July 6, 2008
THE last may not have been heard of the reckless Boardroom manipulations that crippled the once beloved Societe Generale Bank of Nigeria (SGBN) as exclusive details of the charges to be preferred against some of its directors by operatives of the Economic and Financial Crimes Commission (EFCC) under the leadership of the Former Chairman, Mallam Nuhu Ribadu, an Assistant Inspector General of Police (AIG), at the time of collapse obtained exposed a can of worms in the board management of the bank.
Sources within the anti-corruption agency disclosed that specifically, the chairman, Council of Elders Northern Union, Dr. Olusola Saraki who is also father of the Kwara State Governor, Dr. Bukola Saraki and other directors of the crippled bank had been investigated and were due to be arraigned on a 30-count charge before high-power politics and maneuver swept off Ribadu and his team at the EFCC who had sworn to ensure that persons who played any role(s) in the alleged looting of the bank are brought to book.
As the July 31, 2008, deadline of a two-month extension granted to the embattled SGBN by the country's apex bank, the Central Bank of Nigeria (CBN) to enable it tidy its merger arrangements, draws near, it is apparent the submerged charge sheet which is key to the roots of the bank's troubles is very much relevant.
The suit, had it proceeded, would have held at the Lagos, Federal High Court, and would have been between the Federal Republic of Nigeria and Dr. Olusola Saraki, joined with nine others to wit :- Robert Mbonu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup as accused persons.
National Daily gathered that Ribadu intended to prosecute Bukola Saraki but could not because he enjoys the immunity clause bestowed on serving governors by the constitution of the country. The trial of Bukola's father and his accomplice would however had commenced pending the expiration of the son's tenure as governor but for the tenacity of Bukola Saraki who as a member of President Umaru Musa Yar'Adua's kitchen cabinet worked round the clock to ensure that the suit got thwarted and Ribadu disgraced. Bukola was also identified as the man behind the ouster of Ibrahim Larmode
Documents made available to National Daily revealed eight of the 30-count charge were directed at Dr. Olusola Saraki alone, and three solely for the defunct bank's MD Monu. The charges hinged mainly on transactions without collaterals spanning periods from 1999 to 2003 include that Dr. Olusola Saraki while being Director of SGBN Plc between 2002 and 2003 at Lagos the Lagos Judicial Division of the Federal High Court and having personal interest in the grant of a loan facility accounting to N210,000,000.00 (Two Hundred and Ten Million Naira) granted by the Societe Generale Bank Nigeria Plc to Peoples Democratic Party (PDP), Kwara State Chapter and failed in his duty to declare the nature of his interest in PDP and the loan to the Board of Directors of Societe Generale Bank Nigeria Plc and thereby committed an offence punishable under Section 18(11) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Robert Monu while being a Managing Director of Societe Generale Bank Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court granted an unsecured loan amounting to N210,000,000.00 (Two Hundred and Ten Million Naira) to Peoples Democratic Party (PDP), Kwara State Chapter in contravention of the bank's rules and regulations governing same and thereby committed an offence punishable under Section 18(2) of Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki while being a Director of General Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly approved the grant of loan in the sum of N210,000,000.00 (Two Hundred and Ten Million Naira) to the Peoples Democratic Party (PDP), Kwara State Chapter with no collateral in contravention of the bank's regulation and thereby committed an offence punishable under section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki while being a Director of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N210,000,000.00 (Two Hundred and Ten Million Naira) to the Peoples Democratic Party (PDP), Kwara State Chapter with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16 (1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004
That Dr. Olushola Saraki while been a Director of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court negligently connected with approval of a loan in the sum of N210,000,000.00 (Two Hundred and Ten Million Naira) to the Peoples Democratic Party (PDP), Kwara State Chapter with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16 (1)(a) of the Failed Bank (Recovery o f Debts) and Financial Malpractices in Bank Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki while being a Director of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court and having personal interest in the grant of a loan facility amounting to N40,000,000.00 (Forty Million Naira) grated by the Societe Generale Bank Nigeria Plc to Peoples Democratic Party (PDP), Kwara State Chapter and failed in his duty to declare the nature of his interest to the Board of Directors of the said Societe Generale Bank Nigeria Plc and you thereby committed an offence punishable under Section 18(11) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki while being a Director of Societe General Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court negligently connected with the approval of a loan in the sum of N40,000,000.00 (Forty Million Naira) to the Peoples Democratic Party (PDP), Kwara State Chapter with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Robert Mobonu while being a Managing Director of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal high Court granted an unsecured loan amounting to N40,000,000.00 (Forty Million Naira) to Peoples Democratic Party (PDP), Kwara State Chapter in the contravention of the bank's rules and regulations governing the same and you thereby committed an offence punishable under Section 18(2) of Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki of Cameroon Road, Ikoyi, Lagos between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court did Transfer funds totaling $35,000,000.00 (Thirty Five Million US Dollars) from London to Nigeria without reporting the said transfer to the Central Bank of and thereby committed an offence punishable under Section 15(2) (a) of the Money Laundering Act, Cap. M18 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court failed to take all reasonable steps to ensure that proper books of account are kept for the bank and thereby committed an offence punishable under section 24(5) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about July 22nd 2003 at Lagos in the Lagos Judicial Division of the Federal High Court did not take all reasonable steps to secure the correctness of the management account submitted by the bank to the Central Bank of Nigeria and thereby committed an offence punishable under section 50(b) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 7th April, 2003 at Lagos in the Lagos Judicial Division of the Federal High Court without prior written approval of the Central Bank of Nigeria permitted to be outstanding, an unsecured loan of an aggregate amount in excess of N50,000,000.00 to wit: the sum of N25,000,000.00 (Twenty five Million Naira) to T. A. N. Salami, a Director of Societe Generale Bank Nigeria Plc and thereby committed an offence punishable under Section 20(7) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc about 30th July, 1999 at Lagos in the Lagos Judicial Division of the Federal High Court without the prior written approval of the Central Bank of Nigeria permitted to be outstanding an unsecured loan of an aggregate amount in excess of N50,000.00 to Wit: the sum of N16,400,000.00 (Sixteen Million, Four Hundred Thousand Naira) to Iluyomade J. B. an officer of Societe Generale Bank Nigeria Plc and thereby committed an offence punishable under Section 20(7) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004. That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about August, 1999 at Lagos in the Lagos Judicial Division of the Federal High Court without the prior written approval of the Central Bank of Nigeria permitted to be outstanding an unsecured loan of an aggregate amount in excess of N50,000.00 to wit: the sum of N6,611,11.12 (Six Million, Six Hundred and Eleven Thousand, One Hundred and Eleven Naira, Twelve Kobo) to Oyenuga P. A. an officer of Societe Generale Bank Nigeria Plc and thereby committed an offence punishable under Section 20 (7) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki while being a Director of Societe Generale Bank Nigeria Plc on or about 31st December, 1999 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N52,080,342.27 (Fifty Two Million, Eighty Thousand, Three Hundred and Forty Two Thousand, Twenty Seven Kobo) to one Arovuelen Mercy with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery Debts) and Financial malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc about 28th June, 2000 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N6,227,603.74 (Six Million two Hundred and Twenty Seven Thousand, Six Hundred and Three Naira, Seventy Four Kobo) to TEKISVIC Service Limited with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 18th March, 2003 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N160,516,339.90 (One Hundred and Sixty Million, Five Hundred and Sixteen Thousand, Three Hundred and Thirty Nine Naira, Ninety Kobo) to Reynolds Construction (H/O) with no security in contravention f the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Bank Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 8th March, 2003 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N13,997,769.32 (Thirteen Million, Nine Hundred and Ninety Seven Thousand, Seven Hundred and Sixty Nine Naira, Thirty Two Kobo) to Ankh Nigeria Limited. With no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 26th July, 2000 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N5,031,162.59 (Five Million, Thirty-One Thousand, One Hundred and Sixty Two Naira, Fifty Nine Kobo) to Al-Makura Nigeria Limited with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 9th august, 2000 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N5,025,111.15 (Five Million, Twenty Five Thousand, One Hundred and Eleven Naira, Fifteen Kobo) to Selratic Ventures with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 12th May, 2000 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N88,162,144.02 (Eighty Eight Million and Sixty Two Thousand, One Hundred and Forty For Naira, Two Kobo) to DTM with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and financial malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 31st July 2000 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N 7,867,043.77 (Seven Million, Eight Hundred and Sixty Seven Thousand , forty Three naira, Seventy Seven Kobo) to National Assembly Senator with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Bank Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 1st August, 2000 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N46,039,341.32 (Forty Six Million, Thirty Nine Thousand, Three Hundred and Forty One naira, Thirty Kobo) to Subtle Limited with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial malpractices in Banks Act Cap F2 of the Federation of Nigeria, 2004
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 4th May, 2000 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N27,924,114.43 (Twenty Seven Million, Nine Hundred and Twenty Four Thousand, One Hundred and Fourteen Naira, Forty Three Kobo) to Inter Allied Resources with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nig. Plc on or about 12th November, 2002 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N13,247,928.81 (Thirteen Million, Two Hundred and Forty Seven Thousand, Nine Hundred and Twenty Eight Naira, Eighty One Kobo) to ED. And F. Man. Nigeria Limited with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts ) and Financial Malpractices in banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 18th August, 1999 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N6,407,254.00 (Six Million, Four Hundred and Seven Thousand, Two Hundred and Fifty Four Naira) to Oludeyi S. O. with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004
That Robert Mbonu while being an officer of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court made a donation in the sum of N1, 000,000.00 (One Million Naira) to Governor Attah of Akwa Ibom State for political purposes and thereby committed an offence punishable under Section 38(2) of the Companies And Allied Matters Act Cap C20 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki while being an officer of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court did vote for a donation in the sum of N1, 000,000.00 (One Million Naira) to Governor Attah of Akwa Ibom State for political purposes and thereby committed an offence punishable under Section 38(2) of the Companies And Allied Matters Act Cap C20 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki and Robert Mbonu, while being officers of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court did vote for a donation in the sum of N1, 000,000.00 (One Million naira) to Chief Audu Ogbe for political purposes and thereby committed an offence punishable under Section 38(2) of the Companies And Allied Matters Act Cap C20 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki and Robert Mobu, while being officers of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court did vote for a donation in the sum of N25, 000,000.00 (Twenty Five Million Naira) to Dr. Bukola Saraki for political purposes and thereby committed an offence punishable under Section 38(2) of the Companies And Allied Matters Act Cap C20 Laws of the Federation of Nigeria, 2004.
Sources within the anti-corruption agency disclosed that specifically, the chairman, Council of Elders Northern Union, Dr. Olusola Saraki who is also father of the Kwara State Governor, Dr. Bukola Saraki and other directors of the crippled bank had been investigated and were due to be arraigned on a 30-count charge before high-power politics and maneuver swept off Ribadu and his team at the EFCC who had sworn to ensure that persons who played any role(s) in the alleged looting of the bank are brought to book.
As the July 31, 2008, deadline of a two-month extension granted to the embattled SGBN by the country's apex bank, the Central Bank of Nigeria (CBN) to enable it tidy its merger arrangements, draws near, it is apparent the submerged charge sheet which is key to the roots of the bank's troubles is very much relevant.
The suit, had it proceeded, would have held at the Lagos, Federal High Court, and would have been between the Federal Republic of Nigeria and Dr. Olusola Saraki, joined with nine others to wit :- Robert Mbonu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup as accused persons.
National Daily gathered that Ribadu intended to prosecute Bukola Saraki but could not because he enjoys the immunity clause bestowed on serving governors by the constitution of the country. The trial of Bukola's father and his accomplice would however had commenced pending the expiration of the son's tenure as governor but for the tenacity of Bukola Saraki who as a member of President Umaru Musa Yar'Adua's kitchen cabinet worked round the clock to ensure that the suit got thwarted and Ribadu disgraced. Bukola was also identified as the man behind the ouster of Ibrahim Larmode
Documents made available to National Daily revealed eight of the 30-count charge were directed at Dr. Olusola Saraki alone, and three solely for the defunct bank's MD Monu. The charges hinged mainly on transactions without collaterals spanning periods from 1999 to 2003 include that Dr. Olusola Saraki while being Director of SGBN Plc between 2002 and 2003 at Lagos the Lagos Judicial Division of the Federal High Court and having personal interest in the grant of a loan facility accounting to N210,000,000.00 (Two Hundred and Ten Million Naira) granted by the Societe Generale Bank Nigeria Plc to Peoples Democratic Party (PDP), Kwara State Chapter and failed in his duty to declare the nature of his interest in PDP and the loan to the Board of Directors of Societe Generale Bank Nigeria Plc and thereby committed an offence punishable under Section 18(11) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Robert Monu while being a Managing Director of Societe Generale Bank Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court granted an unsecured loan amounting to N210,000,000.00 (Two Hundred and Ten Million Naira) to Peoples Democratic Party (PDP), Kwara State Chapter in contravention of the bank's rules and regulations governing same and thereby committed an offence punishable under Section 18(2) of Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki while being a Director of General Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly approved the grant of loan in the sum of N210,000,000.00 (Two Hundred and Ten Million Naira) to the Peoples Democratic Party (PDP), Kwara State Chapter with no collateral in contravention of the bank's regulation and thereby committed an offence punishable under section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki while being a Director of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N210,000,000.00 (Two Hundred and Ten Million Naira) to the Peoples Democratic Party (PDP), Kwara State Chapter with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16 (1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004
That Dr. Olushola Saraki while been a Director of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court negligently connected with approval of a loan in the sum of N210,000,000.00 (Two Hundred and Ten Million Naira) to the Peoples Democratic Party (PDP), Kwara State Chapter with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16 (1)(a) of the Failed Bank (Recovery o f Debts) and Financial Malpractices in Bank Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki while being a Director of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court and having personal interest in the grant of a loan facility amounting to N40,000,000.00 (Forty Million Naira) grated by the Societe Generale Bank Nigeria Plc to Peoples Democratic Party (PDP), Kwara State Chapter and failed in his duty to declare the nature of his interest to the Board of Directors of the said Societe Generale Bank Nigeria Plc and you thereby committed an offence punishable under Section 18(11) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki while being a Director of Societe General Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court negligently connected with the approval of a loan in the sum of N40,000,000.00 (Forty Million Naira) to the Peoples Democratic Party (PDP), Kwara State Chapter with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Robert Mobonu while being a Managing Director of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal high Court granted an unsecured loan amounting to N40,000,000.00 (Forty Million Naira) to Peoples Democratic Party (PDP), Kwara State Chapter in the contravention of the bank's rules and regulations governing the same and you thereby committed an offence punishable under Section 18(2) of Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki of Cameroon Road, Ikoyi, Lagos between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court did Transfer funds totaling $35,000,000.00 (Thirty Five Million US Dollars) from London to Nigeria without reporting the said transfer to the Central Bank of and thereby committed an offence punishable under Section 15(2) (a) of the Money Laundering Act, Cap. M18 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court failed to take all reasonable steps to ensure that proper books of account are kept for the bank and thereby committed an offence punishable under section 24(5) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about July 22nd 2003 at Lagos in the Lagos Judicial Division of the Federal High Court did not take all reasonable steps to secure the correctness of the management account submitted by the bank to the Central Bank of Nigeria and thereby committed an offence punishable under section 50(b) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 7th April, 2003 at Lagos in the Lagos Judicial Division of the Federal High Court without prior written approval of the Central Bank of Nigeria permitted to be outstanding, an unsecured loan of an aggregate amount in excess of N50,000,000.00 to wit: the sum of N25,000,000.00 (Twenty five Million Naira) to T. A. N. Salami, a Director of Societe Generale Bank Nigeria Plc and thereby committed an offence punishable under Section 20(7) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc about 30th July, 1999 at Lagos in the Lagos Judicial Division of the Federal High Court without the prior written approval of the Central Bank of Nigeria permitted to be outstanding an unsecured loan of an aggregate amount in excess of N50,000.00 to Wit: the sum of N16,400,000.00 (Sixteen Million, Four Hundred Thousand Naira) to Iluyomade J. B. an officer of Societe Generale Bank Nigeria Plc and thereby committed an offence punishable under Section 20(7) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004. That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about August, 1999 at Lagos in the Lagos Judicial Division of the Federal High Court without the prior written approval of the Central Bank of Nigeria permitted to be outstanding an unsecured loan of an aggregate amount in excess of N50,000.00 to wit: the sum of N6,611,11.12 (Six Million, Six Hundred and Eleven Thousand, One Hundred and Eleven Naira, Twelve Kobo) to Oyenuga P. A. an officer of Societe Generale Bank Nigeria Plc and thereby committed an offence punishable under Section 20 (7) of the Banks and Other Financial Institutions Act Cap B3 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki while being a Director of Societe Generale Bank Nigeria Plc on or about 31st December, 1999 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N52,080,342.27 (Fifty Two Million, Eighty Thousand, Three Hundred and Forty Two Thousand, Twenty Seven Kobo) to one Arovuelen Mercy with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery Debts) and Financial malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc about 28th June, 2000 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N6,227,603.74 (Six Million two Hundred and Twenty Seven Thousand, Six Hundred and Three Naira, Seventy Four Kobo) to TEKISVIC Service Limited with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 18th March, 2003 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N160,516,339.90 (One Hundred and Sixty Million, Five Hundred and Sixteen Thousand, Three Hundred and Thirty Nine Naira, Ninety Kobo) to Reynolds Construction (H/O) with no security in contravention f the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Bank Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 8th March, 2003 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N13,997,769.32 (Thirteen Million, Nine Hundred and Ninety Seven Thousand, Seven Hundred and Sixty Nine Naira, Thirty Two Kobo) to Ankh Nigeria Limited. With no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 26th July, 2000 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N5,031,162.59 (Five Million, Thirty-One Thousand, One Hundred and Sixty Two Naira, Fifty Nine Kobo) to Al-Makura Nigeria Limited with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 9th august, 2000 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N5,025,111.15 (Five Million, Twenty Five Thousand, One Hundred and Eleven Naira, Fifteen Kobo) to Selratic Ventures with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 12th May, 2000 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N88,162,144.02 (Eighty Eight Million and Sixty Two Thousand, One Hundred and Forty For Naira, Two Kobo) to DTM with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and financial malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 31st July 2000 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N 7,867,043.77 (Seven Million, Eight Hundred and Sixty Seven Thousand , forty Three naira, Seventy Seven Kobo) to National Assembly Senator with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Bank Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 1st August, 2000 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N46,039,341.32 (Forty Six Million, Thirty Nine Thousand, Three Hundred and Forty One naira, Thirty Kobo) to Subtle Limited with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial malpractices in Banks Act Cap F2 of the Federation of Nigeria, 2004
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 4th May, 2000 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N27,924,114.43 (Twenty Seven Million, Nine Hundred and Twenty Four Thousand, One Hundred and Fourteen Naira, Forty Three Kobo) to Inter Allied Resources with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nig. Plc on or about 12th November, 2002 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N13,247,928.81 (Thirteen Million, Two Hundred and Forty Seven Thousand, Nine Hundred and Twenty Eight Naira, Eighty One Kobo) to ED. And F. Man. Nigeria Limited with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts ) and Financial Malpractices in banks Act Cap F2 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki, Robert Monu, Hafiz Bakare, Toyin Idowu, G. A. Oyenola, Yinka Fagbemi, Kennedy Izuagbe, Dele Iluyomade, Noah Olopoenia and Lana Haastrup while being Directors of Societe Generale Bank Nigeria Plc on or about 18th August, 1999 at Lagos in the Lagos Judicial Division of the Federal High Court recklessly connected with the grant of a loan in the sum of N6,407,254.00 (Six Million, Four Hundred and Seven Thousand, Two Hundred and Fifty Four Naira) to Oludeyi S. O. with no security in contravention of the law being in force at the time and thereby committed an offence punishable under Section 16(1)(a) of the Failed Bank (Recovery of Debts) and Financial Malpractices in Banks Act Cap F2 Laws of the Federation of Nigeria, 2004
That Robert Mbonu while being an officer of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court made a donation in the sum of N1, 000,000.00 (One Million Naira) to Governor Attah of Akwa Ibom State for political purposes and thereby committed an offence punishable under Section 38(2) of the Companies And Allied Matters Act Cap C20 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki while being an officer of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court did vote for a donation in the sum of N1, 000,000.00 (One Million Naira) to Governor Attah of Akwa Ibom State for political purposes and thereby committed an offence punishable under Section 38(2) of the Companies And Allied Matters Act Cap C20 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki and Robert Mbonu, while being officers of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court did vote for a donation in the sum of N1, 000,000.00 (One Million naira) to Chief Audu Ogbe for political purposes and thereby committed an offence punishable under Section 38(2) of the Companies And Allied Matters Act Cap C20 Laws of the Federation of Nigeria, 2004.
That Dr. Olusola Saraki and Robert Mobu, while being officers of Societe Generale Bank Nigeria Plc between 2002 and 2003 at Lagos in the Lagos Judicial Division of the Federal High Court did vote for a donation in the sum of N25, 000,000.00 (Twenty Five Million Naira) to Dr. Bukola Saraki for political purposes and thereby committed an offence punishable under Section 38(2) of the Companies And Allied Matters Act Cap C20 Laws of the Federation of Nigeria, 2004.
googletag.cmd.push(function() { googletag.display('comments'); });
googletag.cmd.push(function() { googletag.display('content1'); });
googletag.cmd.push(function() { googletag.display('content2'); });