N41bn Fraud: No threat will stop UBA probe, Senator Akinyelure vows

The Chairman, Senate Committee on Ethics, Privileges and Public Petitions, Senator Ayo Akinyelure has said that he was not perturbed by the threat made by the United Bank for Africa (UBA) against him over planned probe of the bank.
The Senate is probing the alleged N41 billion withdrawal by the Bank from accounts of Nigerian Telecommunications Limited (NTEL) and Mobile Telecommunications Limited (MTEL) without authorisation.
Akinyelure had, last week, alleged that UBA, based on petitions before his committee, withdrew N41 billion out of N42 billion liquidators of NITEL and MTEL deposited in the bank without any authorisation from the liquidators.
The lawmaker, on the strength of the petition, summoned the Group Managing Director of UBA, Kennedy Uzoka, to appear before his committee for explanation on the alleged fraud.
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 said the bank would not honour the Committee’s invitation since the issues at stake were already a subject of litigation in the court of law.
In his reaction to the threat, Akinyelure said neither apology nor retraction would be made by him as written petitions alleging UBA to have committed the N41 billion fraud were in the possession of his committee.
In a statement signed by his Special Adviser on Media, Charles Akinwon, the lawmaker said the threat from UBA would not stop his committee from forging ahead with the planned probe.
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 Distinguished Senator, 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’s 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.
“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.”