Zenith Bank denies MD’s arrest

Zenith Bank Plc has denied claims that its Group Managing Director/Chief Executive Officer, Dr Ebenezer Onyeagwu, was arrested and held by the anti-graft agency, the Economic and Financial Crimes Commission, in relation to alleged fraud at the Ministry of Humanitarian Affairs and Poverty Alleviation.

In a statement filed with the Nigerian Exchange Limited on Wednesday, the financial institution said that the reports (not by The PUNCH)  were false and that Onyeagwu was neither arrested nor detained by the EFCC.

Part of the statement read, “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,” read part of the statement signed by its Company Secretary/General Counsel, Michael Otu.

On Tuesday, The PUNCH reported that the EFCC questioned  senior bank executives over their involvement in the alleged fraud.

A source at the anti-graft agency said, “The MDs of the banks were grilled by our interrogators at the EFCC headquarters on Tuesday. They were invited and are being probed in connection with the uncovered N44bn fraud and the N585m involving Halima Shehu and Betta Edu.

“The suspended minister and the coordinator have both given new revelations during their interrogations, and the investigation is still ongoing.”

Meanwhile, the Permanent Secretary, Federal Ministry of Humanitarian Affairs and Poverty Alleviation, Olumuyiwa Enitan, has taken over the management of the ministry as directed by President Bola Tinubu following the suspension of Betta Edu as minister.

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