Zenith Bank has denied reports that its Group Managing Director and Chief Executive Officer, Ebenezer Onyeagwu, was arrested by the Economic and Financial Crimes Commission in connection with an ongoing investigation into alleged fraud carried out by the Federal Ministry of Humanitarian Affairs and Poverty Alleviation.
The Company Secretary, Michael Otu, in a filing to the NGX, claimed that the report was false, stressing that Onyeagwu ‘was not arrested or detained by the EFCC or any other anti-graft agency and is currently fulfilling his duties at the bank’.
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“We have become aware of inaccurate reports circulating on social media and certain news outlets alleging that Dr. Ebenezer Onyeagwu, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, was arrested and held by the EFCC on January 9, 2024, in connection with the alleged fraud at the Federal Ministry of Humanitarian Affairs and Poverty Alleviation.”
“We wish to clarify that these reports are entirely false. The Group Managing Director was not arrested or detained by the EFCC or any other anti-graft agency and is currently fulfilling his duties at the bank.”
“We are issuing this public statement to dispel the misinformation and ensure that the public and our stakeholders are accurately informed.”
“Zenith Bank remains dedicated to upholding the highest standards of banking and financial services,” noted the statement.
The Ministry of Humanitarian Affairs and Poverty Alleviation has been embroiled in corruption scandals, leading to the interrogation of its minister, Betta Edu as well as the Chief Executive Officer of the National Social Investment Programme Agency (NSIPA), Halima Shehu by anti-graft agency, EFCC. President Bola Tinubu has also suspended the duo over the allegations.
The former minister of the ministry, Sadiya Umar-Farouq has also been quizzed by the EFCC over alleged laundering of N37 billion during her tenure.
