Business & Finance

EFCC Grills Sterling Bank MD Over Campaign Fund


Officials of the Economic and Financial Crimes Commission (EFCC), on Wednesday, stormed the corporate head office of Sterling Bank Plc in Lagos.

The EFCC officials were said to have interrogated the bank MD, Mr. Yemi Adeola, over the operations of the lending institution for about two hours.

However, sources from within the bank described the visit as a routine exercise that did not warrant any unnecessary attention.

The EFCC’s visit to Sterling bank is coming on the heels of a visit to Fidelity Bank Lagos head office on Tuesday by the officials of the compliance unit of the Central Bank of Nigeria (CBN) as part of the investigations into a $115m transaction made in the run-up to presidential elections last year.

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Fidelity Bank MD, Nnamdi Okonkwo, has been detained by the EFCC since Wednesday, last week. On Tuesday, the agency claimed that it had secured a court order that empowered it to detain the Fidelity Bank boss while investigation progressed.

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