A top executive at one of Nigeria’s largest banks has been held by anti-graft investigators over a series of transactions his bank allegedly carried out on behalf of one of Nigeria’s largest oil-producing states, Rivers, PREMIUM TIMES learnt on Sunday.
The Economic and Financial Crimes Commission is alleging that the transactions, at least N117 billion in value, are suspicious in nature but that Zenith failed to report them as demanded by law.
Insiders at the EFCC and Zenith Bank said Mr. Amangbo was held to explain why his bank failed to document the withdrawals, allegedly done over a three-year period, as suspicious.
Mr Amangbo was first invited for questioning on August 23, sources said. But he was freed on administrative bail and asked to return on August 24 for further interrogation.
He honoured the arrangement, turning himself in again at the EFCC headquarters in Abuja.
Our sources said the top banker was however not allowed to return home on Friday.
“He was still being quizzed as at 4 p.m. on Sunday,” one source said.
At least four other officials are being sought in the investigation, according to reports.
The suspects considered to be at large include Fubara Similari, whom investigators identified as the director of finance and account at the Government House in Port Harcourt. The Government House cashier is also said to be on the run.
Officials were unable to immediately provide further information about the investigation to PREMIUM TIMES Sunday night.