Managing director of First City Monument Bank (FCMB), Adam Nuru has told the Ayo-salami led panel probing the allegations against Magu that the bank made an error of posting N573 million into the church account of Emmanuel Omale.
The embattled former EFCC boss, Magu, had earlier been accused of using Omale, founder of the Divine Hand of God Prophetic Ministry, to launder funds abroad.
These Allegations were levelled against him by The Presidential Committee on Audit of Recovered Assets (PCARA).
The bank CEO was invited by the panel, as he testified saying the bank just discovered the mistake upon invitation by the committee four years after the money was posted.
“On January 16, 2016, we made a return to NFIU which indicated that there was a transaction of an inflow of well over N573million. (N573,228,40),” the bank MD said.
“This return was said to be in favour of Divine Hand of God Prophetic Ministries Account No 1486743019.
“After that report, we conducted an investigation and discovered that the lodgement which we reported to NFIU was an error.
“The error was as a result of the fact that we were using a bank application called Pinnacle-7. However, we migrated from that application to a newer version called Pinnacle-10.
“Usually, when the bank intends to migrate from one application to another, we utilize weekends to carry out the exercise. The migration involves moving all the balances of customers from the previous application to the new application. The account of the Divine Hand Ministries was moved during that migration.
“It was that balance of N573million that was wrongly posted as an inflow into Divine Hand Ministries as reported to NFIU. This error was not peculiar to Divine Hand of God Prophetic Ministries alone but was also ascribed to 27 other accounts.”
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