April 23, 2025

….Urges president to create Special Funds account to alleviate suffering of masses

Former People”s Democratic Party, PDP, Deputy National Chairman, Olabode George has advised President Tinubu to create a Special Fund account where Managing Directors of banks will deposit, at least, N20 billion annually to alleviate the suffering of the masses.

George in a statement on Wednesday, addressing the current economic challenges, alleged that bankers were part of the professionals who created economic hardship in the country.

George queried the source of the billions of naira declared by banks as profits yearly.

“There is what is called round-tripping. There is also insider abuse, hidden and fraudulent charges. All these are targeted at Nigerians.

“You can’t see a bank MD in the U.S., United Kingdom, Canada, Germany, United Arab Emirates in private jets every other day.

“Here, our Bank MDs not only charter private jets but own jets. Where are they getting the money from to maintain this type of luxury and lifestyle?

“The government must look into this. Now that Tinubu is trying to lessen the burden of Nigerians, these bank MDs should be made to pay not less than N20 billion each into this special intervention fund account.”