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Access Bank CEO Reportedly Arrested By EFCC

Access Bank MD Herbert Wigwe - News and Gist Blog in Nigeria

Managing Director of Access Bank Plc, Herbert Wigwe, was on Friday arrested by operatives of the Economic and Financial Crimes Commission.
Wigwe was picked up at the Bank’s head office in Victoria Island, Lagos State.

Sources said he spent the night at the Lagos State office of the EFCC.

The reason for the arrest was not disclosed by both the EFCC and the bank as at press time.

However, Wigwe will be the third head of a Bank to be picked up by the EFCC in the last two weeks.

Others arrested before him included the Managing Director of Fidelity Bank Plc, Nnamdi Okonkwo, for allegedly receiving in cash $115 million into the Bank’s coffers from a former Minister of Petroleum Resources, Diezani Alison-Madueke.

Okonkwo was also allegedly personally given another cash of $26 million.

The Bank has denied complicity in the issue, saying it reported the development to the appropriate authorities.

Following the development, the Executive Director, North, of the Bank, Balarabe Musa, has been named as acting MD.

The Managing Director of Sterling Bank Plc, Yemi Adeola, was also quizzed by the EFCC during the week.

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