Date Published: 11/23/09

Bank debtors get two weeks to pay up

Farida Waziri

The Economic and Financial Crimes Commission, EFCC has given debtors of recently bailed out banks two weeks to pay up or face another round of action from the anti-graft agency.

The latest ultimatum is coming following reports from the affected banks that most of the debtors had reneged on their promise to pay up within a stipulated period.

According to the statement, “It is worrisome that those that made part payments with a promise to pay up within a certain period following the intervention of the EFCC, have failed on their own terms.

“It is therefore necessary to remind them that the recent withdrawal of the EFCC operatives from the affected banks should not be misconstrued or taken advantage of.

“Since our investigation of the criminal flavor of these loans is still on-going, we therefore wish to warn those that have reneged on the repayment terms not to be taken by surprise at the end of the latest two weeks grace when the Commission shall again move decisively against defaulters.

“It is our wish to round off our operations in the affected banks by the end of the year so that the banks can run smoothly without any further interference from next year.

“As such, it is imperative that all concerned should make haste to fulfill their promises to enable the Commission concentrate fully on the prosecution of those already found culpable.”