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From Romanus Ugwu, Abuja
Civil rights advocacy group, Human Rights Writers Association of Nigeria, (HURIWA), has warned that the sale of commercial bank, Polaris Bank, will negatively affect the electoral fortune of the All Progressives Congress (APC) in the 2023 general elections.
The right group also called on President Muhammadu Buhari, not to allow plot to sell the commercial bank as reported in a section of the media.
A news platform had reported that the CBN had allegedly proceeded with the secret sale of the distressed bank.
The group cautioned that if the Commercial Bank is sold it will not only compound the harsh economy Nigerians were going through.
Although the management of the bank had debunked reports, describing it as a “fake news report”, he however urged the public to disregard it.
The Bank through a statement described the report as speculative and deliberately intended to create panic.
But in a statement of caution issued on Tuesday in Abuja by the national coordinator of HURIWA, Emmanuel Onwubiko, the group criticised the alleged lack of transparency and the shadiness in the reported sale of the bank allegedly by the CBN.
While calling on the President to avoid negative effect of such move against the APC, HURIWA said: “President Buhari should stop the illegal sale of the bank immediately. The CBN governor has apparently been misinforming the President to approve ridiculous sales just as he wrongly advised the President to approve the sale Exoon Mobil to Seplat and the attendant bank and forth.
“Recall that Emefiele was also allegedly fingered in the ridiculous sale of 104-year-old Union Bank by two-year-old Titan Trust Bank. The Economic and Financial Crimes Commission (EFCC) should have probed the CBN governor over this allegation which is contrary to Sections 9 and 11 of the CBN ACT 2007, but as usual, the former presidential aspirant of the APC, is an untouchable cabinet member of President Buhari.
“The CBN should be stopped from allegedly selling off banks in the country to cronies and friends as end-of-tenure benefits,” the statement read.
The group in a statement also called on the apex bank to take stand on the position of the bank on the matter in order to douse tension among the customers and stakeholders of the bank.
According to HURIWA, “It is concerning that the so-called sale lacks transparency and is shrouded in so much darkness as no due diligence was not carried out, no tender, no advertisement to create public awareness, nothing, just some kangaroo and arrangee sale.
“To be exact, selling a bank which over N1.2 trillion was used to rescue at an alleged N40 billion is highly ridiculous and scandalous,” the statement read.
