EFCC Arrests, Grills First Bank MD, Nnamdi Okonkwo

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The Economic and Financial Crimes Commission (EFCC) has reportedly arrested and interrogated the newly appointed Managing Director of First Bank of Nigeria (FBN) Holdings Plc, Nnamdi Okonkwo.

According to reports, Okonkwo was arrested by the anti-graft agency in connection with allegations that he helped a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, siphon public funds to the tune of $153.3 million.

Though the details of the arrest remained sketchy at press time, Okonkwo has been under the EFCC’S surveillance since 2016 over his alleged involvement in money laundering.

In 2016, EFCC named Okonkwo, alongside two others as defendants in the 14-count charge slammed against Diezani over the said misappropriated funds.

Okonkwo, who was a Managing director of Fidelity Bank at that time was alleged to have helped Diezani stash the funds in three banks and conceal the source.

Although the EFCC is yet to release any official statement on the arrest, a reliable source said the banker has been in the custody of the anti-graft agency for at least three days.

This development is coming three weeks after the board of FBN Holdings Plc announced the appointment of Okonkwo as the new GMD of the company, with effect from January 1, 2022. He will succeed U.K. Eke, who will step down on December 31, according to the company’s note to the Nigerian Exchange Limited.

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