N538 Million SCANDAL: EFCC Arrests 3 Bank Chief Executives

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Jan 10, 2024 - 10:34

N538 Million SCANDAL: EFCC Arrests 3 Bank Chief Executives

Prominent bank CEOs of Zenith, Providus, and Jaiz have been arrested by officials of the Economic and Financial Crimes Commission (EFCC).

Their arrest is said to be in connection with suspected financial misappropriation and fraud linked to disgraced Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, and her predecessor, Sadiya Umar-Farouk.

The affected CEOs are Dr. Ebenezer Onyeagwu (Zenith Bank), Haruna Musa (Jaiz Bank), and Walter Akpani (Providus Bank).

hey have been accused of facilitating the improper diversion of public funds into private accounts, and are now facing the music within the confines of EFCC custody.

The ex-minister of Humanitarian affairs during Buhari’s administration, Ms Farouq is also under investigation for allegedly mismanagement of at least N37 billion in public funds designated for the conditional cash transfer programme.

Dr Betta Edu is also under investigation by the EFCC over her alleged involvement in the transfer of N585 million meant for Payment of Grant for Vulnerable Groups in Akwa Ibom, Cross River, Lagos and Ogun States into private accounts.

N538 Million SCANDAL: EFCC Arrests 3 Bank Chief Executives

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