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Reps summon Emefiele, Magu over N12 billion currency scheme


Godwin Emefiele

• Seek enhanced healthcare for prisoners
The House of Representatives Committee on Public Petitions yesterday invited the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele and Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu to appear before the House to explain their role in the over N12 billion virtual currency scheme involving 60,000 Nigerian investors.

Chairman, House Committee on Public Petitions, Uzoma Nkem-Abonta, who issued the directive at the end of hearing a petition instituted by Philemon Ibrahim Gora, asked the Inspector General of Police (IGP) to appear before the committee on May 30, 2017.

The petitioner alleged that Diamond Bank unlawfully closed the account and withheld fund deposited in the account worth N12 billion, assured the committee that all the depositors would be paid as soon as the account is unfrozen.


CBN Executive Director, Georgina Nwankwo, who acknowledged receipt of the petition in February 2014, informed the committee that there was a petition listing over 400 illegal fund managers in the system, of which cash flow was one, added that the apex bank did not order the money to be frozen as alleged.

On her part, Unoma Ndulue, Diamond Bank Team Legal, North, who argued that there was no money in the account with the bank, confirmed that the fund is a “virtual fund. A crypto currency that is traded online.”

While ruling, Nkem-Abonta said the committee should hold a meeting between Diamond Bank, EFCC, CBN and the petitioner to resolve the matter.

Also yesterday, the House of Representatives urged the Federal Government to provide quality healthcare services for prison inmates in the country.

This followed the unanimous adoption of a motion titled “Need to address the deplorable state of health care service provision in Nigerian prisons,” by Chike Okafor (Imo-APC).

Okafor said non-availability of drugs and inadequate medical personnel had resulted in avoidable deaths of inmates.

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