Jaiz Bank Clarifies Submission of Documents to EFCC
…Denies MD’s Arrest Rumors
By Patience Ikpeme
In response to recent speculations circulating in the media, Jaiz Bank has clarified its interaction with the Economic and Financial Crimes Commission (EFCC) and has dismissed rumors surrounding the alleged arrest of its Managing Director.
The bank’s statement highlighted that, upon the EFCC’s request, Jaiz Bank willingly submitted documents related to accounts opened by the Ministry of Humanitarian Affairs and Poverty Alleviation.
This cooperative effort the bank said is aimed to assist the agency in its investigations regarding the ministry’s activities. Describing the interaction as cordial, Jaiz Bank reassured the public that its Managing Director promptly resumed duties following the engagement.
Addressing misleading headlines, Jaiz Bank emphasized that no MDs, including their own, were arrested by the EFCC. Instead, the bank clarified its involvement as one of the financial institutions selected by the Ministry in October 2023 to participate in the Federal Government of Nigeria’s intervention programs. This selection followed due process aligned with the FGN procurement act.
Despite being directed by the Ministry to open a project account, Jaiz Bank confirmed that they are yet to receive any funding into the said account. The bank reiterated its commitment to contributing to Nigeria’s economic growth and development by providing ethical and professional alternative financing options.
Jaiz Bank’s statement aims to set the record straight amidst circulating misinformation and reaffirms its dedication to transparent collaboration with relevant authorities while continuing to serve the Nigerian economy responsibly.
