EFCC Detains Plural Oil CEO Over Alleged Debt Dispute with Providus Bank

The Economic and Financial Crimes Commission (EFCC) detained Plural Oil CEO Tunde Oyefolu over an alleged debt of ₦3.17bn and $835,486 owed to Providus Bank. Oyefolu's detention followed a court order authorizing the freezing of accounts linked to Plural Oil.

The company accuses Providus Bank of withholding key information and disrupting its operations. Despite repaying a significant amount, Oyefolu faced harsh conditions during his seven-day detention.

The legal battle involves claims of unlawful detention and violation of rights, with ongoing disputes over the freezing of accounts.