- Another unnamed CEO also quizzed
By Ken Afor
The Economic and Financial Crimes Commission (EFCC) has allegedly quizzed the Chief Executive Officers (CEOs) of Providus, and Jaiz banks for their alleged involvement in financial misappropriation and fraud .
These actions are reportedly linked to the disgraced Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, as well as her predecessor, Mrs Sadiya Umar-Farouk.
Sources within the Presidency, according to a report by Peoples Gazette on Tuesday, hinted that the banking executives, who were being closely monitored following the public outrage over the unethical and inappropriate transfer of public funds into personal accounts, are currently in the custody of the EFCC.
The anti-graft agency is believed to be currently investigating several cases where significant amounts of public funds were reportedly diverted into private accounts, with Edu and Umar-Farouq allegedly involved in these illicit activities by leveraging their positions as ministers.
Ms. Farouq, who supervised the Ministry of Humanitarian Affairs, Disaster Management, and Social Development during the previous administration, is also currently being investigated for an alleged mishandling of a minimum of N37 billion public funds allocated to her then monistry for the conditional cash transfer program of former President Muhammadu Buhari.
According to sources, the transfer of a significant amount of funds into personal accounts was made possible, in part, due to a potential intentional negligence in identifying suspicious transactions. This negligence is a responsibility that banks are obligated to fulfill under different anti-financial crime legislations and directives from the Central Bank of Nigeria (CBN), as stated by the outlet.
Efforts made by this medium to source reactions regarding the detention of their CEOs were not promptly addressed by the banks. Similarly, Dele Oyewale, the spokesperson for EFCC, was not forthcoming with response, according to reports.
Meanwhile, in the midst of the controversy surrounding the suspended minister’s illegal and inappropriate request to transfer public funds into a private account, Edu claimed that she acted in line with approvals and expressed her dedication to combating corruption. She conveyed this message through a Facebook post directed towards Npower beneficiaries.
“Dear Npower Beneficiaries, I want to assure you all to remain calm and steadfast amidst the recent accusations and suspension I am facing. My heart and hands are clean, and I am committed to fighting corruption,” Edu said.
She added, “It’s essential to be aware that some individuals with impure intentions may use government machinery against you. Stay strong, and together, we will navigate through these challenges.”
It would be recalled that since President Bola Tinubu took office in May 29, 2023, numerous investigations into financial corruption have taken place, leading to the arrest and detainment of notable individuals such as the former CBN governor, Godwin Emefiele, and the immediate past EFCC chair, AbdulRasheed Bawa.
