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EFCC Summons Bank CEOs In  Ongoing Probe Over  Alleged Fraud Involving Humanitarian Minister

Daud Olatunji

In a significant development, the CEOs of Zenith, Providus, and Jaiz banks—Dr. Ebenezer Onyeagwu, Haruna Musa, and Walter Akpani, respectively—were summoned by the Economic and Financial Crimes Commission (EFCC) on Tuesday.

PLATFORM TIMES gathered that the  invitation is part of an extensive investigation into an alleged embezzlement scheme connected to current and former Ministers of Humanitarian Affairs, Betta Edu and Sadiya Umar-Farouq.

Sources close to PLATFORM TIMES disclosed that the bank executives, who appeared at the EFCC headquarters in Abuja, underwent questioning regarding the suspected improper diversion of public funds into private accounts. 

Following the interrogation, the bank chiefs were reportedly released.

The EFCC is meticulously examining a complex network of transactions involving substantial amounts of public funds redirected into private accounts, purportedly sanctioned by Edu and Farouq leveraging their ministerial positions.

Former Minister Sadiya Umar-Farouq, who previously helmed the Ministry of Humanitarian Affairs in the administration of Muhammadu Buhari, faces additional allegations of mismanagement of N37 billion allocated for the conditional cash transfer program during President Buhari’s tenure.

Insiders revealed a potential failure in detecting suspicious activities by the banks, a critical responsibility mandated by anti-financial crime laws and Central Bank directives.

 This lapse is believed to have played a pivotal role in the audacious misappropriation of public funds.

As of press time, EFCC Spokesperson Dele Oyewale was unavailable to confirm the latest developments.

 The unfolding investigation raises questions about financial oversight and accountability within the banking sector.

 

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