By Adewale Sanyaolu
FOLLOWING the visit of the operatives of the Economic and Financial Crimes Commission (EFCC) to the Bank of Industry (Bol) Lagos office on Monday, the bank has clarified that the issues surrounding the N13 billion Cement Technology Institute of Nigeria (CTIN) Development Fund, upon which the bank got an invitation, had since been resolved.
The Cement Development Fund established the fund to primarily develop human capacity, promote research and development with a view to domesticating technology in the cement industry in the country.
Acting Managing Director of Bol, Mr. Waheed Olagunju, at a media briefing held in Lagos yesterday, to clarify the bank’s position over the visit of EFCC in connection with the N13 billion cement development fund, explained that contrary to claims, he never declined the anti graft agency’s invitation.
Olagunju disclosed that EFFC extended an invitation to him to be present at its office on Monday, but could not honour the invitation due to the Stakeholders’ Forum on the Nigerian Automotive Industry, which held same day. ‘‘But despite my inability to be honour the invitation of EFCC,I had detailed some of my colleagues to stand in for me. While they were in the office, gathering the documents in relation to the cement development fund, the operatives stormed the office.
For a fund that has been in our custody since 2011, it will take some time putting all documents in relation to the transaction together, and that was exactly what Bol officials were doing when the operatives came visiting.
I have since visited their office on Tuesday, and I have made useful statements in relation to the cement development fund. Bol and EFCC are partners in progress, and I have nothing against their request to beam a searchlight on our activities,’’ he said. But a letter from Dangote with reference number CTIN/BOT/1/ and addressed to the EFCC Chairman dated June 20, 2016, advised the EFCC to discontinue investigations of the subject in respect of Bol.
‘‘Further to our petition on the subject dated November 23, 2105. We have engaged the management of Bol on the recovery/management of the CTIN funds in the custody of the Bank. These engagements had resulted in an agreement in principle, between CTIN and Bol for the latter to manage the funds on condition of a satisfactory interest rate to be agreed by both parties,’’ the letter reads in part. can just happen. People take advantage of others and the perpetrators get away with it.
“They wrote ‘Not for Sale’ on the book, that the copies were freely given by UBEC. But UBEC ought to have asked Macmillan if the author had given his consent to give out the book. There was no agreement between us in whatsoever form. Not even a kobo was given to me by any of them. It is an irony that UBEC, which is a Federal Government agency, colluded with Macmillan to breach the law of the land by stealing my work.
“In this very matter, l need justice and adequate compensation from all the parties involved in stealing my book. I believe this will serve as a deterrent to others, who indulge in similar act.”
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