N20bn bailout: Sterling Bank’s MD Fails to Appear before Kogi Assembly, Sends Letter Again

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Despite threat of arrest issued on him last week by the Kogi State House of Assembly, the Managing Director of Sterling Bank Plc, Abubakar Suleiman did not turn up before the lawmakers on today’s plenary to answer questions on the N20bn bailout the bank claimed to have returned to the Central Bank of Nigeria.

Recall that the House had threatened to arrest the Bank’s MD if he defied the invitation of the lawmakers for the second time. 

Defying the threat of arrest, Mr. Suleiman sent a letter to the House informing the lawmakers he was attending AFREXIM Trade Fair in South Africa. 

The letter which was read by the Speaker, Prince Matthew Kolawole, urged the house to reschedule. 

However, the Speaker faulted the letter which he said was not written on the letterhead of the bank. 

Kolawole again gave the Director few weeks to appear before the house, as failure to do so will compel the house to issue a warrant of arrest on him.