In News by stephen abiodun on the 10th, August, 2020

Magu: How FCMB misled Salami panel over Prophet Omale

Magu: How FCMB misled Salami panel over Prophet Omale

*Financial institution CEO admits error of false posting of N573m into cleric’s church account

The Salami-led panel probing allegations of corruption towards suspended EFCC Chairman, Mr Ibrahim Magu, was surprised on Thursday when the MD/CEO of FCMB, Adam Nuru, instructed the panel that there was an error over the reported posting of N573 million into the church account of Prophet Emmanuel Omale.

The financial institution CEO was invited by the panel, following the alleged report that the cleric laundered cash for Magu and used the proceeds of the stated N573million to buy property for him in Dubai.

Narrating what transpired, Nuru stated, “On January 16, 2016, we made a return to NFIU which indicated that there was a transaction of an influx of effectively over N573million. (N573,228,40).

“This return was stated to be in favour of Divine Hand of God Prophetic Ministries Account No 1486743019.

“After that report, we carried out an investigation and found that the lodgement which we reported to NFIU was an error.

“The error was on account of the truth that we have been utilizing a financial institution software known as Pinnacle-7. Nonetheless, we migrated from that software to a more recent model known as Pinnacle-10.

“Often, when the financial institution intends emigrate from one software to a different, we make the most of weekends to hold out the train. The migration entails shifting all of the balances of consumers from the earlier software to the brand new software. The account of the Divine Hand Ministries was moved throughout that migration.

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“In that department, we’ve 983 accounts (Banex). The credit score steadiness in all of the 983 accounts domiciled got here to the aforesaid quantity. It was that steadiness of N573million that was wrongly posted as an influx into Divine Hand Ministries as reported to NFIU.

“ This error was not peculiar to Divine Hand of God Prophetic Ministries alone however was additionally ascribed to 27 different accounts.”

When requested why it took the financial institution about four years to find the error, the CEO responded that the financial institution simply realized the blunder upon invitation by the panel.”

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