important Update On Increment Of Npower Beneficiaries To 5M 

Related Posts

Court orders prosecution of auxiliary nurse linked to Mohbad’s death

Court orders prosecution of auxiliary nurse linked to Mohbad’s death

Court orders prosecution of auxiliary nurse linked to Mohbad’s death The Coroner’s Court sitting in Ikorodu, Lagos State, has directed...

Read moreDetails

NELFUND Begins Disbursement of Upkeep Payments to Students with Updated Bank Accounts

NELFUND Begins Disbursement of Upkeep Payments to Students with Updated Bank Accounts

The Nigerian Education Loan Fund (NELFUND) has commenced the disbursement of upkeep allowances to students who have updated their bank...

Read moreDetails

FIRS to Launch Mandatory e-Invoicing System for Businesses with ₦5 Billion Turnover and Above

FIRS to Launch Mandatory e-Invoicing System for Businesses with ₦5 Billion Turnover and Above

The Federal Inland Revenue Service (FIRS) has announced that it will begin full implementation of the National Electronic Invoicing (e-Invoicing)...

Read moreDetails

Green Money Project 2025: How to Apply for FG Youth Agriculture Empowerment Programme

Green Money Projec

Are you a young Nigerian passionate about agriculture or looking to grow a business in agribusiness? The Federal Government has...

Read moreDetails

FG Orders Banks to Flag Accounts with Monthly Transactions Over ₦5 Million

FG Orders Banks to Flag Accounts with Monthly Transactions Over ₦5 Million

Federal Government has ordered all Nigerian banks to Flag Accounts with Monthly Transactions Over ₦5 million GoldenNewsNg reports that Nigerian...

Read moreDetails

JAMB Awards ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices

JAMB Awards ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices

JAMB has Awarded ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices GoldenNewsNg reports that the Joint Admissions and...

Read moreDetails

JAMB Cut Off Mark for Civil Engineering 2025/2026 in Nigerian Universities

JAMB Cut Off Mark for Civil Engineering

JAMB Cut Off Mark for Civil Engineering 2025/2026 in Nigerian Universities    If you’re planning to study Civil Engineering in...

Read moreDetails

NELFUND Begins Disbursement of Funds to Students in Saapade, MAPOLY, and LASUED

NELFUND Begins Disbursement of Upkeep Payments to Students with Updated Bank Accounts

NELFUND Begins Disbursement of Funds to Students in Saapade, MAPOLY, and LASUED GoldenNewsNg reports that the Federal Government has announced...

Read moreDetails

Official JAMB Cut Off Mark for Medicine and Surgery 2025/2026 In Nigerian Universities

Official JAMB Cut Off Mark for Medicine and Surgery 2025/2026 In Nigerian Universities

Official JAMB Cut Off mark for Medicine and Surgery 2025/2026   If you’re planning to study Medicine and Surgery in...

Read moreDetails

Official JAMB Cut Off Mark For Computer Science 2025/2026: Requirements And Admission Tips

JAMB Cut Off Mark For Computer Science

JAMB Cut Off Mark For Computer Science 2025: Requirements And Admission Tips   Are you aiming to study Computer Science...

Read moreDetails
Load More
Next Post
NPower News Today 1st September 2022 | NASIMS News Update | NEXIT News

FG Gives Important Update On Increment Of Npower Beneficiaries To 5M 

SEARCH ADS

Latest Posts

Court orders prosecution of auxiliary nurse linked to Mohbad’s death
Crime

Court orders prosecution of auxiliary nurse linked to Mohbad’s death

NELFUND Begins Disbursement of Upkeep Payments to Students with Updated Bank Accounts
Education

NELFUND Begins Disbursement of Upkeep Payments to Students with Updated Bank Accounts

FIRS to Launch Mandatory e-Invoicing System for Businesses with ₦5 Billion Turnover and Above
business

FIRS to Launch Mandatory e-Invoicing System for Businesses with ₦5 Billion Turnover and Above

Green Money Projec
Headline

Green Money Project 2025: How to Apply for FG Youth Agriculture Empowerment Programme

FG Orders Banks to Flag Accounts with Monthly Transactions Over ₦5 Million
business

FG Orders Banks to Flag Accounts with Monthly Transactions Over ₦5 Million

JAMB Awards ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices
Education

JAMB Awards ₦710 Million to Six Tertiary Institutions for Outstanding Admission Practices

JAMB Cut Off Mark for Civil Engineering
Education

JAMB Cut Off Mark for Civil Engineering 2025/2026 in Nigerian Universities

NELFUND Begins Disbursement of Upkeep Payments to Students with Updated Bank Accounts
Education

NELFUND Begins Disbursement of Funds to Students in Saapade, MAPOLY, and LASUED

Official JAMB Cut Off Mark for Medicine and Surgery 2025/2026 In Nigerian Universities
Education

Official JAMB Cut Off Mark for Medicine and Surgery 2025/2026 In Nigerian Universities

JAMB Cut Off Mark For Computer Science
Daily Guides

Official JAMB Cut Off Mark For Computer Science 2025/2026: Requirements And Admission Tips

© 2024 Golden News

  • About Us
  • Advertise with Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms And Conditions
No Result
View All Result
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us

© 2024 Golden News