Senate Indicts Buhari’s Minister, Stanbic IBTC, Diamond Bank Over MTN Illicit Activities
The Senate on Tuesday directed its Committee on Banking, Insurance and Other Financial Institutions to investigate the alleged illegal repatriation of $13.9 billion by MTN through its bankers between 2006 and 2016 to its home country, South Africa.
Indicted by the Senate were a Minister in the cabinet of President Muhammad Buhari, Dr. Okechukwu Elenemah and the four banks alleged to have aided the alleged illegal repatriation of the money.
Senator Dino Melaye, who raised the motion, said the illegal repatriation was allegedly facilitated by the Minister of Trade and Investment, Dr. Okechukwu Elenemah.
The banks allegedly involved are said to be Stanbic IBTC, Standard Chartered Bank, Citi Bank and Diamond Bank.
Melaye had earlier revealed that the frontline communication company in Nigeria, had been involved in gross money laundering.