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Published On: Tue, Mar 25th, 2014

Depositors of closed Wonder bank raise alarm over N180m illegal withdrawal

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From Yakubu Mustapha, Minna

Over 60, 000 depositors of Wonder bank, Cashflowbi Network Ltd closed down about two years ago have called on the Economic and Financial Crimes Commission (EFCC) to investigate the alleged withdrawal of N180 million from their deposits at the Diamond bank and to ensure the

immediate refund of their deposits as ordered by an Abuja Federal High Court.

The depositors in a letter dated 10/3/2014, by a Minna based Human Rights Organisation, Conscience Search Association on their behalf, addressed to the Commission Chairman, expressed dismay that five months after a competent court constituted a committee to execute the

refund of depositors money, based on out of court settlement, the EFCC and the bank were adamant to initiate any action.

Moreover, the investors of the closure Wonder bank, whose operations have been trapped by the commission, also lamented that over N2 billion of their investments was still trapped in Diamond bank despite the out of court agreement signed last year in the suit no.

FHC/ABJ/CS/7/2013 noting that “this has subjected us to untold hardship”.

They stated that they were particularly disturbed that while the committee was docile, the Managing director of the closed wonder bank, Mr. Philemon Ibrahim Gora was receiving withdrawal alerts from the frozen accounts with Diamond Bank amounting to over N180 million.

The depositors further explined that under the out of court settlement, the parties involved did agreed that in public interest, the monies in Diamond Bank accounts should be transferred to a new account in First Bank to ensure that all investors were fully paid off, adding that the Diamond bank appeared to have ignored this by refusing to transfer the accounts amounting to over N2 billion.

They then called on EFCC to as a matter of urgency ascertain the authenticity of the withdrawal alerts received by the Managing Director and bring those behind it to book.

“Most of us have died waiting for the refund of our money. We appeal that you use your good office to ensure that all provisions of the agreement endorsed by the Federal High Court are carried out to the letter so that we can recover our deposits”, they stated.

Mr Mfon Udo who is the president of the Conscience Search Association Human Rights Office in Minna, said in an interview with our reporter that 2,000 of the 60000 depositors were from Niger state, stressing that the attention of the presidency, senate president and the Inspector General of Police (IGP) has earlier been drawn to the plight of the depositors.

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