“The cabal has taken over the NDIC. They know former President Muhammadu Buhari would be so busy and would not be able to read everything they put in the new Act 48 hours before leaving office.”
These were the words of AbdulHakeem Mobolaji Abdullateef, Chairman of the Board of Directors for Nigeria Deposit Insurance Corporation (NDIC).
The NDIC boss said former Governor of the Central Bank of Nigeria (CBN), Godwin Emifiele alongside other “cabals”, manipulated the new NDIC Act to hijack the power of the president.
According to him, the former CBN governor with his collaborators, manipulated former President Muhammadu Buhari to sign a document different from the one debated in the National Assembly.
“It will shock you to know that the new Act taken to Buhari was different from the votes and proceedings of that of the National Assembly that passed it,” he said in a video he posted on his Facebook page yesterday. “They (cabal) know that lawmakers will oppose it if they introduce the section on the floor. So they hid it and then included it to the one taken to the former president for assent.”
Buhari appointed Abdullateef to chair the NDIC on May 17, following the confirmation of the board members by the senate. Two weeks later, Buhari signed the new NDIC bill into law, repealing the NDIC Act of 2006.
But Abdullateef described the new act as an instrument of corruption.
“With the new act, they have tied the hands of the president that only the former governor of Central Bank of Nigeria (CBN) can be the Executive or Managing Director of the NDIC contrary to the free hand given to the president in the former act to appoint any competent person to head the board,” he revealed.
He contends that with the new act, the cabal had killed the career progression of 1,600 Nigerians by the action.
“NDIC will no longer be able to make depositors smile. I have thousands of petitions on my table by Nigerians who have found it difficult to claim their rights because of the deliberately frustrating processes. They are denying Nigerians of several trillions of naira.
“The former law says NDIC is free to investigate the banks, but now, the new act, which is Godwin Emefiele’s document, says you can only do that with the approval of the CBN,” he said.
According to him, “the former act allows the six geo-political zones to be represented in the board but now they have removed that in the new act and made the permanent secretary of the ministry of finance head of the board.”
“When I visited the permanent secretary on this, he told me he told them several times not to make him the head because of his busy schedule. They know this and still go ahead so they can do all the mess they want to do,” he claimed.
Abdullateef who vowed to speak “even if today is the last day I will spend in this world,” said public officials must support President Tinubu to fight corruption. “Every head of parastatals in Nigeria must stand up to let him know the rot in their own establishment.”
He said Tinubu should not act on the new NDIC Act because “it contains 35 sections smuggled in by corruption engineers.
“Section 7 took away the rights and representatives of the ministry of finance and replaced it with two directors of the CBN,” Abdullateef revealed, adding, “the President should probe why what is passed is fundamentally different from what was signed. What happened in the period in between.”
“Many of the microfinance banks that were said to have failed are liquid and viable and wanted to assist the masses. But out of the fraud of this cabal, they closed down the banks and inserted sections to take over the funds and properties,” he added.