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Exclusive: How Tunde Ayeni, Hassan Usman, Ors Bankrupted Aso Bank

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Elombah.com is in possession of documents indicating how several individuals, in connivance with top employees, perpetrated some organised, massive corruption and bankrupted Aso Savings & Loans [ASL] Plc.

 Some individuals mentioned in the fraudulent activities that brought Aso Savings & Loans to its knees include:

  1. Former chairman of Skye Bank, Mr Tunde Ayeni,
  2. Former MD of Aso Savings & Loans Plc., Mr Hassan Usman,
  3. Son of former Minister of the Federal Capital Territory [FCT], Bala Mohammed, Shamsuddeen, and,
  4. Host of others.

The documents were made available to Elombah.com by an insider in Police headquarters, Abuja, who was privy to the said fraudulent activities and their perpetrators.

The matter was incubated when some Aso Savings & Loans bigwigs masterminded an attack against the person of Hajia Maimuna Sanda Aliyu, who was a former senior staff in the bank.

Hajia Maimuna Aliyu’s residence and the residence of her son both located in Abuja were picketed simultaneously in the morning of Saturday, June 17, 2017, by ASL staff allegedly at the instigation of Tunde Ayeni and Hassan Usman.

ASL employees were seen by Hajia Maimuna’s neighbours as well as passers-by carrying placards demeaning her as the architect of the bank’s insolvency.

Both neighbours and passers-by had a field day filming and jeering her and her son simultaneously, the videos of which went viral on social media.

In a bid to prove her innocence, Hajia Maimuna then approached the renowned foremost whistleblower, Dr George Uboh with explosive evidences of massive corruption in the highest echelons of the financial institution, Aso Savings & Loans.

According to the synopsis of frauds committed in the documents obtained by Elombah.com from Police headquarters;

  • Monumental deals were fraudulently executed at the detriment of the bank;
  • Tunde Ayeni, York Assets, Olutoya –  Tunde Ayeni’s company, Aso Grove, Hassan Usman, retired DIG of Police, Abdulkadir, son of former Minister of the Federal Capital Territory [FCT], Bala Mohammed, Shamsuddeen, and a host of others had a feast on Aso Savings & Loans.
  • Ironically, the central Bank of Nigeria [CBN] recommended that Tunde Ayeni be relieved of his duty as Director in 2012 but was, rather, promoted to Chairman by the end of the year, to mention but few.

Another shocking revelation in the document was how one billion Naira went into legal resource alliance Account operated by Tunde Ayeni, while 950 million Naira went into trading places account operated by Shamsuddeen Mohammed.

The recent revelation is part of the grand and massive corruption perpetrated by some mafia in the banking sector whom George Uboh called the “Banking Sector Mafia”.

In a recent landmark judgement passed by a Federal High Court in Lagos, the Court ordered that $793 million in TSA funds hidden in 7 banks in collusion with some government officials be remitted to TSA account.

In February/March, 2016, George Uboh traced N324 Billion Naira in banks (over 1 Billion USD then) within 27 days in TSA funds under federal engagement.

The banks, knowing Uboh would trace Trillions of Naira, scuttled the engagement, hence Uboh coined the phrase “Banking Sector Mafia” in his May 9, 2016 open letter to President Muhammadu Buhari in which he posited that President Buhari’s cardinal TSA directive was being flouted.

In late August 2016, CBN Governor, a former chief executive of Zenith Bank, found $2 Billion TSA funds in 8 banks, threatening to sanction the banks, albeit he did not find anything at Zenith, prompting Uboh to hold press conferences criticizing him for such self-serving exoneration of Zenith Bank.

In December 2016, Finance Minister found over N500 Billion TSA funds hidden in banks by MDAs which prompted Uboh to hold press conferences, and met with the Finance Minister on January 16, 2017 on the need to use whistleblowers policy to recover Trillions in TSA funds hidden in banks.

Uboh had always maintained that if any serious individual will effectively fight corruption, the best place to start will be the banks which have always been the nest where eggs of corruption and embezzlements are laid and hatched.

Read the full story:

Elombah.com will publish the response of Aso Savings & Loans, Tunde Ayeni, Hassan Usman, Shamsuddeen Mohammed, as well as George Uboh’s, as soon as they all respond to our applications in subsequent bulletin.

Meanwhile, see below the attached petition written by Dr Uboh and addressed to the Managing Director, Aso Savings & Loans and copied to the AGF, DSS, EFCC, IGP, et al:

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