17 Mar 2015

Senate panel faults sale of Cecilia Ibru’s assets



Cecilia Ibru   
Cecilia Ibru  
The Senate Committee on Drugs, Narcotics, Financial Crimes and Anti-corruption on Monday described as absurd, the process employed by the Assets Management Corporation of Nigeria to dispose of the assets of the former Managing Director of the defunct Oceanic Bank International Plc, Mrs. Cecilia Ibru.



A Nigerian, whose identity was not revealed, had petitioned the committee alleging that AMCON’s sale of the assets worth about N569.9bn, which Ibru forfeited to the Federal Government, was shrouded in secrecy.
The Chairman of the committee, Senator Victor Lar, explained that Ibru, during the course of her prosecution by the Economic and Financial Crimes Commission, pleaded guilty and entered into a plea bargain to hand over all assets she acquired with depositors’ funds to the Federal Government.

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