A Federal High Court Judge, Justice Okon Abang has called for the prosecution of United Bank for Africa (UBA) and Fidelity Bank Plc over aiding fraud.
Justice Abang made this call while delivering judgement in a case of N2bn fraud involving a former chairperson of the defunct Pension Reform Task Team (PRTT), Abdulrasheed Maina.
The judge noted that United Bank for Africa (UBA) and Fidelity Bank Plc which were used by Maina as “conduit” to defraud pensioners ought to have been charged alongside Maina.
“UBA and Fidelity Bank provided the channels with which the convict (Mr Maina) used in defrauding the federal government”
Justice Okon Abang held that their licences ought to have been withdrawn as the banks benefitted from the proceeds of illegal transactions.
He said the banks abdicated their responsibilities by failing to carry out due diligence to establish the true identities of persons in whose names Mr Maina opened and operated the fictitious bank accounts.
The judge emphasized that Nigeria is in urgent need of national rebirth to address the prevalence of monumental financial fraud in Nigeria’s public sector.
Justice Abang said while the convict lived in opulence at the expense of pensioners, his victims died in penury in Nigeria.
The judge declared that the convict, through the assistance of UBA and Fidelity Bank Plc, deprived the pensioners that gave their all to this country in their youthful age, their legitimate earnings.
“Whereas the convict was feeding fat on their sweat faraway in Dubai, the United Arab Emirates (UAE), buying choice properties, driving bulletproof cars, living in affluence beyond his legitimate earnings.
“An abnormal situation requires drastic actions to send a message to those that believe in dishonesty to have a rethink; turn a new leaf, the judge held