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Unity Bank has faulted the allegation against it by Special Presidential Investigation Panel for Recovery of Public Property (SPIPRPP) over the ongoing reconciliation of the affected MDA accounts.
It says the report is geared towards misinforming the public and misrepresenting the bank’s position and nil impact resolutions reached during the reconciliation engagements. This is contained in a press released from the bank on Tuesday.
According to the press statement, in the ongoing investigation, the bank has conducted itself professionally by providing all evidence of customers instructions requested by the panel as it relates to all the MDAs. The bank had earlier transferred all the MDAs balances to their respective TSA accounts in Central Bank of Nigeria as far back in 2016.
Upon approaching the bank in 2018 to conduct investigations on the subject MDAs, the bank cooperated with the panel accordingly. But out of its own volition, the panel refused to admit further documentary evidence from the bank when it was obvious that the bank had no balances kept in its books for the MDAs.
Instead, the panel suspended the investigation, as apparently could not fault any of the evidence presented by the bank.
The panel in an earlier letter requested the bank to accept culpability and pay off a certain sum deemed outstanding, which the bank objected and insisted on completing the reconciliation exercise because the claims presented at this point against it were unfounded and frivolous.
It is therefore surprising for the SPIPRPP to turn back and issue statement to allege sabotage when it abandoned its sitting and investigation midway.
Furthermore, it must be emphasised that, without prejudice to the constitutional power of Revenue Mobilisation and Fiscal Allocation Commission (RMFAC) as the sole agency of government to investigate, review, reconcile and collect revenue … Read More...