First Word on SB

First Word on SB

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FW: EFCC to investigate Rivers State Government accounts

Aisha-Nana Salaudeen

Aisha-Nana Salaudeen

Aisha is trying to figure out how to tell as many impact stories as possible in different forms.

This article is part of our #FirstWord series to provide context on trending news.

Peter Amangbo, one of Zenith Bank’s top executives, was held by the Economic and Financial Crimes Commission (EFCC) last week over some transactions carried out on behalf of Rivers State.

The anti-graft commission is alleging that the transactions, at least N117 billion in value, are suspicious in nature and that Zenith Bank failed to report them as demanded by the law.

Mr Amangbo and four other officials were therefore detained to explain why their bank did not document the withdrawals, allegedly done over a period of three years. Others are being sought for the investigation. 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.

 

State Government’s response

Meanwhile, the Rivers State Government has called on the EFCC to leave the state alone and concentrate on other pressing matters. In a statement issued by Emma Okah, Rivers' Commissioner for Information and Communications, the state denied any illegal operation of her bank accounts as alleged.

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