Nigeria’s central bank has joined the Economic and Financial Crimes Commission to investigate some financial transactions in some banks, the bank said on Tuesday.
“The CBN is also carrying out its own special examinations and investigations to ascertain the veracity of some allegations, as well as the extent and persons that may be involved in such activities,” the bank said without giving details.
Last week, the Economic and Financial Crimes Commission (EFCC) said it had detained the managing director of Nigeria’s Fidelity Bank PLC as part of an investigation into some financial transactions.
The anti-graft agency also later arrested the CEOs of Sterling Bank, Yemi Adeola and Herbert Wigwe of Access Bank.
Sterling Bank confirmed on its website that EFCC agents had questioned its Chief Executive Yemi Adeola and other members of its senior management team.
“It has now become clear that the investigation is related to the banking relationship of a non-bank financial institution that is a client of Sterling Bank Plc,” the bank said, noting that it was cooperating with authorities.
Access Bank declined to comment on Herbert Wigwe’s interrogation.
An official at the EFCC, asking not to be named, said Fidelity CEO Okonkwo remained in custody and that the agency was still investigating Sterling and Access Bank