Magu: FCMB clarifies position on N573m transfer

First City Monument Bank (FCMB) has refuted reports of an alleged deposit of N573 million into the account of an associate of the suspended chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu.

Magu was suspended last month by President Muhammadu Buhari who had ordered a probe on him as the acting chairman of the anti-graft agency.

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There were reports alleging that the MD of FCMB, Adam Nuru, told the probe panel that N573m was lodged into the account of Godwin Omale, a pastor, in error.

But FCMB’s spokesman, Diran Olojo, yesterday said there was no such deposit at any time into the said account.

FCMB said what happened was a system error which reflected in the Nigeria Financial Intelligence Unit (NFIU) records but did not result into any credit into the account.