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Fact Check: Zenith Bank’s GMD, Onyeagwu Not Arrested By EFCC



Ebenezer Onyeagwu

A recent report in a section of the media.purporting the arrest of Zenith Bank’s Group Managing Director, Dr. Ebenezer Onyeagwu has been described as entirely untrue.

According to the report, Dr
Onyeagwu was arrested by the Economic and Financial Crimes Commission (EFCC) in connection with alleged fraud at the Ministry of Humanitarian Affairs.

However, the foremost lender has now clarified that it’s GMD was neither arrested nor detained by the EFCC or any other anti-graft agency, adding that he is currently fulfilling his duties and responsibilities as the Group Managing Director of Zenith Bank Plc.

The clarification was made in a statement issued by the bank in Lagos on Wednesday and signed by Rich El O. Otu, its Company Secretary/General Counsel.

The statement added that the bank will continue to maintain the highest standards of integrity, accountability, and transparency and remains committed to providing exceptional banking and financial services to customers.

“We have become aware of inaccurate reports circulating on social media and certain news outlets alleging that Dr. Ebenezer Onyeagwu, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, was arrested and held by the EFCC on January 9, 2024, in connection with an alleged fraud at the Federal Ministry of Humanitarian Affairs and Poverty Alleviation.”

“We wish to clarify that these reports are entirely false. The Group Managing Director was not arrested or detained by the EFCC or any other anti-graft agency and is currently fulfilling his duties at the bank.”

“We are issuing this public statement to dispel the misinformation and ensure that the public and our stakeholdârs are accurately informed.”

“Zenith Bank remains dedicated to upholding the highest standards of banking and financial services,” the statement read.


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