Audit observed, from the examination of the Bank’s Statement of Account No. 5600000648 with Heritage Bank Plc and Statement of Account No. 0009238340 with Sterling Bank Plc that a total of N2,454,086,622.04 were transferred to unknown beneficiary(s).
The management of the Bank did not disclose the unidentified beneficiary(s) as at the time of writing this report.
The Managing Director is required to account for the sum N2,454,086,622.04 and disclose the recipients of the funds, otherwise, sanctions stated in FR 3115 should apply.
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