Bank vows to recover assets from dropped ICPC nominee Aliyu

 The Management of ASO Savings & Loans Plc says it is focused to recover its assets, and lawfully pursue its claims from an aggrieved ex management staff in spite of the negative publicity its efforts may have attracted.

The bank in a statement sent to Ripples Nigeria, also stated that it is working with the law enforcement agencies to recover its assets and resolve all the issues, even as it will continue to work with all regulatory bodies and provide all necessary information that may be required.

Though the bank failed to mention names, it is believed to be referring to a recent nominee for the board of the Independent Corrupt Practices and other offences Commission (ICPC) Maimuna Aliyu a former management staff of the bank, whose nomination was dropped.

She was dropped along with Sa’ad Alanamu, following revelations of alleged involvement in corruption, abuse of office, misappropriation and diversion of public funds.

The Bank said it “remains focused on its objective of asset recovery and is pursuing these claims lawfully, working with the law enforcement agencies to recover its assets and resolve all the issues. The Bank will continue to work with all regulatory bodies and will provide all necessary information that may be required.

“The Management of ASO Savings & Loans Plc is aware of recent negative publicity about the bank.

“The allegations raised are a direct result of sustained efforts by the Bank to recover its assets from an aggrieved ex Management staff over the last 18 months. We are working with the relevant law enforcement agencies in this regard.

“The Bank remains focused on its objective of asset recovery and is pursuing these claims lawfully, working with the law enforcement agencies to recover its assets and resolve all the issues. The Bank will continue to work with all regulatory bodies and will provide all necessary information that may be required.

“Regardless of the news, allegations and information that may continue to circulate, we are confident that the truth will emerge. The Bank will continue to focus on its daily operational activities and will not be dragged into public exchange of words in a bid to distract it from its on-going recovery process”, the bank stated.

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It would be recalled, that the media had revealed that Ms. Aliyu, a former executive director of the Aso Savings and Loans, has a longstanding case of abuse of office, misappropriation and diversion of public funds against her, and that charges were already being prepared against her by the ICPC in preparation to taking her to court when her name was announced as member of the new board of the commission, by the then Acting President, Yemi Osinbajo.

Apart from the ICPC investigation, it was reported, that the Economic and Financial Crimes Commission (EFCC) and the Nigerian Police have investigated several corruption cases against Ms. Aliyu.

It was also gathered, that a police investigative report had indicted her in May, and recommended her for prosecution. The investigative report dated May 31, 2017, and signed by Taiwo Oyewale, a Superintendent of Police, for the Deputy Commissioner of Police, IGP Monitoring Unit, said Ms. Aliyu illegally converted to personal use a total of N58 million being proceeds of three plots of landbelonging to her employers, Aso Savings and Loans.

The bank also alleged that in 2012, Ms. Aliyu sought and got a mortgage facility of N40 million to purchase five houses – four-bedroom detached mansionettes.
However, after she resigned her appointment in September 2013, the former executive director reportedly said she could no longer bear the burden of the payments and requested the bank to cancel the mortgage on four units and take them over. She said she would continue to maintain the mortgage contract on just one unit.

However, since 2013 when she left the bank, Ms. Aliyu has allegedly refused to hand over the four houses and has not serviced the mortgage on them. It is believed that she has since sold the units and pocketed the money.

The bank also alleged that Ms. Aliyu abused her office by illegally allocating a house at Aso Groove Estate to her son, Sand Aliyu.

According to the bank, Ms. Aliyu had showed interest in buying the house for her son in the name of a company in which he is a director.

However, because she had all the keys of the houses put up for sale by the bank since she was in charge of marketing and sales, Ms. Aliyu handed over the key to the house to her son without paying a dime for the house worth N210 million. She still has not paid for the house till date and her son continues to live there.