EFCC Probes Zenith,Providus,Jaiz Bank CEOs in Connection to ₦44 Billion Fraud in Humanitarian Ministry
The Economic and Financial Crimes Commission (EFCC) has initiated investigations into the alleged ₦44 billion fraud uncovered in the Ministry of Humanitarian Affairs and Poverty Alleviation.
The Chief Executive Officers and Managing Directors of Zenith Bank, Providus Bank, and Jaiz Bank are currently under interrogation at the EFCC headquarters in Jabi, Abuja.
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The focus of the probe revolves around the suspended Minister of Humanitarian Affairs, Betta Edu, who is undergoing questioning regarding a ₦585 million scandal. Simultaneously, Halima Shehu, the Coordinator and Chief Executive Officer of the National Social Investment Programme Agency, is also facing scrutiny over an alleged ₦44 billion fraud.
An EFCC source confirmed that the bank executives are being questioned in connection with the fraud, stating, “The CEOs and MDs of Zenith Bank, Providus Bank, and Jaiz Bank are currently being grilled by our interrogators here at the headquarters.” The investigation aims to unravel the intricate details of the ₦44.5 billion fraud involving Edu and Shehu.
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President Bola Tinubu suspended Betta Edu on Monday amid allegations of a ₦585 million cash transfer saga. The EFCC had previously ordered a comprehensive investigation into Edu’s activities, leading to her subsequent invitation by the anti-graft agency.
Notably, Sadiya Farouq, Edu’s predecessor, faced EFCC interrogators on Monday over allegations of laundering ₦37.1 billion during her tenure as a minister in former President Muhammadu Buhari’s cabinet.
Halima Shehu, the NSIPA Coordinator, was arrested in connection with the ₦44 billion money laundering case and has been directed to report to the EFCC daily since her release last Wednesday. The funds in question were suspiciously transferred from NSIPA’s accounts into private and corporate accounts linked to individuals acting as fronts.
As the investigations unfold, both Betta Edu and Halima Shehu have made new revelations during their interrogations, adding layers of complexity to the ongoing inquiry. The EFCC is committed to unraveling the extent of the alleged financial misconduct within the Ministry of Humanitarian Affairs and Poverty Alleviation.