Falana urges EFCC to probe CBN loans to banks

Human rights lawyer, Femi Falana (SAN) has urged the Economic and Financial Crimes Commission (EFCC) to investigate the loan granted some commercial banks by the Central Bank of Nigeria (CBN) running into billions of naira between 2006 and 2011.

The legal luminary also tasked scholars at the University of Ibadan (UI) to join issues with government on critical policies in order to put the nation back on the path of glory.

Falana who spoke at the dinner organised by the Executives of Senior Staff Club of University of Ibadan (UI) in honour of her members recently appointed by the Federal Government said it was important to know whether the money has been paid back to the treasury since the nation is broke.
He said: “We cannot be claiming to be broke when monies given out as loan or deposit are not accounted for. The EFCC must probe, recover the funds and prosecute anybody found culpable.”

According to Falana, while a former CBN governor gave out $7billion to 14 banks in 2006 without going through the parliament, another allegedly gave out $5billion and in 2011 reportedly paid “N2.5trillion to economic saboteurs while all that was appropriated by the parliament was N245billion.”