Ministry of Humanitarian Affairs, Disaster Management and Social Development of Nigeria - Government Ministry, EFCC did Not Arrest Our Chief Executive Officer, According To Zenith Bank

Zenith Bank has refuted reports that Mr. Ebenezer Onyeagwu, the bank's Chief Executive Officer, was arrested in connection with alleged misappropriation of funds at the Ministry of Humanitarian Affairs, Disaster Management and Social Development of Nigeria - Government Ministry.

On Tuesday, there were reports that the Economic and Financial Crimes Commission (EFCC) detained the CEOs of Zenith, Jaiz and Providus Banks.

Some other reports said the top executives were at the anti-graft agency headquarters to give account documents of the Ministry of Humanitarian Affairs, Disaster Management and Social Development of Nigeria - Government Ministry.

Contrary to this, Mr Michael Otu, Zenith Bank's secretary and general counsel, said the reports are “entirely not true and not accurate”.

Mr Michael Otu said "We have become aware of inaccurate reports circulating online and certain news agencies alleging that Dr. Ebenezer Onyeagwu, the group managing director/chief executive officer of Zenith Bank Plc, was arrested and held by the anti-graft agency on Tuesday January 9, 2024, in connection with an alleged fraud at the Ministry of Humanitarian Affairs, Disaster Management and Social Development of Nigeria - Government Ministry."

“We wish to clarify that these reports are entirely not true. The CEO was not arrested or detained by the EFCC or any other anti-graft agency and is currently fulfilling his roles at the bank.

“We are issuing this public statement to refute the misinformation and ensure that the public and our stakeholders are accurately informed.”

The Ministry of Humanitarian Affairs, Disaster Management and Social Development of Nigeria - Government Ministry has been under investigation over fraudulent transactions and misappropriation of funds.

Dr. Betta Edu, the minister of the Ministry of Humanitarian Affairs, Disaster Management and Social Development of Nigeria - Government Ministry, was suspended by President Bola Tinubu on January 8 after she came under fire over a leaked memo wherein she requested that Oluwatoyin Madein, accountant-general of the federation, pay the sum of ₦585,000,000 to a persoanal account.

Dr. Betta Edu claimed the payment instruction followed due process, even though the accountant-general of the federation said she did not carry out the minister’s request because no bulk money “is supposed to be made to a personal account in the name of Project Accountant”.

Dr. Betta Edu, who is being probed by the anti-graft agency, had also endorsed the payment of flight fares for staff to Kogi, even though the north-central state has no airport.