Access Bank MD Herbert Wigwe
Access Bank MD Herbert Wigwe

Access Bank on Friday debunked claims that its Managing Director, Herbert Wigwe was arrested by the Economic and Financial Crime Commission (EFCC).

The report making the rounds on the arrest of Herbert Wigwe, suggested that the Access bank Md was arrested in connection with “Some transactions and assets involving a jailed politician and businessman Orji Kalu and other“

In a swift reaction, Access Bank in a letter signed by its Company Secretary Sunday Ekwochi, denied the report of the arrest of its MD, saying the issue relates to credit facilities that was availed to Slok Nigeria Limited by the defunct Diamond Bank which the bank inheritted as a result of its merger with Diamond Bank.

“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. Arrest on social media.”

The bank admitted that the EFCC invited the Slok credit recovery team as well as its GMD, adding that the bank is optimistic that the issue has been resolved following the engagement of the bank’s representative and the EFCC.

Although the EFCC is yet to issue a statement to this regard, the Access Bank in its statement added as thus; “Given the differing interests of the Commission and the Bank on the assets of Slok deriving from the court’s recent judgement 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 regulations”.

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