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HomeBUSINESSSenate Quiz Tony Elumelu’s UBA over N41b Scam
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Senate Quiz Tony Elumelu’s UBA over N41b Scam

The United Bank for Africa will have to explain unauthorised withdrawal of N41 billion from accounts of NITEL/MTEL domiciled there by liquidators of the telecommunication firms.

That’s according to the chairman of the Senate committee on Ethics, Privileges and Public Petitions, Senator Ayo Akinyelure.

The Akinyelure-led committee had summoned the UBA Group Managing Director, Kennedy Uzoka, to appear before the panel last Wednesday over the allegation but the planned probe could not hold due to exceptions taken by the Chairman/CEO of UBA, Chief Tony Elumelu to amplified allegations by the Senator against the Bank.

Elumelu had, in his reaction to the alleged N41 billion scam against UBA, threatened to take up Akinyelure legally if the allegation were not retracted within seven days.

The lawmaker, in a statement he personally signed, clarified that what the committee wanted from UBA on the alleged N41billion withdrawals was explanations to that effect.

In the statement titled: “Clarification of Allegations of false and malicious publication against Chief Tony Elumelu, Chairman/CEO of UBA Plc” Senator Akinyelure said his earlier submissions on the matter during media briefing were not meant to blackmail Elumelu or the bank but to let the general public know the allegations levelled against the financial institution.

“My action as the Committee Chairman to address the press is to distinguish between two petitions against UBA before it, and not meant to cause malicious damage to the management at UBA Plc, having invited them for a closed-door meeting twice to resolve the issues amicably without success.

“My media briefing was therefore never intended to blackmail or cause any malicious damage to the reputation of Chairman/CEO of UBA Plc, Chief Tony Elumelu or any of its officials, but our responsibilities to the whole Nigerians as democratically-elected representatives of the people in the legislature to fight for their rights where we feel that their rights have been infringed upon,” he said

He, however, insisted that the UBA management needs to appear before the committee to respond to the two petitions filed against them by creditors and liquidators of NITEL and MTE.

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