EFCC summons First Bank, Sterling, Access officials
Banks explain reasons for invitation
Three banks – First Bank, Sterling Bank Plc and Access Bank Plc – have clarified the invitation of their officials in the ongoing investigations by the Economic and Financial Crimes Commission (EFCC) in the country.
Sterling Bank explained that officials of the anti-graft agency visited the bank on Wednesday May 4, 2016 to investigate a banking relationship of a non-bank financial institution that is its client.
According to the bank, it does not hold the account of the public officer from the previous administration to which the matter has been linked either officially or otherwise.
The bank also stated that the non-bank financial institution (Asset Management Company) purchased a number of loans on a recourse basis from Sterling Bank Plc on commercially acceptable terms, which, according to the bank is the link of the concern raised by the EFCC to Sterling Bank Plc.
Similarly, Access Bank stated that the officials visited the bank on May 6, 2016 to investigate into a specific transaction involving a customer of the bank in the normal course of business.
The visit, according to the bank, came without any form of earlier notification or invitation.
The bank explained that the officials informed it that they were investigating some transactions and sought its cooperation.
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