Following Tony Elumelu’s Threat to Pursue Legal Action, Senate suspends UBA/NITEL probe


The panel, led by the Chairman, Senator Ayo Akinyelure, had last week Tuesday, summoned the management of the bank to appear before it on Wednesday (today).

Akinyelure had said that the bank was being summoned over an alleged N41bn indebtedness to the creditors and liquidators of the defunct Nigerian Telecommunications Limited and the Mobile Telecommunications Limited.

The panel’s summons followed a petition sent to it by J. U Ayogu and Co. on behalf of NITEL/MTEL.

Investigations by our correspondent on Tuesday, revealed that the Senate panel had postponed the public hearing.

Efforts by our correspondent to get official reaction from Akinyelure on reason for the postponement were not successful on Tuesday.

Calls put across to the senator were not connected while he had yet to reply to the text message sent to him as of the time of filing the report.

A member of the panel, who spoke on the condition of anonymity, however, told our correspondent that the hearing was postponed because of a fresh issue that cropped up after the summons.

He said, “We are not going ahead with the public hearing as scheduled tomorrow because there is a new development.

“The management of the bank had sent a communication to us which must be addressed before we proceed with our hearing.”

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