‘Fraud echoes again!’ EFCC goes after Akinwuntan

Mr. Patrick Akinwuntan – the Managing Director and Chief Executive Officer of Eco Bank Nigeria is currently battling to save his job amid a monumental fraud currently pulsating the bank to its roots, according to report on e-nigeria!.

Eco bank Transnational Incorporated (ETI) the parent company of Eco Bank Nigeria and its management have allegedly become the focus of Nigeria’s banking regulator, the Central Bank of Nigeria – CBN and the Economic and Financial Crimes Commission – EFCC over its involvement in the fraudulent diversion of over N800million belonging to Nasarawa State Government.

The EFCC and CBN’s beam on Eco Bank lately has placed its head honcho; Patrick Akinwuntan in a bad spot, as moves to axe him to pave way for a new lease of life for the commercial bank thickens.

Sources informed e-nigeria! that forensic audit by a Lagos based accounting consulting firm engaged by the Nasarawa State Board of Internal Revenue to assist in the improvement of its internally-generated revenue (IGR) base and had to do with excess bank charges, withholding tax on dividends, interest, and deposits against banks operating in the state from May 29, 1999 unearthed the Akinwuntan-led Eco bank’s involvement in swindling the state of a whopping N800 million, this is among the many unresolved issues of poor services, continuous platform breakdown plaguing the back in recent times.

Obviously, this was against the mandate given to Akinwuntan when he took over the mantle of leadership of Eco bank in 2018 which includes, delivering the brand promise of the bank as the platform of choice for convenient, affordable and instant banking services to customers in Nigeria.

The news outlet stated that the bank’s corporate affairs executive, Austin Osokpor, was contacted via test message on Monday morning repeatedly when calls to his phone was not responded to, he did not also revert to us until this story was published.

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