HC Deb 01 August 1956 vol 557 cc143-4W
54. Mrs. White

asked the Secretary of State for the Colonies to give the full membership and terms of reference of the Commission of Inquiry into banking affairs in Eastern Nigeria.

Mr. Lennox-Boyd

The following have agreed to serveSir Stafford Foster-Sutton, Chief Justice of the Federation of Nigeria (Chairman); Sir Maxime de Comarmond, Chief Justice of the High Courts of Lagos and the Southern Cameroons; Mr. V. A. Savage, a Chief Magistrate in the Eastern Region of Nigeria; Mr. G. F. Saunders, a Senior Partner of Harmood, Banner, Lewis and Mounsey (Chartered Accountants).

The proposed terms of reference are: To inquire into and report upon—

  1. (a) allegations of improper conduct on the part of Dr. Nnamdi Azikiwe, Premier of the Eastern Region of Nigeria, in connection with the affairs of the African Continental Bank Limited;
  2. (b) the circumstances in which securities, or the proceeds of securities, belonging to the Eastern Regional Marketing Board were transferred to the Eastern Region Finance Corporation and the circumstances in which such proceeds were invested in or deposited with the African Continental Bank Limited by the Eastern Region Finance Corporation;
  3. (c) the relationship, direct or indirect, between Dr. Nnamdi Azikiwe and the African Continental Bank Limited, its Directors, shareholders or officers, at all times, whether before or after such investment or deposit as aforesaid, material to the circumstances aforesaid;
  4. (d) the relationship between the Eastern Region Finance Corporation and the African Continental Bank Limited at all material times as aforesaid;
  5. (e) the relationship between any body or organisation, corporate or unincor-porate. in which Dr. Nnamdi Azikiwe has 144 or had at any material time as aforesaid an interest, whether directly or indirectly, and the African Continental Bank Limited;
  6. (f) the use made of resources of the African Continental Bank Limited whether before or after the investments and deposits referred to in paragraph (b) were made, in so far as any such use appears to the Commission to be material for the foregoing purposes;
  7. (g) whether in respect of any of the aforesaid matters any person holding Ministerial or other public office has infringed the standards of conduct demanded of the holder of such office and if so in what respect.

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