Reps panel threaten to arrest Polaris Bank MD Innocent Ike

Failure of the managing director of Polaris Bank Innocent Ike to appear before the House of Representatives ad-hoc committee investigating the status of all recovered loots, movable and immovable assets from 2002-2020 may result in the issuance of an arrest warrant.

Mr Ike is needed to account for over $32 million unremitted to the federation account. He was, however, represented by the bank’s head of legal services during the committee’s last sitting which did not go down well with the committee.

Chairman of the committee Adejoro Adeogun said the accountant general of the federation, NNPC, Polaris, Unity, Sterling, Heritage, Keystone and Fidelity banks were invited to appear before the panel.

“You can’t stand for Polaris. We can’t stand your falsehood; your bank has been constantly failing to appear before this committee. You can’t keep government funds and you will be playing games with it. NNPC has written to us that they have not received the remittance. You can’t speak for your bank. If your bank continues with this level of unseriousness, I will issue an arrest warrant against the MD,” Adeogun said.

Polaris’ representative told the committee that the bank has tendered evidence of payment to the Central Bank of Nigeria. But Adeogun countered the claim.

The committee adjourned the hearing to October 27. It also summoned the accountant general of the federation, managing directors of Sterling, Unity, Sterling, Heritage, Keystone and Fidelity banks to appear in persons before it on October 27.