Can Nigerians trust Nigerian Banks when most of the banks belong to those who have links to money laundering schemes and corrupt practices?
The
Nigeria Deposit Insurance Corporation(NDIC)should investigate the activities and accounts of the following Nigerian banks:
1. Bank PHB Plc
2. Zenith Bank Plc
3. Spring Bank Plc and
4. Skye Bank Plc.
Bank PHB Plc is about to acquire the majority shareholdings in Spring Bank Plc, but there is large scale sharp practices reported at the popular Bank PHB and the financial interests of the President of the Federal Republic of Nigeria, Alhaji Umaru Yar'Adua in this bank should be open to the public. The NDIC should investigate the bank for large scale fraud. The source of income of every member of the Board of Directors of Bank PHB should be queried.
The Economic and Financial Crimes Commission (EFCC) may have dropped the charges against Mr. Jim Ovia, the MD of Zenith Bank Plc, but there are still many unresolved issues that the NDIC must address if Mr. Ovia deserves the 'administrative bail,' while his managers are still being held over the N3.2 billion deposits by the Rivers State Government.
The NDIC should also investigate Skye Bank Plc and Spring Bank Plc, because they are not healthy.
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