EFCC arrests CEOs of Zenith, Providus, Jaiz Banks for alleged fraud
Anonymous sources disclosed that the banking executives, suspected of facilitating improper diversion of public funds into private accounts, are now under EFCC scrutiny...
EFCC arrests CEOs of Zenith, Providus, Jaiz Banks for alleged fraud
The Economic and Financial Crimes Commission (EFCC) has taken into custody the Chief Executive Officers (CEOs) of Zenith, Providus, and Jaiz banks—Dr. Ebenezer Onyeagwu, Haruna Musa, and Walter Akpani respectively.
The arrests are part of a broader investigation into an embezzlement scheme allegedly linked to former and current Ministers of Humanitarian Affairs, Betta Edu and Sadiya Umar-Farouq.
Anonymous sources disclosed that the banking executives, suspected of facilitating improper diversion of public funds into private accounts, are now under EFCC scrutiny.
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The investigation centers around suspicious transactions involving substantial sums of public money, purportedly approved by Edu and Farouq using their ministerial positions.
Farouq, who previously led the Ministry of Humanitarian Affairs, faces accusations of mismanaging N37 billion allocated for the conditional cash transfer program during President Buhari’s tenure.
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The source highlighted a potential lapse in flagging suspicious activity by the banks, contributing to the brazen misappropriation of public funds.
As of press time, EFCC Spokesperson, Dele Oyewale, remains unreachable for confirmation.