Access Bank Denies Arrest Of MD, Herbert Wigwe By EFCC

Access Bank Plc says its Managing Director, Herbert Wigwe was not arrested by the Economic and Financial Crime Commission (EFCC).

YaahooJournalist understands that reports in the Nigerian media had emerged on Friday, stating that the Access bank MD was arrested in connection with “Some transactions and assets involving a jailed politician and businessman Orji Uzor Kalu and other“

However, in a statement issued by the Company’s Secretary, Sunday Ekwochi and sent to YaahooJournalist, the bank denied the report of the arrest of its MD, saying the issue relates to credit facilities that were availed to Slok Nigeria Limited by the defunct Diamond Bank which the bank inherited as a result of its merger with Diamond Bank.

The statement reads as thus; “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 and Financial Crimes Commission (“the Commission”).

“We wish to state that the issue essentially relates to the credit facilities that were availed Slok 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 interest 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 Group 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 relations,” the statement added.