Access Bank: Why EFCC invited our GMD, others for interrogation

Access Bank: Why EFCC invited our GMD, others for interrogation

Sunday, January 12, 2020 3:02 pm

Herbert Wigwe,

Access Bank PLC, has confirmed that the  its Group Managing Director, Herbert Wigwe, was questioned last week by Economic and Financial Crimes Commission, EFCC over recovery efforts on Slok Group of Companies owned by former Governor of Abia State, Orji Uzor Kalu.

Kalu is recently serving a prison sentence after being found guilty of allegations of misappropriations of the finances of Abia State while he was the governor.

In a memo signed by its Company Secretary, Sunday Ekwochi, Access Bank confirmed that EFCC invited its officials who were handling the Bank’s recovery efforts on Slok credit, including its Group Managing Director for interrogation.

The memo, sent to the Nigeria Stock Exchange on January 10, 2019 by Access Bank PLC, reads: “Our attention has been drawn to a trending report on social media regarding the alleged arrest of Mr. Herbert Wigwe, the Group Managing Director of Access Bank Plc (Access Bank) by the Economic and Financial Crimes Commission (“the Commission”).

“We wish to state that the issue essentially relates to the credit facilities that were availed Slok Nigeria Limited (“Slok”) by the defunct Diamond bank Plc (“Diamond”) and which were secured by Slok’s assets charged to Diamond. Access Bank had inherited the Slok credit following the recent merger of Diamond with Access Bank.

“Given the differing interest of the Commission and the Bank on the assets of Slok deriving from the court’s recent judgment on Slok, the Commission had invited for interrogation officials of Access Bank who were handling the Bank’s recovery efforts on Slok credit including its Group Managing Director.

“Following fruitful engagement between the Bank and the Commission, we are of the opinion that the issues relating to Slok investigation have been resolved.

“As an institution built on best practice, we wish to assure our esteemed stakeholders that the Bank will continue to conduct its business in line with extant laws and relations.”

Join The Conversation

What do you think?

This site uses Akismet to reduce spam. Learn how your comment data is processed.