Connect with us

Business

Arrest of banks’ executives: CBN steps in

Published

on

The Central Bank of Nigeria (CBN) has commenced investigation of deposit money banks over alleged malfeasance following manhunt of banks’ chief executives by the Economic and Financial Crimes Commission (EFCC).

Confirming this development on Monday, the apex in a statement by the Acting Director Corporate Communications of the CBN Mr. Isaac Okoroafor said, it is “part of the on-going investigations of certain financial transactions in some banks by law enforcement authorities.”

Speaking further, he said the CBN is “also carrying out its own special examinations and investigations to ascertain the veracity of some allegations, as well as the extent and persons that may be involved in such activities.”

Read also: EFCC storms Access Bank’s head office, arrests MD

He however assured customers and stakeholders that it would not allow the banking system to be used as a conduit for any illicit transactions, stressing that “financial system stability remains a priority” of the CBN.

The CBN investigations, he noted:  “Are routine and only relate to isolated transactions, therefore the safety and soundness of the Nigerian banking industry remain strong.”

It may be recalled that the EFCC in the last one week had picked up some bank CEOs for interrogation on alleged questionable financial transactions executed under the past administration.

 

 

RipplesNigeria …without borders, without fears

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now