Zenith Bank, Jaiz Debunk Alleged Arrest of Their MDs by EFCC
Nume Ekeghe
Zenith Bank Plc has rejected news making the rounds on social media and some online news outlets alleging the arrest of its Group Managing Director/Chief Executive Officer, Dr. Ebenezer Onyeagwu, by the Economic and Financial Crimes Commission (EFCC) over the matter involving the suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu.
Similarly, Jaiz Bank in reaction to news published by some online newspapers explained that its Managing Director/Chief Executive Officer was never arrested over the matter.
On Tuesday, news had circulated that the anti-graft agency had arrested the executives of Zenith Bank, Jaiz and Providus Bank, concerning the ongoing investigation of Edu.
However, Zenith Bank in a statement signed by its Company Secretary/General Counsel, Michael Otu, vehemently debunked the news as false, stating that the bank was dedicated to upholding the highest standards of banking and financial services
Otu stated: “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.
“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.Zenith Bank remains dedicated to upholding the highest standards of banking and financial services.”
Relatedly, Jaiz Bank stated that its officials honored an invitation by the EFCC to provide documents to aid EFCC’s investigation of the Ministry.
The bank in a statement signed by its management noted last year, that they were selected by the Ministry as a participating financial institution for the various intervention programs of the federal government, but was yet to receive any funds into its bank from the Ministry.
It stated: “The attention of Jaiz Bank Plc has been drawn to headlines in some sections of the media particularly social media platforms insinuating that some banks’ MDs including that of Jaiz have been arrested by the EFCC.
“The bank would like to place on record that 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.
“The Bank was formerly instructed to open a project account by the Ministry but is yet to receive any funding into the account.”
Jaiz Bank further added that it remained committed to contributing to the growth and development of the Nigerian economy through the provision of alternative financing options in an ethical and professional manner.
