EFCC: Bank CEOs regain freedom

THE Economic and Financial Crimes Commission (EFCC) has released the chief executive officers of two Nigerian banks arrested in connection with ongoing investigations regarding funds allegedly released for the prosecution of the 2015 re-­election bid of former President Goodluck Jonathan. The two bank CEOs regained their freedom in the early hours of yesterday, on bail, even as the anti graft agency indicated that investigations were still ongoing.

The EFCC had on Wednesday arrested the chief executive of Sterling Bank, Yemi Adeola, in the course of its investigation of former Petroleum Minister, Diezani Alison-Madueke, who is  alleged to have created a slush fund domiciled in the two banks. On his part, Managing  Director of Access Bank, Herbert Wigwe, was arrested on Friday following the commission’s raid at the bank’s headquarters in Lagos.

It is not yet clear how the release of the banks’ CEOs was brokered though it was speculated that their release came on the heels of heavy handed intervention of some eminent Nigerians who reportedly mounted pressure on EFCC, to grant the bank chiefs bail. The conditions under which they were set free are still shrouded in secrecy.

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