DON'T PANIC: CBN assures public over EFCC clampdown on banks

Central Bank of Nigeria, (CBN) has assured the banking public and indeed financial stakeholders not to panic over the on-going investigations of some financial transactions in some banks by the Economic and Financial Crimes Commission (EFCC).

The apex bank noted that such exercise is aimed at strengthening the financial sector and the economy, while assuring that all the banks would continue to do their normal businesses and meet their obligations.

The CBN, in its latest statement signed by the Acting Director, Corporate Communications, Isaac Okorafor, said that it was fully aware and was indeed a part of the on-going investigations of certain financial transactions in some banks by law enforcement authorities, noting that it was also carrying out its own special examinations and investigations to ascertain the veracity of some allegations, as well as the extent and persons that might be involved in such activities.

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.