Anxiety have enveloped the banking industry over the resolve by the Economic and Financial Crimes Commission (EFCC) to undertake full-scale investigation of scandalous lodgements in some banks by past public officials.
The panic stemmed from invasion of some lenders and interrogation of their chief executive officers (CEO) by the EECC, according to New Telegraph.
While the CEO of one of the Tier 2 lenders was arrested in connection with a lodgement of $115 million, said to have been made in the bank by a former Minister of Petroleum Resources, two other CEOs were also interrogated over cases of alleged curious lodgements.
The anti-graft agency believes that the $115 million said to have been lodged at the Tier 2 Bank was allegedly meant to be disbursed to some officials of the Independent National Electoral Commission (INEC), ostensibly to compromise the 2015 elections in favour of the then ruling party, the Peoples Democratic Party (PDP). It was gathered that the EFCC would also storm the head offices of three Tier 1 banks where similar transactions were executed.
This is coming on the heels of the discovery that a few other banks may have engaged in what a source described as “less than tidy” transactions in the past.
The source, said the Commission “may soon invite Managing Directors of three old Generation Banks” to appear for interrogation over such lodgement and transactions.
A top official of a second generation bank, who spoke on the condition of anonymity about the development, said: “My brother, there is uneasy calm across the banks in recent days.
This will affect the image of the bank and it is capable of creating a run on banks. “I just hope bank chieftains will be able to manage the ripple effect this crisis will leave on its trail. In our own case, we are not bothered because we never got involved both in sharing and transferring of funds,” he said. Another senior bank official, who also spoke in confidence, said: “I can confirm to you that there is anxiety and fear in the banking sector at the moment. “You know there is no way we would not be worried at a time CEOs of three banks have been interrogated over financial transactions in their respective banks.”
Meanwhile, the CBN said that it is working in collaboration with law enforcement agencies in investigating certain questionable financial transactions in some commercial banks in the country.
This is contained in a statement issued by Issac Okorafor, the bank’s acting director, Corporate Communications, on Monday.
“The CBN wishes to inform all customers of Deposit Money Banks, that it is fully aware and indeed a part of the ongoing investigation of certain financial transactions in some banks by law enforcement authorities.
“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 maybe involved in such activities.
“The bank will like to reiterate that financial systems stability remains a priority and therefore assures customers and stakeholders that it will not allow the banking system to be used as a conduit for any illicit transaction.
“Some of these investigations are routine and only relate to isolated transactions; therefore, it is important to state that the safety and soundness of the Nigerian Banking Industry remains strong,’’ the statement said.
It would be recalled that the Economic and Financial Crimes Commission is currently investigating the Managing Directors of Fidelity, Sterling and Access banks over some transactions allegedly made by Mrs Diezani Alison-Madueke, former minister of Petroleum Resources.
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