EFCC Raids Providus Bank HQ, Arrests Staff Over $7M Cash Deposit
Economic and Financial Crimes Commission (EFCC) operatives raided Providus Bank's Lagos headquarters, arresting staff over a suspicious $7 million cash deposit in March 2025. The EFCC acted on intelligence regarding the unusual movement of funds, leading to the discovery of raw cash in the bank's vault instead of being credited to a customer account.
The investigation pointed to an Abuja businesswoman linked to Ocean Gate Petroleum as the alleged owner of the funds, which she denied, claiming it was a loan. Following the seizure of the money, the EFCC detained bank employees for interrogation and transferred the funds to the Central Bank of Nigeria.
The Federal High Court in Abuja granted the EFCC's request to move the money into custody pending further investigation.
Plus234Feed summary based on reporting from Politics Nigeria. Read the original report below.
Read full article
Continue on Politics Nigeria
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
FG Secures Court Order to Seize $7 Million Found in Providus Bank Vault
Court Orders Final Forfeiture of $7 Million to FG After Recovery from Nigerian Bank Vault
Nigerian Court Orders Final Forfeiture of $7 Million Abandoned in Providus Bank
Court Orders Forfeiture of $7m Linked to Aisha Achimugu in Money Laundering Case
EFCC Speaks on Next Action After Finding Undeclared Dollars at Airport, Actual Amount Mentioned
EFCC Recovers ₦5bn and $10m From Refinery Maintenance Fraud, Targets More Funds
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
