Three Nigerian banks have been fingered in the multi-billion fraud allegedly perpetrated at the Nigerian Ports Authority, NPA.<\/p>\n
The banks, Heritage Bank Plc, First City Monument Bank Plc(FCMB) and First Bank Plc are said to be deeply involved in series of transactions suspected to be fraudulent and amounting to N11.23 billion.<\/p>\n
The fraud was reportedly uncovered by the new NPA management led by Hadiza Bala Usman.<\/p>\n
Of the amount, $24.1 million (N7.47 billion at N310 per dollar) was traced to Heritage Bank, the successor bank to the defunct Societe Generale Bank owned by the Saraki family.<\/p>\n
The funds, according to those familiar with the deals, were collected by the bank as revenue for NPA, but which Heritage Bank, in collusion with some officials of NPA failed to move it into NPA\u2019s Treasury Single Account with the Central Bank of Nigeria.<\/p>\n
The former management of the agency, it was learnt, failed to disclose the funds in the handover note passed to the Ms. Bala Usman-led team.<\/p>\n
Another six million Euros (N2.09 billion at N348 to a dollar) were found concealed in both First Bank of Nigeria and First City Monument Bank.<\/p>\n
Yet another $5.4million (N1.67billion at N310 to a dollar) belonging to the NPA was moved to TSA accounts in the CBN different from those belonging to the maritime agency, insiders say.<\/p>\n
Inside sources said that the new management has already contacted Hthe affected banks directing them to release the agency\u2019s funds in their custody, but curiously, Heritage Bank\u2019s officials reportedly claimed that releasing the funds might lead to the collapse of their bank.<\/p>\n
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