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Home News Newly Appointed MD Of First Bank Holdings Lands In EFCC Nets (See...

Newly Appointed MD Of First Bank Holdings Lands In EFCC Nets (See What Happened)


Nnamdi Okonkwo, the newly appointed Managing Director of First Financial institution of Nigeria (FBN) Holdings Plc, has been arrested and detained by the Financial and Monetary Crimes Fee (EFCC).

In accordance with Premium Instances, Okonkwo is being questioned over his function within the switch of $153.3 million from the Nigerian Nationwide Petroleum Fee (NNPC) in favour of Diezani Alison-Madueke, Nigeria’s former petroleum minister.

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A supply stated that the banker, who was managing director of Constancy Financial institution on the time of the incident, has remained in EFCC custody for a minimum of three days, and it was unclear when he can be allowed to go residence.

The EFCC had on April 28, 2016, detained Okonkwo over the identical matter and later slammed a 14-count cost, together with cash laundering, on him. The standing of the case is unclear as of the time of submitting this report on Sunday morning.
Additionally it is unclear if there are recent evidences in opposition to the banker which has now necessitated a recent spherical of investigation. EFCC officers contacted declined to supply particulars.

The board of FBN Holdings Plc had on October 28 appointed Mr Okonkwo the brand new GMD of the corporate with impact from January 1, 2022. He’ll succeed U.Okay. Eke, who will step down on December 31, in accordance with the corporate’s observe to the Nigerian Change Restricted.

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The board resolution got here 5 days after the chairman of Geregu Energy Plc, Femi Otedola, declared his 5.07 per cent stake within the group, making him a considerable shareholder.


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