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Bail Out Funds: Falana Challenges EFCC, Tasks UI over Recession Claims



Sakin Babalola, Ibadan

Femi Falana
Human Rights Lawyer, Femi Falana (SAN) has threatened to apply for an order of Mandamus to compel the Economic and Financial Crimes Commission (EFCC) to investigate and prosecute the deposit ‎and  loan granted by former governors of Central Bank of Nigeria (CBN) to some Banks in the country running into trillions of naira from 2006 to 2011.

Falana, maintained it is important to know whether the money has been paid back to the treasury since the federal government claims the country is broke.

He alleged that  the petition he wrote to the EFCC has not been attended to  adding that we cannot be claiming to be broke when monies given out as loan or deposit are not accounted for saying the EFCC must probe, recover the funds and prosecute anybody found culpable.

Speaking at the Dinner organized by the Executives of Senior Staff Club of University of Ibadan in honour of her Members recently appointed by the federal government, Falana noted that the temptation in Abuja is colossal because there is looting everywhere however warned the distinguished professors not to join them.

‎He alleged that while a former Central Bank governor gave out $7billion to 14 Banks in 2006 without going through the parliament another CBN governor, now an Emir allegedly gave out $5billion and in 2011 reportedly paid “2.5trillion to economic saboteurs while all that was appropriated by the parliament was 245billion naira.

He challenged the University of Ibadan scholars to join issues with government on critical policies in order to put the country back on the path of glory saying that.

“In terms of ideas, this university used to be one of the greatest in Africa and a matter of fact in the 70s and 80s, it was the university of Ibadan radical scholars that subjected any idea from the seat of power to critical analysis.

Unfortunately that is no longer the case and I think we must bring back the loss glory of this university. Right now neo-liberal scholars and agents of imperialism are calling the shots of our country I expect the University of Ibadan to join issues with the government to know whether we are really broke or we are talking about a case of gross mismanagement of our resources.”

“Please join us in an ongoing struggle by the Akotiletas in our country to sell whatever is left of our national assets including the most lucrative business in Africa today, the LNG which has generated $33.2billion”‎.

The legal luminary then asked university of Ibadan scholars to challenge government with the knowledge and information at their disposal while he tasked those appointed to represent the integrity of University of Ibadan and resist the temptation of looting and return impeccable.

Earlier, the president of the Senior Staff Club, UI Professor Femi Adegbesan‎ stated that the appointment of Professors Segun Ajiboye,  Isioma Isiugo-Abanihe, Prof Salako, Lanre Aina and others reflected the recognition of the intellectual abilities of the appointees in their areas of specialization to develop the country stating that as members of the club it was imperative to express the readiness of the club membership to assist them in succeeding in their new callings.

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