Access Bank Rubbishes GMD, Herbert Wigwe’s Arrest Tale

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Access Bank Plc. has cleared air on the alleged arrest of its Group Managing Director, Herbert Wigwe by Economic and Financial Crimes Communication (EFCC).

Access Bank GMD, Herbert Wigwe

In a statement to the Nigerian Stock Exchange signed by the bank’s company secretary, Sunday Ekwochi the issue essentially relates to the credit facilities that were availed Slok Nigeria Limited by the defunct Diamond Bank 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 judgement on Slok, the commission had invited for interrogation officials of Access Bank who were handling the Bank’s recovery efforts on Slok credit including it’s Group Managing Director, the statement reads.

The Bank further stated in the statement that following engagement between the Bank and the commission.

“We are of the opinion that these 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 it’s business in line with extant laws and regulations”, the statement added.