NewStats: 3,263,066 , 8,179,005 topics. Date: Wednesday, 04 June 2025 at 03:03 PM 22144m

Access Bank Plc has vehemently denied reports that its Group Managing Director, GMD, Herbert Wigwe has been arrested by the Economic and Financial Crimes Commission (EFCC) over allegations of fraud.

Some online news sites had reported that the Access Bank boss was arrested for his connection with the assets of former Abia State governor, Orji Uzor Kalu, alleged money laundering for former petroleum minister, Deziani Allison-Madueke, as well as alleged inflation of contracts linked to former Lagos State Governor, Akinwunmi Ambode.

In a notice to the Nigerian Stock Exchange (NSE) on Friday, January 10, 2019 by the company secretary, Sunday Ekwochi, the lender denied the reports, stressing that its officials were only invited for interrogation over credit facilities that were availed Slok Nigeria Limited (owned by Orji Uzor Kalu) by the defunct Diamond Bank plc (which Access Bank had inherited following its merger with Diamond Bank) and which were secured by Slok’s assets charged to Diamond Bank.

In the statement, the bank further explained that the issues had been resolved.

Read the full statement below:

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.

Given the differing interest of the Commission and the Bank on the assets of Slok deriving from the court’s recent judgment 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 relations

Sunday Ekwochi

Company secretary

https://www.pmnewsnigeria.com/2020/01/11/access-bank-denies-arrest-of-its-gmd/

hmmmmm,... na wa oo








Note: Tommorow is val, no allow em carry u handicap or No , u are Oyo if u loose gard

Access Bank Plc has vehemently denied reports that its Group Managing Director, GMD, Herbert Wigwe has been arrested by the Economic and Financial Crimes Commission (EFCC) over allegations of fraud.

OK

Ok

This is exactly how Innosson case started. This istration keeps witch-hunting successful Igbo business men. I know yelobam moozelems will be happy with this news.

Is this the first or second time. We have heard this news before. It should come with the territory and should be nothing new.

There is no time that the truth won't come up but for now, let the denying continue.

Enemies every where

Interesting..

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hope it's not the cause of the poor access bank services lately...

Who can guild me on how to use the light at access bank ATM stand to read my books? Me self want to hammer

There is no smoke without fire.Corruption would not hold sway.If everyone is in the look out,for example corporate giants in collaboration with politicians perpetuate fraud, monies don't have hands and legs, there are various means through which public funds are diverted to private pockets,Even teachers and lecturers are also guilty of this anomaly because they award FAKE CERTIFICATE to people who are not qualified to even write common entrance exams,religious leader are also included. The list is endless .

That mans day in court is fast approaching. For his role in the butchering of Intercontinental bank.

Thank God PMB came in. He was already salivating on becoming the CBN Governor.

Bloggers and audio arrest! They must chop!

Access is doing very well, u can’t hold bank staffs/chiefs responsibie for government frauds most times cos these top government officials that carry out these frauds have sm level of protection by our vulnerable government laws and power to do almost what they like when in power.

MyVILLAGEpeople:
This is exactly how Innosson case started. This istration keeps witch-hunting successful Igbo business men. I know yelobam moozelems will be happy with this news.

Your village people still dey follow you

bluecircle470:


Your village people still dey follow you

Na u Sabi

Fraud and money laundering are facilitated by bank MDs. Not new

Debaiz:
That mans day in court is fast approaching. For his role in the butchering of Intercontinental bank.

Thank God PMB came in. He was already salivating on becoming the CBN Governor.

Only in a corrupt nation like Nigeria is someone like Intercontinental Bank's Erastus Akingbola not in jail...SMDH
>

All Nigerian Bankers are one way or the other criminals, thieves and fraudsters

Apart from their cashiers

After finishing Diamond abi Wigwe?

Qtsnow1:

Read the full statement below:

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.

Given the differing interest of the Commission and the Bank on the assets of Slok deriving from the court’s recent judgment 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.

nothing will come out of this

You can't arrest him for a loan that was given and signed off by the Board Credit Committee

The amount of money laundering going on in most Nigerian banks.

Base on Logistics.

Most Nigeria banks MDs do assist politicians in laundering money, so am not surprised.

SLOK borrowed from the bank




The bank's interest must therefore be taken into in the event of SLOK being taken over by the FG. Fair enough

MyVILLAGEpeople:
This is exactly how Innosson case started. This istration keeps witch-hunting successful Igbo business men. I know yelobam moozelems will be happy with this news.

Na Mumu you be, se na ' Wigwe own yhe 'bank

Possibly the forfeited Slot Asset stands as collateral for the loan. Same happens in Union Bank and Ikoyi money. The forfeited house with no owner made Union Bank surface as the legally owner of the property as they have take over the property based on defaulted loan for which the house was used as collateral.

The unfortunate part is, in this type of situation, the bank has to choose between recovering depositor money and negative publicity. The hard part is, they have no alternative, both must happen.

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