Bailout fund: Kogi Assembly extends ultimatum for Sterling Bank MD

Sterling Bank MD Abubakar Suleiman

Kogi State House of Assembly has given the managing director of Sterling Bank Plc Abubakar Suleiman a new date – December 8 – to appear before it following his failure to make an appearance on Tuesday.

The house had on November 9 threatened to issue a warrant of arrest against Mr Suleiman if he did not appear before it in person.

Suleiman is needed before the legislators to make clarification on the N20 billion bailout fund which the bank claimed to have sent back to the Central Bank of Nigeria (CBN) after initial claims that the Kogi State Government deposited it in a fixed deposit account.

The Sterling Bank boss, it was learnt, sent a letter to the assembly, urging it to reschedule his appearance.

According to the letter, the bank executive is currently attending AFREXIM trade fair in South Africa.

Speaker Matthew Kolawole noted that the letter was not written on the bank’s letterhead.

He, however, said that for equity and fairness, the House had agreed that Suleiman be rescheduled to appear on December 8 in person, adding that no form of representation would be accepted.

Suleiman had failed to honor the invitation of the house on three occasions.