ALLEGED FRAUD: “Sack WEMA Bank CEO” – Group Asks CBN

BY: Mohammed O. Taoheed

The Youth for Advocacy Against Corruption (YAAC), a non-governmental forum that preaches good governance across the country, has asked the Central Bank of Nigeria to dismiss the Chief Executive Officer of WEMA Bank, Ademola Ademise, over alleged fraud without any further delay.

The charge is contained in a press release issued by Mallam Kareem Josh, the Public Secretary of the group in Zaria, Kaduna State.

He alleged that Ademise had grossly abused his office as CEO of Wema Bank and contravened many extant regulations of the CBN.

In the words of, Wema Bank, under the leadership of Ademise, covered up an illegal fraudulent scheme perpetrated by companies and proxies of the Presidential Candidate of the All Progressives Congress, Asiwaju Bola Tinubu.

Part of the press release reads: “In doing this, Mr Ademise failed in his fiduciary duties and allowed a powerful politician to use Wema Bank as a clearing house for laundered funds. ”

The forum referred to a news story dated November 23, 2020 by Peoples Gazette where bank records showed that Ocean Trust Limited, a company linked to Tinubu, shuffled billions of naira between its accounts with Wema Bank.

The online media outlet wrote about the transaction between January and June 2019 on how Ocean Trust summarily moved N16.4billion from its operations accounts into a fixed deposit account all domiciled in Wema Bank.

TrackNews Nigeria learnt that on April 3, the account received yet another N1.5billion while N800million was credited to it on April 10 and another N500million on April 17.

N1.5 billion was moved to the account on May 3 while N600million and N500million were credited to the account on May 10 and May 17 respectively.

On June 3, N1.5billion was transferred to the Ocean Trust account with another N600million on June 10 and another N500million on June 17.