Home Business Jaiz Bank Says MD Was Not Arrested by EFCC

Jaiz Bank Says MD Was Not Arrested by EFCC


Jaiz Bank Plc says it’s Managing Director and Chief Executive Officer, Haruna Musa, was never arrested by the Economic and Financial Crimes Commission (EFCC) as purported in social media.

The bank said contrary to widespread reports in social media, the Managing Director only had a cordial interaction with the anti-graft agency and immediately resumed back to his duties.

In a statement, Jaiz Bank explained that at the request of the EFCC, the bank has submitted some documents relating to accounts opened by the Ministry of Humanitarian Affairs and Poverty Alleviation to help the agency in its investigations of the activities of the Ministry.

According to the bank, the interaction was very cordial and Jaiz Bank MD immediately resumed back to his duties.

“It’s instructive to state that Jaiz Bank in October 2023 was among the financial institutions that were selected by the Ministry as a participating financial institution for the various intervention programs of the Federal Government of Nigeria after a competitive bid, in line with the FGN procurement act.

“The Bank was formerly instructed to open a project account by the Ministry but is yet to receive any funding into the account.

“Jaiz Bank remains committed to contributing to the growth and development of the Nigerian economy through the provision of alternative financing options in an ethical and professional manner.”

The bank’s reactions came following reports and headlines that some banks’ Chief Executives, including Jaiz, were arrested by the EFCC in connection with alleged financial impropriety in the Humanitarian Affairs and Poverty Alleviation Ministry.

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