The Managing Director of Access Bank Plc, Herbert Wigwe, was reportedly arrested on Friday by operatives of the Economic and Financial Crimes Commission, EFCC.
According to reports, Wigwe was picked up at the Bank’s head office in Victoria Island, Lagos State. Sources said he spent the night at the Lagos State office of the EFCC.
However, later on Friday, the bank released a statement signed by the company secretary, Sunday Ekwochi.
“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 to the Slok Nigeria Ltd (“Slok”) by the defunct Diamond Plc (“Diamond”) and which were secured by Slok’s assets charged to Diamond. Access Bank had inherited the Slok credit following the merger of Diamond and 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’s recovery efforts on Slok credit including its Group Managing Director.”
The bank further stated that following engagement between them and the EFCC, issues relating to Slok investigation have been resolved. It assures its stakeholders of complying with extant laws in conducting its business.
“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” the Bank’s statement concluded.