EFCC arrests ex- Springbank MD

The Economic and Financial Crimes Commission on Friday night arrested and detained the sacked Group Managing Director of Spring Bank, Mr. Charles Ojo, over alleged insider abuse, while the boss of the Commission’s spokesperson, Mr. Femi Babafemi ,confirmed the arrest.

The commission is also set to declare the sacked Group Managing Director of Equitorial Trust Bank, Mr. Ike Oraekwuotu, wanted if he did not give himself up for arrest.

He did not give any ultimatum. He is said to be in hiding since his removal by the Central Bank of Nigeria over alleged unethical handling of the bank while in charge.

Mr.Francis Atuche, under whose headship the Bank PHB failed the apex bank stress test, had been taken in by the commission last Friday. Also arrested same day was the highest individual debtor in the country, sacked Managing Director of Falcon Securities, Mr. Peter Ololo.

Ojo was reportedly arrested at 11.30 pm Friday night at the Murtala Mohammed International Airport, Lagos. The commission’s operatives were said to have trailed him from Abuja, where he boarded a late night flight, to Lagos and was reportedly picked while trying to use the cover of night to sneak out.

The commission had put all the three sacked bank chiefs on security surveillance since they were removed by the apex bank penultimate week.