Access Bank MD, Wigwe In EFCC Net

LAGOS JANUARY 11TH (NEWSRANGERS)-The Managing Director of Access Bank Plc, Herbert Wigwe, was on Friday arrested by operatives of the Economic and Financial Crimes Commission.

Wigwe was picked up at the Bank’s head office in Victoria Island, Lagos State.
Sources said he spent the night at the Lagos State office of the EFCC.

Although details of why the anti-graft agency arrested him are scanty for now, this magazine gathered that  it may not be unconnected with the assets of former Abia State Governor Orji Uzor Kalu.

Kalu now the Senate Majority leader is currently serving a 12 year jail term after the EFCC successfully prosecuted him over his activities as Abia Governor. The court also ordered that  his assets under his business conglomerate, SLOK, worth billions in Naira, be forfeited to the Federal Government.

While in jail, Kalu has appealed his sentence by a Federal High Court, Ikoyi, Lagos.

However, Kalu’s assets, it does seem, are not the only reason for which the EFCC arrested Wigwe.

He is suspected to also be in trouble over alleged money  laundering for former Petroleum Minister,  Deziani Allison-Madueke, as well as alleged inflation of contracts allegedly, connecting former Lagos State Governor, Akinwunmi Ambode.

However, Wigwe will be the third head of a Bank to be picked up by the EFCC in the last two weeks.

Others arrested before him included the Managing Director of Fidelity Bank Plc, Nnamdi Okonkwo, for allegedly receiving in cash $115 million into the Bank’s coffers from a former Minister of Petroleum Resources, Diezani Alison-Madueke.

Okonkwo was also allegedly personally given another cash of $26 million.

The Bank has denied complicity in the issue, saying it reported the development to the appropriate authorities.

Following the development, the Executive Director, North, of the Bank, Balarabe Musa, has been named as acting MD.

The Managing Director of Sterling Bank Plc, Yemi Adeola, was also quizzed by the EFCC during the week.

Wigwe has been granted bail and according to reliable source, will be charged to court.

Details later…..

Source: https://talkofnaija.com/ceo-of-access-bank-arrested-by-efcc/ and the Source

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Posted by on Jan 11 2020. Filed under Business, National. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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