The Senate has indicted Kaduna’s Agricultural Bank over N3.2 billion loans made to 10 vendors to purchase tractors and other equipment for allocation to end-users. The indictment was a follow-up to a 2016 report by the Federal Accounting Office reviewed by the Senate Audit Committee chaired by Senator Matthew Oologhid.
After an investigation by the commission, the bank’s management was charged with failing to pay his 10 sellers N3.2 billion out of her N3.6 billion that the federal government made available through the bank in 2015.
The Senate demanded repayment of its N3.2 billion loan from 10 unnamed vendors after the committee’s report was adopted.
