Date Published: 01/07/10

PSYCHO-LOOTING OF CECILIA IBRU By TERSOO DZEVER

The effects of banks lending to related parties (owners, directors, etc.) are of considerable policy relevance proponent of ‘related’ lending have viewed it as an “engine of economic development”, because it is quite common in developing economies and can mitigate informational asymmetries between banks and their borrowers.

Critics have claimed instead that related lending is a vehicle for bank directors to divert resources from outside investors, borrowers and depositors for there personal use.

It is base on the above premise that I strongly believe the economic and financial crimes commission EFCC intervention in the recovery of the bad loans given out by these former bank MDs was in the interest of the innocent depositors and Nigeria in general.

Irrespective of the fact that the Establishment ACT empowers the commission,” shall be the coordinating agency for the enforcement of the provisions of –©the failed banks (RECOVERY OF DEBTS) and financial malpractices in Banks Act, as amended.

As an advocate for a corrupt free society, am in full support of the actions of Waziri in the recovery of our hard earned money from these criminals called Bank Directors, and prosecuting them. Nigerians are waiting to see these criminal behind bars just as Lagos big boy is chilling in kirikiri prisons. Whereas these lies in the hands of the judiciary, which is the last hope of the common man.  

However Mrs. Ibru believes so much in the “Oliver Goldsmith theory” who stated that, and I quote “laws grinds the poor, and the rich rule the law”. Unfortunately for her the woman at the helms of affairs is a woman that believes that the law is a respecter of no body irrespective of   how highly placed. But it is a pity that most Nigerians are ignorant of the degree of damage these criminal called Ibru has done to our economy and were busy saying it is a northern agenda.

Sentiments should not be attached to matters of national polity, but the fact must be eschewed so as to arrive at a logical conclusion..

And I strongly believe that’s Farida’s stand. This has further proven that the fight against corruption is borne out of genuine course to emancipate the suffering citizenry from the hands of the greedy corrupt few, who have succeeded in forming a cartel to enslave the masses.

 By looting our hard earned naira to enrich themselves and their acolytes. The pain this woman Cecilia has caused to families affected directly or indirectly is beyond measure. Not to talk of the huge number of people she has sent to early grave by her criminal and inhuman behavior.

 Imagine taking money from the bank to build the bank headquarters in her name and in return lease it back to the bank at crazy rate. This is madness, is Ibru family the owners of Oceanic bank, these are public quoted company for God’s sake.

 why don’t we see reasons for once that these EFCC is the only way through which the vision 2020 can be realized if we all give them our support when ever the needs arises, corruption is a collective war and the issue of ethnicity should not be allowed to come in to play.

Its really a psycho-looting how can any body in his right senses a bank MD in possession of one million pounds sterling, even the Queen of England can not have that kind of money. And in return this woman will come back cook there books to reflect profit that is never there to deceive the innocent depositors.

Using depositor’s money to buy properties in choices of cities in USA , Dubai disguising under her children names, their wives and housemaids is criminal. Here are a few properties to mention: Cloudy heights, Enifor, Priskygold, Bliss boss, Velvox and circular global. These are some of the companies she used in laundering depositor’s money overseas, and in buying shares.

Conclusively, with all these the Urhobo nation can now see why the arrest of their wife is not an issue of Northern agenda or a way of witch hunting but an issue of facts beyond questionable doubt                                                   

 TERSOO DZEVER A PUBLIC AFFAIRS ANALYST WRITES FROM JOS