EFCC arrests and detains MD of Zenith Bank over N117bn

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From Juliet Odey, Abuja
The MD of Zenith Bank, Peter Amangbo has been held by anti-graft investigators over a series of transactions his bank allegedly carried out on behalf of Rivers State.
The Economic and Financial Crimes Commission is alleging that the transactions, at least N117 billion in value, are suspicious in nature but that Zenith failed to report them as demanded by law.
Amangbo was first invited for questioning on August 23, but he was freed on administrative bail and asked to return on August 24 for further interrogation. He honoured the arrangement, turning himself in again at the EFCC headquarters in Abuja, he was however not allowed to return home on Friday.
Governor Nyesom Wike of Rivers slammed the investigation as “political witch-hunt” saying he would continue to prevent state officials from appearing before the EFCC for questioning.
“No government official will appear before the EFCC,” Nyesom said an Appeal Court judgement in 2007 prohibited the EFCC from prying into Rivers State coffers, a ruling he claimed had not been appealed. They filed for leave to appeal the judgment at the Court of Appeal. Until they set aside the judgment, we will not come.”

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