Jaiz Bank MD Not Arrested By EFCC – Official

The management of Jaiz Bank has said its managing director only went to the Economic and Financial Crimes Commission (EFCC) to present documents at the request to the commission.

Jaiz Bank Plc was reacting to reports in the media insinuating that some banks’ managing directors, including that of Jaiz, were arrested by the EFCC with regard to the ongoing probe of the suspended minister of Humanitarian Affairs and Poverty Alleviation, Dr. Betta Edu.

In a statement issued by the bank yesterday, Jaiz Bank said its MD was in the office of the anti-graft agency to submit some documents relating to accounts opened by the Ministry of Humanitarian Affairs and Poverty Alleviation to help the agency in its investigations of the activities of the ministry.

“The interaction was very cordial and Jaiz Bank MD immediately resumed at his duties,” the bank said.
“It is instructive to state that Jaiz Bank in October 2023 was among the financial institutions that were selected by the Ministry as a participating financial institution for the various intervention programnmes of the federal government of Nigeria after a competitive bid, in line with the federal government’s procurement act.

“The Bank was formally instructed to open a project account by the Ministry but is yet to receive any funding into the account. Jaiz Bank remains committed to contributing to the growth and development of the Nigerian economy through the provision of alternative financing options in an ethical and professional manner,” it added.