SCANDAL! First Bank MD, Onasanya in trouble as EFCC traces Dickson’s $4m stolen money to him

The Managing Director of First Bank PLC, Mr. Stephen Olabisi Onasanya is presently in a serious financial mess as Economic and Financial Crimes Commission (EFCC) has recently traced an unregistered account with deposit worth Four million dollars ($4m) of the governor of Bayelsa State, Seriake Dickson, to First Bank.

It was reliably gathered that what has led to this discovery was an investigation carried out on Bayelsa State governor by the EFCC, having been hinted that Governor Dickson has been looting the state treasury through different anonymous means.

The Managing Director of First Bank, Bisi Onasanya and Bayelsa State governor, Seriake Dickson have been known to be very close friends. According to the investigation carried out, EFCC discovered that Dickon had, on several occasions, transferred a huge amount of money from the state treasury to First Bank. Also, it was discovered that this might not have been possible, but for the support of the big boss in the bank, Bisi Onasanya.

In the same vein, our reliable source noted that Bisi Onasanya was not doing this for the sake of friendship only as he gets a certain percentage for every deposit made into this hidden account on each occasion.

It would be recalled that the former Nigerian Minister of Aviation, Ms. Stella Odua, who was disgraced out of office, had also been alleged to have used First Bank, with the consent of this same Bisi Onasanya, many times to perfect her financial misappropriation. 

Investigations had revealed then that a fund amounting to over $76million supposedly kept with the Central Bank of Nigeria and purportedly under the control of the Nigeria Civil Aviation Authority (NCAA) was tapped out for unapproved and unauthorized expenses and budgets.

The fund which was in excess of N11billion had been spent on different contracts awarded by the Minister of Aviation Mrs. Stella Oduah and the Managing Director of FAAN Mr. George Uriesi without due process, no approval of the Bureau of Public Procurement (BPP), no due process certificate issued, and no federal Executive Council approval. 

These spending were neither budgeted nor appropriated in the Budget passed by the National Assembly, had no Federal Executive Council Approval and did not comply with the spending limits allowed by the delegated financial authority of the Government.

Therefore, this new development of another financial scam involving Gov. Dickson of Bayelsa State and Bisi Onasanya of First Bank would definitely make many conclude that the Managing Director of First Bank derives so much pleasure and gain in allying with the political officers to mismanage public funds. 

However, it was reliably gathered that this time Bisi Onasanya will not escape prosecution and likely consequences as EFFC is now fully determined to take him and Dickson up on this, coupled with the fact that the incoming administration of General Muhammad Buhari would most likely have zero tolerance to corruption.

By: Kola Popson (Naijahottestgist)