Connect with us


N41 billion fraud: Senator Akinyelure dares UBA, says threat can’t stop probe



Spread the love

N41bn fraud: Senator Akinyelure dares UBA, says threat can’t stop probe

The Chairman of Senate Committee on Ethics, Privileges and Public Petitions, Senator Ayo Akinyelure has insisted that his Committee would probe the United Bank for Africa (UBA) over N41 billion it withdrew without authorisation from accounts of Nigerian Telecommunications Limited ( NTEL) and Mobile Telecommunications Limited ( MTEL).

Akinyelure had last week, alleged that UBA based on petitions before his committee, withdrew N41billion out of N42billion liquidators of NITEL and MTEL deposited in the bank without any authorisation from the liquidators .

He on the strength of the petition, summoned the Group Managing Director of UBA , Kennedy Uzoka to appear before his committee on Wednesday, August 5, 2020 for explanation on the alleged fraud .

Read Also:  Protest rocks NASS over NDDC probe

But the UBA management led by its Chairman, Tony Elumelu, threatened Akinyelure with litigation if he fails to withdraw his allegations against the Bank within seven days.

Elumelu in the threat widely reported in the media two days ago said the Bank will not honour the Committee’s invitation since the issues at stake are already subject of litigation in the court of law.

In his reaction to the threat on Wednesday, Akinyelure vowed not to make any retraction of his statement against the bank last week or tender any apology.

Read Also:  Biden’s son, Hunter, faces tax probe

In a statement signed by his Special Adviser on Media, Charles Akinwon, Akinyelure said the threat from UBA, will not stop his committee from forging ahead with the planned probe.

He said neither apology nor retraction, would be made by him as written petitions alleging UBA to have committed the N41billion fraud are in the possession of his committee.

The statement reads in part : “It has become necessary to let Nigerians know that the threat of UBA Chairman, Tony Elumelu, against Distinguished Senator Ayo Akinyelure cannot debar the lawmaker, who is the Senate Committee Chairman on Ethics, Privileges and Public Petitions from carrying out his legislative duties.

“In as much as the Distinguished Senator appreciates those that had called since the news of Elumelu threat was made public in some dailies, he has assured the people of his Constituency in particular and Nigerians in general that he is not perturbed and will not because of a mere threat to jettison the oath of office he had sworn to.

Read Also:  Breaking: Procurement of 2 expired helicopters: Buhari orders EFCC to probe Airforce officers, others

“Akinyelure, who is a Chartered Accountant of over thirty years in practice, has always been on the side of truth and Justice and that was why the Senate President, Dr Lawan, found him worthy to reappoint him as the ombudsman of the Senate and voice of the voiceless Nigerians”.


Contact Us:

  • Address: Address: 1st Floor,  Nwakpabi Plaza,  Suite 110, Waziri Ibrahim Crescent, Apo,  Abuja
  • Tel: +234 7036084449, +234 8066722600, +234 7012711701
  • Email:
  • Email:

Quick Links: