Commission of Inquiry invites Zenith Bank

The Judicial Commission of Inquiry into the activities of the immediate past administration sitting in Jos, has ordered the Zennith Bank Plc, Beach Road branch to submit statements of account and also explain the dramatic transfer of over two billion naira meant for Plateau State Micro Finance Development Agency (PLASMIDA) to Project Account one (1) within three days.
This order came when the protem General Manager of PLASMIDA, Mr. Sylvester Chuwang Davou, appeared before the Commission at the Azi Nyako Youth Centre Dadin-Kowa to explain the inexplicable remittance of CBN-Small and Medium Enterprises Exposure Funds to Project Account one account instead of PLASMIDA account to carry out what it was intended for was not formalized.
Mr. Davou said the N2bn SME Funds was remitted into account are given approval by the then Governor Jonah Jang, because establishment of PLASMIDA what prompted the CBN to stock the Funds into the said account he cannot tell as he was not a signatory to the account to have signed for the transfer of the said funds.
He said, the former Commissioner for Finance, Hon. Davou Chomo Mang and Former Accountant General Mr. Boyi Sauka would be in a better position to explain on that.
the N2billion was part of the N220billion Federal Government Intervention Funds from CBN-SME to Micro-Finance Banks disbursed to states across the country that came at the tail end of the last administration in March 2015 to address issues that had to do with the plight of Nigerians.
However, when the former Plateau State Commissioner for Finance appeared before the commission to explain how the fund meant for PLASMIDA was transferred and used, he said, the fund was borrowed by the state Government through Governor Jang’s directive to address some pressing issues because the Agency had been in limbo pending its formalization.
What The Nigeria Standard could not comprehend was the transfer of the N2b to the PLASMIDA account which was said to have no account for three days and back to Project Account 1 account in the closing months of the administration.
Meanwhile, the Chairman of Commission Hon. Justice Stephen Adah (JCA), has warned that any attempt to feed the commission with false story or statement by anybody appearing before the commission would attract a charge to a regular court without mercy, hence the need for those appearing to say nothing but the truth.

The Nigeria Standard

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