Why Police Could Not Prosecute Zenith Bank

Posted on by Seyi Oduyela
Jim Ovia a close friend of President Jonathan Goodluck

Jim Ovia a close friend of President Jonathan Goodluck

Why Police Could Not Prosecute Zenith Bank

By Seyi Oduyela

A Police source disclose to Africa Inquirer that attempts to prosecute Zenith Bank for all the financial crimes was blocked by former president Jonathan Goodluck. Our source disclosed that Zenith Bank more than any bank in Nigeria aided politicians to launder money out of Nigeria.

Our source cited the case of money laundering and looting of Rivers State treasury by Dr. Peter Odili when he ruled the state for 8 years. According to EFCC findings, total of about N89billion was fleeced from the state treasury. Of the amount, about N73billion is in local currency while a whooping N16billion in (current forex rate) equivalent was conveniently carted away in US Dollars, Euros and Pound Sterling. The breakdown further revealed that about 129million is in Dollars, one million in Euro and the balance 2Million in Pounds. All these were done through Zenith Bank.

A police source at the Special Fraud Unit at Ikoyi, disclosed too that Zenith Bank under Godwin Emefile refused to turn in the employees who stole N300 Million from NECO Account and that’s why the case is still open.

Africa Inquirer findings show that the very cordial relationship between former President Jonathan and Mr. Jim Ovia created the protection for Zenith from the law which makes the Bank appear untouchable and lawless. Our source mentioned the investigation of the loan granted to Dr, Bukola Saraki without collateral which is against bank regulations. Though it has not been confirmed, a source in the former regime, disclosed that Jim Ovia may have been a front for former President Jonathan. Our source supported this theory with the appointment of Godwin Emefiele as Central Bank Governor by Jonathan to compensate his friend Jim Ovia.

Africa Inquirer investigation continues on how Zenith Banks has broken bank regulation rules and Godwin Emefiele’s involvement in the so-called BVN scheme.

 

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