EFCC allegedly investigating CBN deputy governor over fraud ▷ NAIJ.COM

– A deputy governor of Central Bank of Nigeria Adebayo Adelabu is allegedly under investigations by the EFCC

– Adelabu was alleged to have connived with Mr. Bisi Onasanya, a former CEO of the bank to arbitrarily approve loans running into several billions of Naira

– A close associate of the deputy CBN governor however denied that Adelabu was questioned by the EFCC

Mr. Adebayo Adelabu, a deputy governor of Central Bank of Nigeria (CBN) was alleged to have been grilled in Lagos by the Economic and Financial Crimes Commission (EFCC) on Monday August 7.

He was alleged to have connived with former minister of Petroleum Resources, Mrs Diezani Alison-Madueke and former Chief Executive Officer of First Bank of Nigeria, Mr. Bisi Onasanya.

Daily Post reports that the deputy governor of CBN who was interrogated was admitted to administrative bail by the anti-graft agency.

He was also alleged to have played a role in the siphoning of shareholder funds via phony loans at First Bank Plc, where he previously served as the Executive Director and Chief Financial Officer.

”The EFCC is particularly looking at billions of naira in bad loans approved for a popular businessman’s companies during his tenure as Chairman of the bank. The recklessness of the bank bosses prompted the CBN to introduce stiffer corporate governance rules to protect shareholder funds from being abused by insiders,” the source alleged.

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However, Barrister Ojo Adebayo, ex-commissioner for justice and attorney general of Oyo state and a close associate of Adelabu denied the arrest.

He said Adelabu was never arrested by the Economic and Financial Crimes Commission.

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Meanwhile, NAIJ.com had reported that Ibrahim Magu revealed that the EFCC is collaborating with other global agencies to trace more loot linked to former minister, Diezani Alison-Madueke.

Magu further disclosed that the commission is also working to get other individuals who have collaborated with the former minister to loot the nation.

Watch this NAIJ.com TV video of EFCC staff staging a walk against corruption: