I Didn't Frustrate Recovery Of N300bn From 13 Banks - AGF
Mon May 09, 2016 11:14:am National
2.1K By sosa hills
The Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN) has told President Muhammadu Buhari that he did not frustrate the recovery of N300 billion from 13 banks as alleged by one George Uboh.
In his explanation to the President on the role he played on the recovery of some alleged funds stashed by individuals in the banks and some Ministries, Departments and Agencies (MDAs), Malami described as false the claims by Dr. Uboh that he deliberately frustrated him in his effort to recover the over N300 billion his company, Panic Alert Security Systems (PASS) traced to some Nigerian banks.
Malami in the letter he wrote to Buhari through the office of the Chief of Staff, Alhaji Abba Kyari, on April 4, 2016 with Reference Number HAGF/SH/2016/Vol.1/20 insisted that there was no truth in Uboh's claims, adding that he reversed the pact entered with PASS be-cause it was being abused.
In a press release by his spokesman, Mr. Salihu Othman Isah on Sunday, the AGF declared that it was also not true that he made an unholy alliance with the banking sec-tor mafia not to cooperate with PASS, and/or that he promised Access Bank that he would call Uboh to soft pedal on the bank. Malami said: "I must state that the above allegations are untrue, incorrect, false, a figment of the imagination of the author and a smear campaign by Dr. Uboh to tarnish my name. I did not make, never made and will never make any alliance with anyone in and outside of the banking industry to frustrate PASS or any firm from recovering any FGN's funds stashed/trapped in the listed banks or any bank or company in Nigeria or elsewhere.
"He continued: "In demonstration of my firm commitment to the recovery efforts of the FGN, I gave PASS a letter titled: TO WHOM IT MAY CONCERN dated 17th February, 2016, introducing PASS to the aforesaid banks/financial institutions. "The aforesaid Letter of Engagement dated 9th February, 2016 and the subsequent Letter of Introduction dated 17th February, 2016 ("HAGF Letters") were given to PASS on the firm understanding that PASS had already identified and/or traced specific FGN funds stashed/trapped in the aforementioned banks and that PASS would promptly embark on processes that would lead to actual recovery and remittance of the traced funds into the designated accounts of the FGN in line with the proposals submitted, presentations made and the terms contained in its letter of 9th February, 2016."
In his explanation to the President on the role he played on the recovery of some alleged funds stashed by individuals in the banks and some Ministries, Departments and Agencies (MDAs), Malami described as false the claims by Dr. Uboh that he deliberately frustrated him in his effort to recover the over N300 billion his company, Panic Alert Security Systems (PASS) traced to some Nigerian banks.
Malami in the letter he wrote to Buhari through the office of the Chief of Staff, Alhaji Abba Kyari, on April 4, 2016 with Reference Number HAGF/SH/2016/Vol.1/20 insisted that there was no truth in Uboh's claims, adding that he reversed the pact entered with PASS be-cause it was being abused.
In a press release by his spokesman, Mr. Salihu Othman Isah on Sunday, the AGF declared that it was also not true that he made an unholy alliance with the banking sec-tor mafia not to cooperate with PASS, and/or that he promised Access Bank that he would call Uboh to soft pedal on the bank. Malami said: "I must state that the above allegations are untrue, incorrect, false, a figment of the imagination of the author and a smear campaign by Dr. Uboh to tarnish my name. I did not make, never made and will never make any alliance with anyone in and outside of the banking industry to frustrate PASS or any firm from recovering any FGN's funds stashed/trapped in the listed banks or any bank or company in Nigeria or elsewhere.
"He continued: "In demonstration of my firm commitment to the recovery efforts of the FGN, I gave PASS a letter titled: TO WHOM IT MAY CONCERN dated 17th February, 2016, introducing PASS to the aforesaid banks/financial institutions. "The aforesaid Letter of Engagement dated 9th February, 2016 and the subsequent Letter of Introduction dated 17th February, 2016 ("HAGF Letters") were given to PASS on the firm understanding that PASS had already identified and/or traced specific FGN funds stashed/trapped in the aforementioned banks and that PASS would promptly embark on processes that would lead to actual recovery and remittance of the traced funds into the designated accounts of the FGN in line with the proposals submitted, presentations made and the terms contained in its letter of 9th February, 2016."
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