Creditors have dragged the appointed liquidator for Nitel/Mtel, Otunba Olutola Senbore, before the Financial Reporting Council of Nigeria (FRCN) and the Presidential Advisory Committee Against Corruption (PACAC).
In a petition, signed by a representative of the creditors, Mr. Sebagen Henry Noboh and dated October 20, 2016, the complainants decried what they considered lack of accountability in the payment of their claims.
According to them, the Liquidator has paid only 16.5 percent of the amount stated in his offer letters to individual creditors, leaving a balance of 83.5 unaccounted for. The offer letters, dated May 12, 2015 were personally signed by the Liquidator.
They added that the 16.5 percent was paid to them in two installments of 15 percent in May 2015; and 1.5 percent in July 2016, an interval of 14 months.
At issue is the N51, 648, 643, 000 proceeds from the sale of the core assets of Nitel/Mtel to Natcom Consortium for $252.25 million by the last administration.
The Consortium had fully paid up since March 2015, but the creditors are still struggling to get their money from the Liquidator, more than 18 months after he received the money.