By Samuel Ogidan
Alleged fraud and cold war within the top management of Bank of Agriculture (BoA) have become a threat to the establishment.
Blueprint gathered that contracts had been awarded to contractors by top management of the bank without execution even though funds had been released to the contractors.
The cause of the cold war, a source at the bank said, was the disagreement and suspicious between the rank and file of the top management over how funds meant for contracts had been used without commensurate result and fingers were being pointing to one direction.
The source revealed that a popular media company based in Abuja was given outdoor campaign contract to produce wall drops, bill boards and roll-up banners at the cost of N41.2 million, the contact period lapsed in November 2011, without execution despite released of funds.
The source further said: “N48.7 million was advanced to two other companies owned by close associate of a top management for publicity and rebranding through television and radio programmes, unfortunately, the contract was not executed and money was not refunded.
“These funds were meant for agric intervention to meet up with the President Goodluck Transformation Agenda. There have been outcries by the Cassava Grower Association (CGA), Cassava Bread Development Fund (CBDF) and the Master Bakers and Caterer Association of Nigeria. The federal government deliberate policy of 20 percent cassava must be component of our bread has become a farce and elusive in the face of misappropriation, misapplication and embezzlement of funds.”
The source alleged that “most of these funds were being fixed in some banks which are traceable.”
The source further disclosed that the tenure of the Managing Director (MD) would be expiring September this year; “this is even as he expressed concern that despite the huge outcry against what is happening in the BoA, the EFCC, ICPC and other anti corruption agencies have not done anything to look into the situation, even though it threatens the Transformation Agenda of Mr. President to revolutionise the agriculture sector.”
