EFCC detains ex-Finance Minister, Yuguda

The Economic and Financial Crimes Commission (EFCC) has detained a former Minister of Finance, Amb. Bashir Yuguda, over his alleged involvement in the $115m (N23bn) bribe which was distributed by a former Minister of Petroleum Resources, Diezani Alison-Madueke.

The EFCC said in a statement that the ex-minister who is a chieftain of the Peoples Democratic Party, allegedly diverted N450m out of the money.

The money, which was distributed through Fidelity Bank Plc, was said to have been used in bribing officials of the Independent National Electoral Commission during the 2015 presidential election.

How EFCC arrests oil baron Laitan Adesanya over N23bn bribery scam

In a continuation of the probe into how the Peoples Democratic Party allegedly bribed some officials of the Independent National Electoral Commission before the 2015 presidential election, the Economic and Financial Crimes Commission has arrested an oil tycoon, Mr. Laitan Adesanya, for his alleged role in the $115m (N23bn) bribe funds.

It was learnt on Sunday that Adesanya, who is the Chief Executive Officer of Lenoil Nigeria Limited, was arrested by the EFCC in Lagos on Friday.

The anti-graft agency had, last week, arrested the Managing Director of Fidelity Bank Plc, Mr. Nnamdi Okonkwo and the bank’s Head of Operations, Mr. Martin Izuogbe.

Fidelity Bank Plc appoints Acting Managing Director

In the absence of the Managing Director/Chief Executive, Mr. Nnamdi Okonkwo, the Board of Directors of Fidelity Bank Plc has appointed the Executive Director, North, Alhaji Mohammed Lawal Balarabe, as the Acting Managing Director/Chief Executive Officer of Fidelity Bank Plc.

A statement issued this night by Fidelity bank said the appointment is “with immediate effect subject to regulatory approval.”

The anti-graft agency EFCC had, last week, arrested the Managing Director of Fidelity Bank Plc, Mr. Nnamdi Okonkwo and the bank’s Head of Operations, Mr. Martin Izuogbe.