Star Orient Aviation Accuses Fina Trust MFB Of Money Laundering In Petition To CBN

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CBN Headquarters

Star Orient Aviation has petitioned the Central Bank of Nigeria CBN against Fina Trust Micro Finance Bank over alleged collusion and money laundering.

Star Orient Aviation announced that it recently audited its operational and accounting systems, an exercise that led to the resignation of the former Managing Director, Dare Osamo.

Recall that Osamo was recently arrested over another petition to the Commissioner of Police, Airport Command over an alleged misappropriation and money laundering through an Access bank account of the company.

An allegation he claimed at the time was boardroom politics which violated his fundamental human rights

According to a statement from Star Orient Aviation, several bank accounts had been opened without authorization of the company board by the former Managing Director and recent audit exercise however led to the discovery of these bank accounts which had been referred to appropriate law enforcement agencies for investigation and necessary actions.

The company claimed that in the course of direct engagement with Fina Trust Micro Finance Bank where an account was duly opened, it discovered illicit fund movements and spurious loans purportedly granted to the company without verifiable documentation.

In seeking understanding of the origin and actors of these fraudulent economic acts, the company claimed it engaged the Bank and also wrote letters to the Managing Director of FinaTrust Micro Finance Bank, who according to Star Orient ”had failed to offer any satisfactory explanation for the purported loans and the relationship of such funds with our company”.

Star Orient in its statement said that its petition to the Central Bank of Nigeria is critical to the fact that “this time that our country is inundated with issues of insecurity coupled with acts of money laundering, we are concerned about banks depositors’ funds hence this early alarm to foreclose far reaching damage to our Company and larger financial community and the economy of our country.”

It added that ”Fina Trust with its reach and reputation should actually have been in the forefront of assisting our country to improve corporate governance in our financial systems and our economy at large. This is a duty it chooses to abandon as seen in its handling of this matter”

Adedeji Popoola, MD/CEO FinaTrust Micro Finance Bank, when contacted on phone spoke through his Personal Assistant who confirmed that the case was in court.

The voice who claimed to be Popoola’s Personal Assistant said the bank has a responsibility to its stakeholders.

“I mean, we gave loan to them and it’s a very painful thing.

“We have all the offer letters and documentation. They have invited the bank not once, not twice at different police stations and it’s been thrown out.

“I mean, these are internal struggles and the bank can not be involved in that.” he said.

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