- Mr. Oliver Alawuba, MD, United Bank for Africa, UBA
By SCM REPORTER, Osogbo, Nigeria
OSOGBO, Osun – TOP management staff at one of United Bank of Africa, UBA Plc are facing a legal nightmare after an Osun Magistrate Court issued warrants for their arrest over a “ghost account” scandal.
A magistrate in Nigeria has ordered police to hunt down the chiefs of United Bank for Africa (UBA) after they failed to show up to answer serious fraud charges.
The drama centers on claims that the bank helped set up “unauthorized” accounts to funnel millions in local government cash.
The ‘Wanted’ List
The court issued bench warrants for three high-flying executives: Mr. Oliver Alawuba – Group Managing Director; Chukwuma Nweke – Deputy Managing Director; Billy Odura – Group Legal Adviser Political Civil War
The row has sparked a political firestorm in Osun State. Officials claim the bank allowed the accounts to be opened so that “sacked” politicians from the opposition party could keep their hands on the purse strings.
Osun’s Information Commissioner, Oluomo Kolapo Alimi, slammed the move as a plot to cause “chaos” in the region.
He claims the former administration is working with federal agencies to grab back power through the back door.
The state’s Attorney General dragged the bank to court after local chairmen blew the whistle on the mystery accounts.
February Showdown
A spokesperson for the state government said they have “full conviction” that the courts will bring the UBA top bankers to justice.
The case has been adjourned until February 10, but the heat is on.
If the “UBA Three” don’t show their faces in the Osogbo dock, they could be facing a very different kind of boardroom.
