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Thursday, 13 April 2017

Skye Bank Explained: Why We Blocked Patience Jonathan from Withdrawing her $5.8 Million

Here is trending gist as two days after Patience Jonathan was blocked from withdrawing from the $5.8 million she deposited in Skye Bank, the financial institution has explained its action.


Base on report gathered, Mrs. Jonathan had on Monday visited the Maitama Branch of Skye Bank in Abuja, seeking to withdraw from her account.

The move followed an April 6 court order that lifted restrictions on the former First Lady’s account as a result of an ongoing litigation by the Economic and Financial Crimes Commission.

But bank officials declined to initiate any transaction for Mrs. Jonathan, despite spending time in the bank’s premises.

In an interview with newsmen on Wednesday, Rasheed Bolarinwa, Skye Bank’s head of corporate communication, said the bank had received a
stay of execution order filed by the anti-graft agency prior to Mrs. Jonathan’s visit to the bank.

Mr. Bolarinwa confirmed that the bank was also notified of an appeal by the EFCC against the court order.

The EFCC had told newsmen in a separate enquiry Wednesday morning that it had appealed the order and also asked for a stay of execution of the judgement.

“We have appealed the order,” Wilson Uwujaren, EFCC spokesperson, said in a telephone interview.

The EFCC had in November 2016 filed an application before the court, seeking an order to unfreeze the account.

The commission had contended that the funds were reasonably suspected to be proceeds of crime. The court granted the order but reversed it last Thursday on the grounds that she was not a party to the suit leading to the freezing order.

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