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EFCC denies arresting Zenith, Jaiz Banks MDs

EFCC denies arresting Zenith, Jaiz Banks MDs

Zenith Bank Plc and Jaiz Bank Plc have dismissed reports that their Group Managing Director, GMD, Ebenezer Onyeagwu, and Managing Director, MD, Mr. Haruna Musa respectively were arrested by the Economic and Financial Crimes Commission, EFCC.
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.

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.”

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Similarly, Jaiz Bank Plc in a statement in Abuja yesterday, clarified that the anti-graft agency only requested some documents for its ongoing investigation on the activities of the Federal Ministry of Humanitarian Affairs and Poverty Alleviation.

According to the bank, the MD only went to the EFCC, on Tuesday, to submit the said documents, had an interaction with the officials and promptly returned to his office.

Jaiz Bank described as untrue, news items on some media platforms, insinuating that the MD was arrested.

It said, “The bank would like to place on record that yesterday Jaiz Bank at the request of the EFCC has submitted some documents relating to accounts opened by the Ministry of Humanitarian Affairs and Poverty Alleviation to help the agency in its investigations of the activities of the Ministry. The interaction was very cordial and Jaiz Bank MD immediately resumed back to his duties.

“It’s instructive to state that Jaiz Bank in October 2023 was among the financial institutions that were selected by the Ministry as a participating financial institution for the various intervention programs of the Federal Government of Nigeria after a competitive bid, in line with the FGN procurement act.

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