According to online publication made available by shybellmediaonline.blogspot.com, report has it that, there are many manipulation of funds going on at Sterling Bank Plc, which can't be control or avert at the moment. Here is the report below...
A lot of
people make the mistake of thinking that word fraud, corruption, embezzlement
and crime was popularized by Nigerian politicians like the James Ibori, D.S.P.
Alameseigha, to mention just a few, but what about banks. Shybellmediaonline.blogspot.com
brings you a shocking revelation in Sterling bank. How the bank allegedly
dumped a client of over N274, 049, 374.49.
Hotel Excel
Limited is a limited liability company duly incorporated in Nigeria as
hoteliers and having its principal place of business at Km 1, Refinery Road
Effurun, Warri, Delta State of Nigeria.
While,
Sterling Bank Plc is a Public Liability Company duly registered and licensed in
Nigeria as a commercial bank and having its registered office at 20, Marina,
Lagos with branches in
several cities in Nigeria including Warri, Delta State.
However, Hotel
Excel Limited maintained three current accounts with Warri Branch of the
Sterling Bank. The said accounts were opened and operated with Equitorial Trust
Limited but on Friday 12th August 2011 the said Equitorial Trust
Bank merged with and became a part of the Sterling Bank Plc.
Prior to the merger of the Sterling Bank
and Equitorial Bank Limited, Hotel Excel was a customer of Warri Delta State
branch of Equitorial Trust Bank Limited (Now Sterling Bank).
Hotel Excel maintained three current
accounts namely; Account number 0310008901, 0310009016 and 0310009087 with
Sterling Bank Plc.
In the course of its banking relationship
with Sterling Bank Plc, Hotel Excel was granted credit overdraft facilities on
its aforesaid current accounts which it had since repaid in full.
Hotel Excel has made several lodgments
totaling N1,916,368,852.19 into its account No. 0310008901 and N147, 795.88.80
into its account No. 0310009087 making a total of N2,064,164,735.99 (Two
Billion, Sixty-four Million, one hundred and sixty-four thousand, seven hundred
and thirty-five naira, ninety-nine kobo)
Surprisingly Sterling Bank Plc recently
began to inundate Hotel Excel with letters of demand claiming that it is
indebted to Sterling Bank as successors-in title of the defunct Equitorial
Trust Bank.
Hotel Excel avers that Sterling Bank was
in the habit of not sending to it a periodic statement of its account as
contracted. It was not until very recently and after concerted demands by Hotel
Excel’s chairman that Sterling Bank submitted a comprehensive statement on each
of its three accounts.
However, Hotel Excel was disappointed and
dissatisfied with the statement of Account delivered to it by Sterling Bank and
commissioned an audit of its financial transactions with Sterling Bank.
Hotel Excel’s chairman again requested
for Sterling Bank’s comprehensive statement of its account from inception and
disclosed that it was required for audit purposes which Sterling Bank obliged.
Unfortunately, it became clear to Hotel
Excel from a cursory examination of the two sets of statements of account that
they were violently conflicting, contained bloated charges and fraudulent
entries in the account.
Here are the
particulars of fraudulent entries
·
The first statement on Hotel Excel’s account No. 0310009018 prepared by
Sterling Bank on 22nd Dec 2000, commenced on 01-01-04 with Nill
balance and the first transaction therein was a credit lodgment of
N5,286,721.08 i.e four (4) years later But the second statement of the same
account prepared also by Sterling Bank on Mar 2012 commenced with a Nil balance
with a first transaction being an inwards transfer of N6,546,057.68 on 23-02-04
and contains robust transactions spanning over a total of 197 pages between
01-01-04 to 01-01-08. Hotel Excel avers that this was a conscious and
calculated effort by Sterling Bank to shield from the account holder, the
several fraudulent entries into its account.
·
The first statement of Accounts No. 03100090018 prepared by Sterling
Bank on 22nd Dec 2011 contained only seven entries for the month of
April 2009 the last of which was on 07.04.09 and showed a credit balance of
N140,522,120.52 as at 07.04.09 BUT the second statement of the same account
prepared also by Sterling Bank on 29 Mar 2012 contained 28 entries for the same
month of April 2009, the last of which was 30.04.09 and showed a credit balance
of only N1,9..,560.10
The above are
just a very few random samples of the fraudulent false accounting practiced by
Sterling Bank over Hotel Excel’s accounts with it.
Hotel Excel avers that Sterling Bank is
vicariously liable for the found perpetrated by its officials and staff who
have tempered in various ways with his accounts.
However, following the spot findings of
its auditors, Hotel Excel commissioned a film of forensic investigators to
scrutinize its said three accounts with Sterling Bank and the outcome wasn’t
pleasant. The said forensic investigators disclosed that Sterling Bank arbitrarily
charged excessive interests and other charges in the total sum of
N274,049,374.49 (two hundred and seventy four million, forty nine thousand,
three hundred and seventy-four Naira, forty nine kobo on Hotel Excel accounts
in gross contravention of the Central Bank of Nigeria Guidelines and Monetary
Policies.
By the conduct of Sterling Bank Plc,
Hotel Excel was deprived of the use of monies lodged in her account which
should have been available to it as credit balances but was wrongly applied and
dissipated by Sterling Bank to the imaginary debt.
Despite the fact that Hotel Excel had
fully liquidated the loan granted, Sterling Bank classified the imaginary debt of
Hotel Excel as a non-performing loan asset and purportedly sold same to Assets
Management Corporation of Nigeria.
Find
more document to prove this story after this cut…
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