These are not the best of times for Keystone Bank Limited and its
managing director/chief executive officer, Mr. Phillip Ikeazor as the
House of Representatives on Monday urged the Economic and Financial
Crimes Commission to commence investigation into an alleged illegal
movement of N4 billion from the Industrial Trust Fund’s account
domiciled with the lender.
Rep. Ibrahim Baba, the Vice Chairman, Public Accounts Committee,
House of Representatives, made the call following a query issued by the
office of the Auditor-General of the Federation.
According to the query dated December 2010, a total sum of N4.2
billion was illegally moved three times in November from ITF account to
other accounts.
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