The Economic and Financial Crimes Commission (EFCC) says it has arrested First Bank Holdings GMD Nnamdi Okonkwo over $72.87 million linked to former petroleum minister Diezani Allison-Madueke.

Wilson Uwujaren, the spokesperson for EFCC, announced on Wednesday in Abuja that Mr Okonkwo, a former managing director of Fidelity Bank Plc, was under detention in connection with the money.

“While all the $153 million were recovered by the EFCC, the cases involving $115 million, as it relates with the Independent National Electoral Commission (INEC) bribery matter, are in various courts,” he explained. “Okonkwo and Charles Onyedibe are currently being detained by the EFCC over the whereabouts of the new $72.87 million.” 

Mr Uwujaren, who disclosed that the money was lodged in the bank’s coffers, added that Mr Okonkwo’s arrest was part of ongoing investigations on the former minister.

According to him, Mr Okonkwo, who is currently the GMD of First Bank Holdings, alongside others, had earlier been interrogated over $153 million and $115 million by the anti-graft agency.

(NAN)

Editor’s Note: This story has been updated with the correct position of Nnamdi Okonkwo. He is First Bank Holdings GMD and not the chairman.