Audit observed that a total of N65,201,151.87 paid to three former Executive Directors of the Bank as loan for the acquisition of properties while they were still in service in October 2011 remained outstanding as at the time of audit in 2017.
The Managing Director is required to recover the sum of N65,201,151.87 from the affected Executive Directors, failing which sanctions stated in FR 3118 should apply. The Office of the Auditor-General for the Federation should be informed once the funds are recovered, and evidence of same should be provided for audit verification.
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