Friday, September 25, 2020
Home News Politics FCMB CEO Says The Bank Wrongly Posted N573m To Magu Pastor's Account

FCMB CEO Says The Bank Wrongly Posted N573m To Magu Pastor’s Account

The Chief Executive Officer of First City Monument Bank (FCMB), says the alleged N573 million found in the account of Emmanuel Omale, the founder of Divine Hand of God Prophetic Ministries was wrongly posted.

Nuru said this on Thursday while giving evidence at the Presidential Investigative Panel probing Ibrahim Magu, the suspended acting chairman of Economic Financial Crimes Commission (EFCC).

He said:

After that report, we conducted an investigation and discovered that the lodgement which we reported to NFIU was an error.

The error was as a result of the fact that we were using a bank application called Pinnacle-7.

However, we migrated from that application to a newer version called Pinnacle-10.

Usually, when the bank intends to migrate from one application to another, we utilise weekends to carry out the exercise.

The migration involves moving all the balances of customers from the previous application to the new application.

The account of the Divine Hand Ministries was moved during that migration.

In that branch, we have 983 accounts (Banex). The credit balance in all the 983 accounts domiciled came to the aforesaid amount.

It was that balance of N573 million that was wrongly posted as an inflow into Divine Hand Ministries as reported to NFIU

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