A manhunt has commenced for Kennedy Izuagbe former Managing Director of Societe Generale Bank SGBN and an ally of Senate President Bukola Saraki over alleged fraud of N3.6 billion. He is said to have conspired with other to perpetrate the fraud during his days as Director of SGBN.
The Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, said in a statement on Thursday said that Izuagbe, a 45-year-old banker, was declared wanted because he could not be reached by the anti-graft agency.
Uwujaren said that Izuagbe, a native of Iviukhua village, near Agenebode, in the Etsako Local Government Area of Edo State had fled the country.
“Izuagbe, 45, who is being investigated in a case of conspiracy and money laundering to the tune of over N3.6 bn, has gone into hiding and all efforts to reach him have proved abortive.
“He is linked to the several shady deals and gross financial misconducts that took place in the bank, in which several millions of Naira were granted as loan without due diligence.
Similarly the Code of Conduct Bureau CCB has dragged the Senate President Bukola Saraki to court claiming he gave a false declaration of assets in 2003. Some of the assets in question are No 42 Gerard Road, Ikoyi and earning N110, 000,000.00 per annum at a time the said property was under construction; failure to declare N375m GTB loan converted to 1.5m Pound Sterling and used to purchase property in London; operating a foreign bank account; transfer of $3.4m from GTB to foreign bank account during his tenure as governor and failure to declare leasehold interest in No. 42, Remi Fani-Kayode Street, Ikeja. The former Governor of Kwara state and Senate President has dragged the CCB to court in a bid to stop his arraignment for false declaration of assets today.
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