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Jaiz, Zenith banks deny arrest of MDs

Jaiz bank and Zenith banks have denied media reports that the managing directors were arrested by the Economic and Financial Crimes Commission (EFCC). In separate…

Jaiz bank and Zenith banks have denied media reports that the managing directors were arrested by the Economic and Financial Crimes Commission (EFCC).

In separate press statements yesterday, the banks said the EFCC requested for documents related to the accounts of the Ministry of Humanitarian Affairs and Poverty Alleviation.

A statement by Jaiz bank’s Corporate Communications unit, signed by Mohammed Baba Kandi, stated that the bank was at the office of the EFCC to submit 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.  

He said the interaction was very cordial and Jaiz Bank MD immediately resumed back to his duties.

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“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.”

On the other hand, Zenith Bank stated that its Group Managing Director, Dr. Ebenezer Onyeagwu, 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,” it stated.

 

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