Connect with us

Banking

ACCESS BANK: “EFCC Didn’t Arrest Our GMD, Herbert Wigwe

Published

on

Leading financial institution, Access  Bank Plc. has reacted to the report that went viral on the social media about the allegedly arrest of its Group Managing Director, Herbert Wigwe by the Economic and Financial Crimes Commission (EFCC).

In a statement issued by the company’s Secretary, Sunday Ekwochi on Friday, January 10, 2020, it reads;

“Our attention has been drawn to a trending report on social media regarding the alleged arrest of Mr. Herbert Wigwe, the Group Managing Director of Access Bank PLC. (Access Bank) by the Economic Financial Crimes Commission (the Commission).”

“We wish to state that the essentially relates to the credit facilities that were availed Stock Nigeria Limited (Slok) by the defunct Diamond Bank Plc. (Diamond) and which were secured by Slok’s assets charged to Diamond.”

“Access Bank had inherited the Slok credit following the recent merger of Diamond with Access Bank.”

“Given the differing interests of the Commission and the Bank on the assets of Slok deriving from the court’s recent judgment on Slok, the Commission had invited for interrogation officials of Access Bank who were handling the Bank’s recovery efforts on Slok credit including its Managing Director.”

“Following fruitful engagement between the Bank and the Commission, we are of the opinion that the issues relating to Slok investigation have been resolved.”

“As an institution built on best practice, we wish to assure our esteemed stakeholders that the Bank will continue to conduct its business in line with extant laws and regulations.”

%d bloggers like this: