The Chief Executive Officers (CEOs) of Jaiz bank, Providus Bank, and Zenith bank on Tuesday were invited by the Economic and Financial Crimes Commission (EFCC).
BrandSpur Nigeria understads that this is amid a sweeping investigation into an embezzlement scheme linked to current and former Ministers of Humanitarian Affairs, Betta Edu and Sadiya Umar-Farouq.
Sources told say the bank chiefs handed over documents of accounts operated by the humanitarian affairs ministry to the EFCC to strengthen the ongoing investigation.
The bank chiefs invited are are Dr. Ebenezer Onyeagwu (Zenith Bank), Haruna Musa (Jaiz Bank), and Walter Akpani (Providus Bank).
BrandSpur Nigeria understands that the bank chiefs were at EFCC headquarters in Abuja on Tuesday, quizzed over the improper diversion of public funds into private accounts.
The bank chiefs were released after meeting with EFCC interrogators.
The EFCC is dissecting a web of suspicious transactions involving hefty sums of public money funnelled into private accounts, allegedly approved by Edu and Farouq leveraging their ministerial positions.
Farouq, who led the Ministry of Humanitarian Affairs under the previous administration of Muhammadu Buhari, is additionally accused of mismanagement of N37 billion earmarked for the conditional cash transfer program during President Buhari’s tenure.
The source revealed that a potential deliberate lapse in flagging suspicious activity by the banks – a crucial responsibility mandated by anti-financial crime laws and Central Bank directives – played a critical role in the brazen misappropriation of public funds.
EFCC Spokesperson, Dele Oyewale was not reachable to confirm the development as at press time.
