By Kayode Ogundele
Sterling Bank has denied reports alleging that it is hideously keeping huge sums allegedly belonging to the National Petroleum Investment Management Services (NAPIMS) and Nigerian Petroleum Development Company (NPDC).
The bank in a statement by Henry Bassey, Chief Marketing Officer
Brand Management & Communications Group, denied the report which emanated from an order by the Federal High Court sitting in Lagos on Thursday mandating it to remit the sum of $46.5m to a designated Federal Government Asset Recovery Account with the Central Bank of Nigeria.
The sum in question supposedly represents undisclosed qualifying funds under the Federal Government’s Treasury Single Account (TSA) policy illegally kept by NAPIMS and NPDC.
“We wish to state unequivocally that Sterling Bank does not hold any sum in any currency as a deposit from either of these entities.
“We have therefore written formally to the Office of the Accountant General of the Federation (AGF) demanding a clarification of this claim and a correction in the interest of the general public,” the statement stressed.