DSS arrests CBN deputy gov, Aisha Ahmad over $300m bank shares scandal
In a stunning turn of events, the Department of State Services (DSS) has taken into custody Aisha Ahmad, the Deputy Governor of the Central Bank of Nigeria (CBN) responsible for Financial System Stability Premium Times has reported.
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Her arrest stems from alleged fraudulent activities involving the acquisition of shares in Polaris Bank and Titan Bank/Union Bank, amounting to a staggering $300 million.
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Aisha Ahmad: The Deputy Governor in Question
Aisha Ahmad, relatively obscure until late 2007, boasts an impressive background as an accountant, financial analyst, and financial manager.
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President Muhammadu Buhari appointed her as the CBN Deputy Governor on October 6, 2017, although her Senate confirmation didn’t occur until March 22, 2018. She succeeded Mrs. Sarah Alade, who retired in March 2017, and her prior role was as the Head of Consumer Banking & Investment at Diamond Bank.
The Allegations Unveiled
At the center of this controversy is the alleged involvement of Aisha Ahmad in a scheme to raise $300 million to facilitate the acquisition of Union Bank by Titan Bank. The specifics of how these funds were acquired and funneled remain shrouded in mystery, prompting the DSS to launch a thorough investigation into the matter.
The Suspended CBN Governor Connection
This scandal has cast a shadow over the leadership of the suspended CBN Governor, Godwin Emefiele, who has faced numerous allegations of impropriety regarding the handling of the foreign exchange market.
As the investigation unfolds, it remains to be seen whether there is any direct link between Emefiele’s tenure and the alleged fraudulent activities involving Aisha Ahmad.
The Impact on Nigeria’s Financial System
The arrest of a high-ranking CBN official like Aisha Ahmad raises serious concerns about the integrity of Nigeria’s financial system. Investors and stakeholders are closely monitoring the situation, and its outcome could have far-reaching implications for the country’s financial stability and reputation.
The arrest of Aisha Ahmad, the CBN Deputy Governor, has sent shockwaves through Nigeria’s financial sector. As investigations progress, the true extent of her involvement in the $300 million bank shares scandal will become clearer.
The implications of this case extend beyond Ahmad herself, potentially affecting the reputation and stability of Nigeria’s financial system and its leadership.
But a report by Daily Trust from bank sources debunked media reports on the arrest of the CBN Deputy Governor.
Speaking to Daily Trust, the source said: “In light of the ongoing investigation into the activities of the CBN, all senior officials of the Central Bank are being interviewed by the DSS and the appointed special investigator.
“The deputy governors are not exempt from this exercise and have all been called upon to provide essential information at different times. It is important to emphasize that this is a standard procedure aimed at assisting the ongoing probe.”
In a phone conversation with a close family member of the deputy governor who is not authorised to speak on this matter, confirmed and clarified that the Deputy Governor is safe and sound.
“I wish to reassure everyone that Aishah Ahmad is home with her family and not detained by the DSS. She is safe and sound.
“In these times, it is essential to maintain clarity and rely on verified information only. Mrs. Ahmad’s cooperation with the authorities is a demonstration of her commitment to transparency and due process. It is crucial that the public exercise discretion when evaluating news reports and avoid engaging with unfounded rumours or misinformation.
“The Central Bank of Nigeria (CBN) plays a vital role in the nation’s economic stability, and it is imperative that the investigative process is allowed to run its course.”
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