Thelma Osatohanmwen
Zenith Bank has clarified its appearance before the Economic and Financial Crimes Commission (EFCC), asserting that it was to provide documents aiding ongoing investigations into financial misappropriation and fraud linked to the suspended minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, and her predecessor, Sadiya Umar-Farouk.
NEWSTODAYNG gathered that the EFCC called in the chief executives of Zenith, Providus and Jaiz banks regarding the uncovered N44.5 billion fraud in the ministry, involving Edu, Umar-Farouk, and Halima Shehu.
Zenith Bank’s representatives presented documents related to accounts operated by the Ministry of Humanitarian Affairs to assist the EFCC in its investigation.
Sources within the EFCC confirmed the ongoing interrogation of the banking executives in connection with the alleged fraud and the ₦585 million involving Halima Shehu and Betta Edu.
The suspended minister, Betta Edu, and coordinator Halima Shehu are subjects of the investigation.
While Betta Edu is still being questioned, Umar-Farouk and Halima Shehu were early respondents to the EFCC’s inquiry.
Shehu, the suspended coordinator of the National Social Investment Programme Agency, is being probed for an alleged N44 billion fraud.
The banking executives, under scrutiny since public outcry over the diversion of public funds, are now in EFCC custody. The anti-graft agency is investigating instances where substantial public funds were directed into private accounts, allegedly sanctioned by Edu and Farouq during their tenures as ministers.
Sadiya Umar-Farouk, formerly overseeing the Ministry of Humanitarian Affairs, Disaster Management, and Social Development, is under investigation for the mismanagement of at least N37 billion in public funds designated for the conditional cash transfer programme during the previous administration.
EFCC spokesman, Dele Oyewale, neither confirmed nor refuted the story.
The investigation is ongoing, with both banking executives and government officials providing crucial information for the EFCC’s inquiry into the alleged financial misconduct.