Busted! MD Of Zenith Bank, Peter Amangbo Arrested By EFCC For FRAUD… Suspicious Withdrawal Of N117bn By Rivers State Government

The Economic and Financial Crimes Commission is reported to have detained the MD of Zenith Bank, Peter Amangbo over a series of transactions his bank allegedly carried out on behalf of Rivers State.





EFCC 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. According to reports, Amangbo was held to explain why his bank failed to document the withdrawals, allegedly done over a three-year period, as suspicious.
 May

Amangbo was first invited for questioning on August 23, 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, he was however not allowed to return home on Friday.

Governor Nyesom Wike of Rivers slammed the investigation as “political witch-hunt” saying he would continue to prevent state officials from appearing before the EFCC for questioning.