According to Zenith Bank, the purpose of its visit to the Economic and Financial Crimes Commission (EFCC) was to provide information that would support the ongoing investigations into financial misappropriation and fraud connected to Betta Edu, the suspended minister of Humanitarian Affairs and Poverty Alleviation, and Sadiya Umar-Farouk, Edu’s predecessor.
The chief executives of Zenith, Provides, and Jaiz banks were summoned by the EFCC due to the N44.5 billion scam that was discovered in the ministry involving Halima Shehu, Umar-Farouk, and Edu.
Zenith Bank said that in order to assist the agency in its Ministry investigation, the bank’s helmsman had gone to provide papers pertaining to accounts run by the Ministry of Humanitarian Affairs.
Reports were verified by EFCC sources, who indicated they are being questioned about it.
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“Our interrogators here at the headquarters are currently grilling the CEOs and MDs of Zenith Bank, Providus Bank, and Jaiz Bank.”
They were invited and are currently under investigation in relation to the ₦44 billion scam that was discovered and the ₦585 million that included Betta Edu and Halima Shehu.
The source stated, “During their interrogations, the suspended minister and the coordinator both made new revelations, and the investigation is still ongoing.”
Umar-Farouk and Halima Shehu arrived early at the EFCC, where Edu is still being questioned.
Shehu, who is under investigation by the EFCC for an alleged N44 billion fraud, was the chief executive officer and suspended coordinator of the National Social Investment Programme Agency, which is housed in the ministry of Humanitarian Affairs and Poverty Alleviation.
According to presidential sources, the banking executives are currently in the custody of the EFCC. They have been the subject of covert investigation ever since the public outrage over the dishonest transfer of public cash into private accounts.
The anti-graft agency is currently looking into multiple cases of significant public cash being transferred into private accounts—a move that was approved by Farouq and Edu using their ministerial positions.
Under the previous administration, Farouq oversaw the Ministry of Humanitarian Affairs, Disaster Management, and Social Development. He is currently being investigated for misusing at least N37 billion in public funds meant for then-President Muhammadu Buhari’s conditional cash transfer programme.
