The picture one naturally has of Mallam Sanusi Lamido, the current Central
\nBank Governor is that he is pious spotless and saintly. One always thinks
\nthat he does not live in a glass house so he is capable of throwing stones
\nfearlessly without looking behind.<\/p>\n
It has however been revealed that Holy Mallam Sanusi has fingers several
\nunholy pies. One of such is his deal with the retired Managing Director of
\nAccess Bank Plc, Aig Imo
\nsuede.<\/p>\n
The story from highly placed authentic sources within the CBN who have
\nsquealed recently is that at the time Access Bank made a bid to purchase
\nthe insolvent Intercontinental Bank under Sanusi\u2019s bank reconstruction
\nschemes the then M.D. of Access Bank, Aig Imokhuede was one of the largest
\ndebtors on the books of the bank.<\/p>\n
In a nutshell Imokhuede owed Intercontinental Bank sums running into
\nbillions of Naira for loans he took from the bank to buy intercontinental
\nshares in the good old days of margin lending.<\/p>\n
The highly placed source ‘within the CBN also revealed that Erastus
\nAkingbola, the then CEO of Intercontinental bank also took a similar loan
\nfrom Access bank approved by Imokhhuede, to enable Akkingbola purchase
\nAccess bank shares. It was not unusual for MD’s of banks to do such loan
\nexchanges in those inglorious days of margin lending.<\/p>\n
Open chapter two: according to the source, in the course of reviewing
\nAccess bank’s bid for intercontinental bank, it was discovered that
\nImokhuede was one of the largest debtors on the books of the bank and a
\ncorporate governance issues were raised: Can IMOKHUEDE make a bid to
\npurchase a bank where he is one of the highest debtors? Should he not be
\nmade to pay the debt before Access bank can be prequalified to make a bid
\nfor intercontinental bank?<\/p>\n
Our sources within the CBN revealed that SLS was having none of this
\ncorporate governance argument. He suddenly was no longer \u201cMr. Governance”.
\nWould you believe that our Holy Mallam would suddenly change the colour
\nof his skin and uncharacteristically become one who would jettison rules
\nof corporate governance and propriety? Why would he do so? No not Sanusi.
\nIt would seem that Sanusi is also a business man and a pretentious
\nprofiteer clothed in the Marxist grabs. He too cannot resist sweet deals
\nthat may come with the clear danger sign. Sanusi not only went blind, deaf
\nand dumb to the corporate governance issues, he went a step further to
\nhandle the deal personally and close it hurriedly ad surreptitiously in
\nfavour of Imokhuede.<\/p>\n
In simple terms Access bank led by Imokhuede purchased intercontinental
\nbank whilst he was one of the highest debtors of the bank. The open secret
\nis that Sanusi in confederation for approving this deal that allowed a
\ndebtor buy a .creditor without paying his loan has become a shareholder in
\nAccess bank.<\/p>\n
Sanusi’s favour to Imokhuede has been converted to a share of the
\npie-equity in the deal.<\/p>\n
Some may say this is all conjecture. If indeed this is so, then Sanusi
\nshould show proof that at the time Intercontinental bank was purchased by
\nAccess bank, Aig Imokhuede was not owing the bank. Sanusi should also show
\nproof that the billions owed by Imokhuede has been paid as at today.<\/p>\n
He should also show proof that this transaction was well above board and
\nno shady share exchanges in his favour.<\/p>\n
By Ahmed Mohammed<\/p>\n","protected":false},"excerpt":{"rendered":"
The picture one naturally has of Mallam Sanusi Lamido, the current Central Bank Governor is that he is pious spotless and saintly. One always thinks that he does not live…<\/p>\n","protected":false},"author":1,"featured_media":3563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[7],"tags":[],"class_list":["post-23199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles-opinions"],"yoast_head":"\n