Just In: DSS reportedly arrests CBN Deputy Governor over $300 million fraud

In a recent development, the Department of State Services (DSS) has taken into custody Aisha Ahmad, the Deputy Governor responsible for Financial System Stability at the Central Bank of Nigeria, as reported by PMnewsnigeria.

NTA, formerly known as Twitter, disclosed that Ahmad’s detention is linked to suspicions of irregularly acquiring shares in Polaris Bank, Titan Bank, and Union Bank. The ongoing interrogation is focusing on the source of the $300 million used for the Union Bank acquisition facilitated by Titan Bank.

Aisha Ahmad assumed her role as Deputy Governor of the CBN on October 6, 2017, succeeding Sarah Alade, who retired in March of the same year. Her appointment was officially ratified by the Nigerian Senate on March 22, 2018.

In December 2022, the Peoples Gazette asserted that Ahmad played a pivotal role in the sale of Polaris Bank at an advantageous price, allegedly with aspirations of securing the position of Governor of the Central Bank of Nigeria (CBN). However, the CBN promptly refuted these claims, underscoring that the sale of Polaris Bank was a collective decision overseen by a committee comprising senior representatives from the Asset Management Corporation of Nigeria (AMCON) and the CBN.

The transaction was meticulously managed with external legal and financial advisors, and it garnered the approval of both Polaris Bank and the purchaser, Strategic Capital Investment Limited.

The CBN emphasized that no other party submitted a higher purchase offer, dispelling the allegations put forth by the Peoples Gazette. The institution is resolute in maintaining transparency and integrity in its operations, and it is expected that due process will be followed in the investigation.

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