EFCC Detains Bank MD Over Alleged Diezani’s $115 m Cash

Money suspected to have been used to bribe INEC officials By Soni Daniel, Northern Region Editor Managing Director of a leading Nigerian commercial bank has been detained by the Economic and Financial Crimes Commission, EFCC, for allegedly helping former Petroleum Minister, Diezani Allison-Madueke to launder $115 million cash. Nigerian ex-petroleum resources minister Diezani Alison-Madueke  The bank chief executive was taken into EFCC custody three days ago for presiding over the receipt of such huge cash and helping to distribute it to beneficiaries two days to the last general elections. The bank CEO is said to have violated extant law by not reporting the receipt and warehousing of the cash to the Nigerian Financial Intelligence Unit, NFIU, as required by law. Diezani is said to have summoned the bank chief to her Abuja home and told him to prepare to receive foreign currency running into billions of Naira from four companies and to convert it to Naira and pay them to designated beneficiaries on her behalf.