Our MD Was Neither Detained Nor Arrested By EFCC - Zenith Bank

Zenith Bank Plc has refuted reports that its Group Managing Director/Chief Executive Officer (CEO), Dr Ebenezer Onyeagwu, has been arrested by the Economic and Financial Crimes Commission (EFCC).

The statement followed some media (not THEWILL) reports on Tuesday, that the chief executives of three banks including Zenith, Providus and Jaiz banks were arrested in connection with an alleged fraud at the Federal Ministry of Humanitarian Affairs and Poverty Alleviation.

THEWILL had earlier reported that the bank chiefs were at the Abuja Headquarters of the EFCC, on the request of the anti-graft agency, to assist it with bank documents for investigation into the financial impropriety rocking the Ministry of Humanitarian Affairs and Poverty Alleviation.

In a statement signed on Wednesday, by the company Secretary/General Counsel, Michael O. Otu, Zenith described the entire arrest of Dr Onyeagwu as fake news.

The statement read: “We have become aware of inaccurate reports circulating on social media and certain news outlets alleging that Dr Ebenezer Onyeagwu, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, was arrested and held by the EFCC on January 9, 2024, in connection with an alleged fraud at the Federal Ministry of Humanitarian Affairs and Poverty Alleviation.

“We wish to clarify that these reports are entirely false.

“The Group Managing Director was not arrested or detained by the EFCC or any other anti-graft agency and is currently fulfilling his duties at the bank.

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

“Zenith Bank remains dedicated to upholding the highest standards of banking and financial services.”