CBN carrying out special investigations on alleged strings of bank ‘rogue’ deals

Central Bank of Nigeria (CBN) on Monday confirmed that it had initiated special investigations to ascertain the veracity of certain alleged illicit financial transactions in some banks, also being investigated by the Economic and Financial Crimes Commission (EFCC).

The anti-graft agency has detained some notable bank executives over their alleged complicity in strings of ‘rogue deals’ said to be executed by ex-petroleum minister, Diezani Allison-Madueke

The apex bank, in a statement signed by Isaac Okoroafor, its acting director, corporate communications, reiterated that financial system stability remained a top priority, saying it would not allowed the banking system being used as conduit for any illegal transactions.

“The CBN wishes to inform all customers of Deposit Money Banks, other stakeholders, and the general public that it is fully aware and indeed a part of the ongoing investigations of certain financial transactions in some banks by law enforcement authorities.

“The CBN is also carrying out its own special examinations and investigations to ascertain the veracity of some allegations as well as the extent and persons that may be involved in such activities,” the statement noted.

The CBN maintained that some of the investigations being carried out were routine and only relate to isolated transactions, saying, “it is therefore important to state that the safety and soundness of the Nigerian banking industry remain strong.”