Ecobank Embarks On Campaign To Blackmail DMO Boss

Aproko247 has reliably learnt that a campaign to destroy the hard-earned reputation of Director General of the Debt Management Office, Dr Abraham Nwankwo, was allegedly carried out by Ecobank Nigeria.

It was gathered by our correspondent, after an investigation, that Ecobank had engaged in a sponsored media propaganda against Nwankwo in a matter involving First Deep Water Discovery Limited and its debtors, which the bank is part of.

The Jubril Aku-led financial institution allegedly mapped out the plans following the refusal of the DG to take side in the issue.

Nwankwo, going by information scooped around by our correspondent, might be a victim caught in a cross fire of a fight among some powerful parties in the course of his duties.

The DMO is an agency saddled with the responsibility for issuing Sovereign Debt Notes for subsidy payments to oil marketers, which has made it the focus of court actions.

Some suits are presently at the Federal High Court involving First Deep Water Discovery and other creditors, including Ecobank Nigeria Limited, who have approached the court to recover their monies from the First Deep Water Discovery.

This magazine gathered that the monies for which Ecobank is seeking the court to commit the DG of DMO to prison is the subject of dispute between the following parties who all have a court order/judgment demanding the DMO to pay the same money to them.

The company battling First Deep Water Discovery Limited in court include:  First Bank of Nigeria PLC, Stallionaire Energy Limited, Olive Energy Limited, Bargamo Shipping Limited, Sulphur Stream Limited, Faiceck Petroleum Limited.

We also gathered that the DMO has filed a response to the committal proceeding in the Ecobank Nigeria Limited suit and that the court has adjourned for hearing on May 13, 2015.

To this end, this matter is complicated since there are many claimants for the same monies, as such any suggestions and inferences in the same respect is subjudice.

From the play out, it appears that the DMO is being blackmailed to favour Ecobank at the expense of the other parties and the DMO, hence, the headlong smear campaign against the DG.

Meanwhile, efforts to get the reaction of Ecobank on this matter were futile.