Dele Momodu, an author, a politician has been fired at after he showered encomiums on the former Senate President of the eighth national assembly, Bukola Saraki.
Saraki, a two time governor, a one time Senate President has always been a controversial politician.
There have always been speculations about his role in the defunct Society Generale Bank of Nigeria(SGBN) in 2014. Should the former Senate President be blamed for the death of the bank? Here is the detail.
CBN Recapitalization.
The Central Bank of Nigeria had in 2014, informed all banks in the country that there would be recapitalization of commercial banks. It directed all banks to inject a whooping sum of ₦25billion latest by 31st December 2015, or merged, or acquired. After SGBN failed to meet up the new minimum capital base(₦25b) US41.55 million, the CBN closed it down in January 2006 for a national bank. The struggling bank immediately dragged the apex bank to court. In a judgement delivered by Justice Muritala Nyako in 2009 at a Federal High Court, the Judge ordered that the CBN should reverse the withdrawal of the operational license of the bank, saying the apex bank had over crossed its regulatory boundaries. The Judge thus described the judgement as null and void.
Other condition given to SGBN by the CBN was to look for and obtain a forbearer for 80 to 100 percent of its debts, but the same CBN only granted to SGBN on the 5th January, 2006 six days after the deadline of the new capitalization.
CBN appealed the judgement which went on another one year before it eventually returned the license to the SGBN as a regional bank. In 2012, SGBN came as Heritage Bank. It gave its old customers the opportunity to either reactivate their accounts with the bank or withdraw their savings.
Some of the stories being peddled around that people lost their lives savings to the bank is not true and if true CBN should be blamed for this. And if indeed it is again, former Nigerian mercurial midfielder and captain of the Super Eagles of Nigeria would not have kept after he made several complaints in the past.
Aside the above, Saraki is the most controversial Senate President Nigeria ever had. Nigerians believed that he is the who made it impossible for President Muhammadu Buhari “change mantra” to come into fruition. Barely one year now, many Nigerians can see that he is not to be blamed for this with the recent happenings at the national assembly.
So, it is not unexpected seeing the publisher of Ovation magazine, Chief Dele Momodu showering praises on him. “Fantastically handsome, majestically confident and brilliantly efficient!!!,” he said.
Some agreed with him while others disagreed. Let us some reactions on Momodu’s tweet.
Chef Ola @foodandlens wrote, “Fantastically handsome, majestically confident and brilliantly efficient and still a failed former governor with ZERO success as a public official. Many Nigerians are still feeling the pain from the aftermath of Societe Generale Bank fiasco. Just another failed Nigerian leader.”
Another user, Felog Group @FelogGroup, “Yes, @bukolasaraki didn’t win his second senatorial bid yet this man remain one of the finest, intelligent and bravery politicians Nigeria has ever had. Calling fine tuned medical doctor, two times governor, and a once Senate president a failure is just blindness to success.”
GBENG Ayodele, “You dressed him in exactly the garment that belongs to him. As a senate president, he conducted himself with finesse, tact, and wisdom. He remains unparalleled. He is fit for the position of a president, but unfortunately the contraption called Nigeria must be gone in jiffy.”
