The Economic and Financial Crimes Commission (EFCC) Kano Zonal Office on Wednesday invited senior officials of Jigawa Savings and Loans, including members of its board of directors, over alleged financial misconduct.
The Economic and Financial Crimes Commission Kano Zonal Office on Wednesday invited senior officials of Jigawa Savings and Loans, including members of its board of directors, over alleged financial misconduct.
The officials, led by the bank’s Managing Director, Babandi Isa Gumel, reportedly spent several hours at the EFCC office on the first day of Ramadan responding to investigators’ inquiries. Sources disclosed that the development followed a formal invitation letter from the EFCC’s Kano office, requesting the Managing Director to appear alongside some management staff at about 1pm on Wednesday, February 18, 2026. The anti-graft agency also demanded detailed account statements of the bank covering the period from January 1, 2024, to date. According to reports, the officials honoured the invitation and were engaged by investigators throughout the day while observing the Ramadan. While some of the officials were later allowed to leave, others remained in custody as of yesterday. It was further gathered that the EFCC declined to question the Managing Director separately, directing him instead to return with the chairman of the bank’s Board of Directors for a joint appearance before investigators. The EFCC has not issued any official statement clarifying the nature of the allegations or indicating when the bank officials will be required to reappear before the Commission. However, efforts to obtain comments from the bank’s management were unsuccessful at the time of filing this report. Meanwhile, the Jigawa State Government has recently approved a N1 billion recapitalisation of the state-owned Jigawa Savings and Loans Limited to strengthen its financial position and ensure regulatory compliance. The decision was announced by the Commissioner for Information, Youth, Sports and Culture, Sagir Musa, during a press briefing on the outcome of the council’s first meeting of 2026, held in Dutse on Friday. The capital injection is aimed at ensuring the institution meets the minimum capital requirements prescribed by the Central Bank of Nigeria for primary mortgage banks.
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