Betta Edu fraud allegations: Zenith Bank denies GMD’s arrest by EFCC
The management of Zenith Bank Plc, on Wednesday debunked the arrest of its Group Managing Director, Dr. Ebenezer Onyeagwu by the Economic and Financial Crimes Commission (EFCC).
The Chief Executive Officers (CEOs) of Zenith, Providus, and Jaiz banks were invited by the Commission amid a sweeping investigation into an embezzlement scheme linked to current and former Ministers of Humanitarian Affairs, Betta Edu and Sadiya Umar-Farouq.
Sources had alleged that 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: Dr. Ebenezer Onyeagwu (Zenith Bank), Haruna Musa (Jaiz Bank), and Walter Akpani (Providus Bank).
Responding, the Company Secretary/General Counsel, Zenith Bank, Mr. Michael Otu in a signed statement on the Nigerian Exchange Limited (NGX), said the financial institution is aware of inaccurate reports circulating on social media and certain news outlets alleging that Dr. Onyeagwu, the group managing director/chief executive officer was arrested and held by the EFCC on January 9, 2024 in connection with the alleged fraud at the federal ministry of humanitarian Affairs and poverty alleviation.
According to him, “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.”
He added that Zenith bank remains dedicated to upholding the highest standards of banking and financial services.
