Business News: FG Probe $2bn Atlas Maras’s Union Financial institution Alleged Fraud – Leadership Newspaper

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Business News: FG Probe $2bn Atlas Maras’s Union Financial institution Alleged Fraud – Leadership Newspaper

The Federal Ministry of Justice on Thursday 2nd July, 2019 continued to interrogated those implicated in the alleged fraud in which FGN lost $2 billio

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Business News: The Federal Ministry of Justice on Thursday 2nd July, 2019 persisted to interrogated those implicated within the alleged fraud by which FGN lost $2 billion and 65,000 plus ragged Nigerian shareholders of the financial institution were dispossessed. The Prison legit to the petitioner disclosed this to newsmen in Abuja shortly after the interrogation of the final events mentioned within the petition. In step with him, those invited for interrogation were two ragged federal ministers Senator Udo Udoma and Okechukwu Enelamah, GMD of Union Financial institution Emeka Emuwa, Chapel Hill, Nigerian Inventory Replace (NSE), SEC and CBN. “The felony investigations referring to Union Financial institution shares will bring collectively worldwide dimensions reaching United Kingdom, Canada, USA, Netherlands and Mauritius due to the Union Financial institution of Nigeria plc on the present time is controlled 49% by London listed Atlas Mara (ATMA:LN) which is in turn controlled by Fairfax Africa essentially essentially based in Canada and United States and Mauritius since the offshore shell firm known as Union Global Companions Restricted (UGPL) is one more necessary owner that has equipped and continues to offload its shares to Atlas Mara. “The Nigerians who were ragged shareholders of Union Financial institution of Nigeria eagerly no longer sleep for the tip outcomes of this investigation. “It decide that UGPL obtained 65% of the financial institution within the odious transaction that dispossessed Nigerians; and that AMCON owned roughly 20% which the UGPL consortium became unable to pay for, and which it has since equipped to Atlas Mara,” he added.

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