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Zenith Bank MD, Amangbo in EFCC Net

Zenith Bank MD, Amangbo in EFCC Net

Peter Amangbo, the GMD/CEO of Zenith Bank is at the moment in the net of the Economic & Financial Crimes Commission ( EFCC) over a suspicious multi-million naira transaction ccording to Premium Times investigation.

The Economic and Financial Crimes Commission is alleging that the transactions, at least N117 billion in value, are suspicious in nature but that Zenith failed to report them as demanded by law.

Insiders at the EFCC and Zenith Bank said Mr. Amangbo was held to explain why his bank failed to document the withdrawals, allegedly done over a three-year period, as suspicious.

Mr Amangbo was first invited for questioning on August 23, sources said. But he was freed on administrative bail and asked to return on August 24 for further interrogation.

He honoured the arrangement, turning himself in again at the EFCC headquarters in Abuja.

Our sources said the top banker was however not allowed to return home on Friday.

“He was still being quizzed as at 4 p.m. on Sunday,” one source said.

At least four other officials are being sought in the investigation, PREMIUM TIMES learnt.

The suspects considered to be at large include Fubara Similari, whom investigators identified as the director of finance and account at the Government House in Port Harcourt. The Government House cashier is also said to be on the run.

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