…Acting Obioha Otti as Acting President
The Association of Mobile Money and Bank Agents in Nigeria, AMMBAN, has suspended its president, Mr. Fasasi Sarafadeen Atanda over the management of the association’s funds.
Also, AMMBAN petitioned the Assistant Inspector General (AIG) of Police, Zone 2 Command Headquarter, Onikan, Lagos, asking him to investigate the activities of its suspended president over allegations of mismanagement its funds.
In the petition dated November 4, 2024 copies of which were sent to AMMBAN board members, the association stated that the president has been suspended to pave the way for an unfettered investigation.
In the five-paragraph petition sent to the AIG, members of AMMBAN alleged that the suspended chairman had been using the association’s funds for his personal purpose.
Furthermore, Mr. Atanda was alleged to have failed to account for the monies received from members despite several engagements.
“It has come to our attention that the President has been receiving Association funds directly into his personal/corporate bank account, an action directly violating Article 23.2 of the Association Bye-Laws, which mandates that all funds must be maintained in the Association’s official accounts
“This deliberate disregard for the established financial protocols of AMMBAN constitutes a serious mismanagement of Association resources and poses substantial risks to financial accountability,” the petition read in part.
In the petition, which was received Monday, November 04, 2024 by the police, AMMBAN outlined how the suspended chairman used his office to enrich himself.
The President was alleged to have fraudulently diverted monies, about N65 million, into his personal company’s account (Partner De Ecosystem) to organise an event that would benefit the association.
“However, to date, no trace of accountability from the president.
“This blatant misrepresentation is a significant breach of trust and accountability to the members and stakeholders of AMMBAN. Such actions are incompatible with the fiduciary duties of transparency and integrity that the President is obligated to uphold,” the petition read.
The BoT urged the police to look beyond the fraud allegation, and also investigate the several breach of extant laws and regulation, such as CAMA, allegedly perpetrated by the suspended chairmen.
The association concluded its petition by urging the police to expedite action in investigating Mr. Atanda, in order to prevent unsuspecting members of the association from falling prey to his schemes since he is still parading himself as the president of AMMBAN.
But Mr. Atanda in an interview with this paper denied the allegation of diverting money. His words: “I didn’t divert any association funds and I challenged them to provide the sender of the alleged money to provide invoice processed by his finance department.
“This is a case of victimisation by their sponsor to stop the ongoing task force which I championed.
“The said service provider had met with both the BOT and the NEC to stage a coup by framing up the story. I will provide my facts at the court.”
Meanwhile, Atanda has gone to court to challenge his removal from office by filing an interlocutory injunction at the Oyo state High Court, Ibadan, in suit number 1/1290/2024.
In the suit, he is seeking for an interlocutory injunction that the court should not give effect to the association’s board meeting of October 30, 2024 through which he was alleged to have been removed from office.
But AMMBAN has appointed Dr. Obioha Otti, former Vice President, as Acting President.
Among his first remarks since his appointment, Dr Otti assured members of AMMBAN of the stability of their association, and that he would work round the clock to ensure that the association moves forward as one indivisible and big family.
“I want to reassure all AMMBAN members that everything is under control and we are working round the clock to ensure that the association is moving forward as one indivisible and big family,” he said.