ICPC Recovers N.42m Dividend for Varsity Staff

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has helped a senior staff of University of Jos, Mrs. Abisola Titilayo Oluwadare, to recover N420,000 being proceeds from her Skye Bank Plc. shares which First Bank of Nigeria Limited had failed to remit to her.

Mrs. Oluwadare, a Chief Technologist in the University, had purchased N350,000 worth of Skye Bank shares through First Bank in 2008, but was not issued any share certificate.

Worried by the non-issuance of the certificate, the complainant contacted First Bank to claim her accumulated interest on the shares but was turned away by the bank.

She said, “I was not issued a share certificate after one year of purchase. I later enquired from First Bank through a lawyer, and then a N72,000 interest which was 15% on the shares was offered instead of the initial 23% interest agreement upon purchase after eight years.”

She reported the matter to Central Bank of Nigeria (CBN) and the apex bank referred the case to ICPC for further investigation.

The Commission’s intervention led to the complainant being paid her money. A cheque of N420, 000 was handed over to Mrs. Oluwadare by Mr. Mike Agboro, Head of Financial Investigation Unit, who represented the Chairman of ICPC at the Commission’s headquarters.

Oluwadare expressed gratitude to God and the Commission for its prompt intervention which resulted in the recovery of her money with interest. “I am greatly impressed and I have been telling people about ICPC. I thought ICPC was only for politicians,” she said.

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