CBN-Securency Bribe Scandal: Australia Sacks Two In Polymer Note Bribe Scandal - Politics - Nairaland
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| CBN-Securency Bribe Scandal: Australia Sacks Two In Polymer Note Bribe Scandal by biina: 5:24pm On Apr 07, 2010 |
Australia sacks two in polymer note bribe scandal The N750 million polymer bank note bribery scandal involving the Central Bank of Nigeria, has claimed two casualties in Australia even as Nigerian law enforcement agencies struggle to reveal clues on the Nigerian beneficiaries of the alleged bribes. In Australia yesterday, the Reserve Bank of Australia(RBA) fired two top executives of Securency International Pty Ltd., a bank note company which is co-owned by the RBA. The officials, Myles Curtis, the former Managing Director of Securency, and John Ellery, the former Director of Commercial Services, made a final exit from the company yesterday. The duo were suspended in November 2009, following an onslaught of investigations against them by the Australian Federal Police (AFP) in connection with their role in the bribery scandal. In a media statement yesterday, the RBA said the decision was taken after an audit report prepared from a seven-month long investigation by a private company, KPMG Forensics, showed impropriety on the part of Securency’s officials, especially as concerns dealings in foreign territory. The report stated that Securency had made a total payment of about $50 million in non-commission and commission expenses to agents in foreign territories. It is believed that the payments may have been used as bribes to gain access into the market in these areas. Last year, NEXT led media reports that brought to public notice the fact that Securency had engaged in series of bribery schemes in order to promote the sale of their copyrighted plastic bank notes. The Central Bank of Nigeria (CBN), under its former governor, Chukwuma Soludo, led the reforms that brought about the adoption of polymer notes for all of Nigeria’s lower denomination bank notes. NEXT investigations also revealed that the Nigerian contract was awarded to Securency by the Nigerian Security Printing and Minting Plc, based on instructions from the Central Bank of Nigeria (CBN). The deal led to the purchase of at least 1.9 billion pieces of polymer substrates on which bank notes were printed from Securency. Shortly after the launch of the new notes last year, the news broke that Nigerian officials may have taken bribes directly or indirectly from Securency in order to facilitate the deal. Nigerian Investigations The Nigerian Police said investigations into the bribery allegations are ongoing and that it will make the report public as soon as the investigations are wrapped up. In Abuja, yesterday, the spokesman for the Nigerian Police, Emmanuel Ojukwu, said the police could not offer a time limit within which the report would be made ready.He added that Nigerians had no cause to worry about the investigations. “It is a high profile investigation and we are doing a lot of work on it. There is no time frame to it but we will let you know as soon as we are ready.” Although the Head of Corporate Affairs of the Central Bank of Nigeria (CBN), Mohammed Abdullahi, denied any knowledge of investigations into the bribery scandal, which allegedly involved CBN officials, the Economic and Financial Crimes Commission (EFCC) claimed that the anti-graft agency is working hand-in-hand with the CBN on the investigations. The Securency bribery scandal makes up one of the many bribery scandals involving top government officials and multi-national corporations; the most popular being the Halliburton and the Siemens bribery scandals. So far, no security agency in the country has prosecuted any Nigerian in connection with any of the scandals. http://234next.com/csp/cms/sites/Next/News/Metro/Politics/5548068-146/australia_sacks_two_in_polymer_note.csp |
| Re: CBN-Securency Bribe Scandal: Australia Sacks Two In Polymer Note Bribe Scandal by biina: 5:25pm On Apr 07, 2010 |
Like Haliburton, dem go soon sweep am under carpet  |
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