Misappropriation of funds: FIA registers case against top NBP officials

KARACHI:

On the directives of the Supreme Court, the Federal Investigation Agency (FIA) has registered a case against high-ranking officials of the National Bank of Pakistan for the illegal utilisation of Rs2 billion meant for staff welfare. The money was misappropriated on the pretext of planned use for cash and achievement awards.

The initial inquiry was conducted by FIA’s Commercial Banking Circle in 2009.

According to sources, the inquiry was finalised by the agency in 2010, when it sought permission to register a case.

Senior FIA authorities permitted the filing of the case in February 2011; however, another inquiry was carried out before the case was supposed to be registered because of its highly sensitive nature – 16 top ranking officials of the National Bank of Pakistan were involved in the scam.

Meanwhile, trade union leader Syed Jahangir filed an application in the Supreme Court saying that the FIA was evading registration of the case.

The SC ordered on April 30 that the case be registered against the people held responsible in the inquiry before the next hearing.

Sources added that the FIA Commercial Banking Circle registered a case against several officials of the NBP including the president of the bank at the time of misappropriation.

The case has been registered under section 209/43 of the Pakistan Penal Code and Prevention of Corruption Act.

In his application before the Supreme Court, Jahangir also accused certain FIA officials of not registering a case against NBP in exchange for getting jobs for their relatives in the bank.

Those who took up jobs in the NBP as part of the bribe include close relatives of former director-generals, an additional director on deputation and an investigation officer in FIA.

Published in The Express Tribune, May 16^th, 2012.