April 16, 2024

The management of Jaiz Bank Plc has clarified that its MD/CEO was never arrested by the Economic and Financial Crimes Commission (EFCC), contrary to headlines in some sections of the media, particularly social media.

It clarified that Jaiz Bank, at the request of the EFCC on Tuesday, had 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.

The management added that the interaction was very cordial, and Jaiz Bank’s MD immediately resumed his duties.

Giving details of what transpired, the management clarified 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 programmes of the Federal Government of Nigeria after a competitive bid, in line with the FGN procurement act.

It added that the bank was formerly instructed to open a project account by the Ministry but has yet to receive any funding into the account.

The management said 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.

In a statement released on Wednesday, the management said, “The attention of Jaiz Bank Plc has been drawn to headlines in some sections of the media, particularly social media platforms, insinuating that some banks’ MDs, including that of Jaiz, have been arrested by the Economic and Financial Crimes Commission (EFCC)

“The Bank would like to place on record that yesterday, Jaiz Bank, at the request of the EFCC, 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.

“The interaction was very cordial, and Jaiz Bank MD immediately resumed 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 programmes 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.”

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