On January 9, 2024, there were media reports that the
Economic and Financial Crimes Commission (EFCC) detained the CEOs of Zenith,
Jaiz and Providus Banks.
Some other reports said the top executives were at the EFCC
to present account documents of the humanitarian affairs and poverty
alleviation ministry.
But in a statement on Wednesday, Michael Otu, Zenith Bank
company secretary and general counsel, said the reports are “entirely false and
inaccurate”.
“We have become aware of inaccurate reports circulating on
social media and certain news outlets alleging that Dr. Ebenezer Onyeagwu, the
group managing director/chief executive officer of Zenith Bank Plc, was
arrested and held by the EFCC on January 9, 2024, in connection with an alleged
fraud at the Federal Ministry of Humanitarian Affairs and Poverty Alleviation,”
Otu said.
“We wish to clarify that these reports are entirely false.
The group managing director was not arrested or detained by the EFCC or any
other anti-graft agency and is currently fulfilling his duties at the bank.
“We are issuing this public statement to dispel the
misinformation and ensure that the public and our stakeholders are accurately
informed.”
The ministry of humanitarian affairs and poverty alleviation
has been under probe over fraudulent transactions and misappropriation of
funds.
Betta Edu, the minister of the ministry, was suspended by
President Bola Tinubu on January 8 after she came under fire over a memo that
surfaced wherein she asked Oluwatoyin Madein, accountant-general of the
federation, to transfer the sum of N585 million to a private account.
In her defence, the minister said the payment instruction
followed due process, even though the accountant-general of the federation said
she did not carry out the minister’s request because no bulk money “is supposed
to be made to an individual’s account in the name of Project Accountant”.
Edu, who is under investigation by the EFCC. had also
approved the payment of flight fares for staff to Kogi, even though the
north-central state has no airport to its name.
Meanwhile, on December 26, 2023, Sadiya Umar Farouq, former
minister of humanitarian affairs, disaster management, and social development,
denied link to a N37 billion fraud.
Farouq has also been grilled for alleged fraud and financial
misappropriation charges.
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