The Economic and Financial Crimes Commission (EFCC) has arrested the Managing Director of Mayfresh Mortgage Bank Limited and two Catholic nuns over an alleged attempt to manipulate shareholder records to evade a ₦1.2 billion loan repayment.
Those arrested include: Mark Egbegolu, MD of Mayfresh Mortgage Bank, Aba, Abia State, Reverend Sister Annette Ezekwem and Reverend Sister Getrude Okafor, both affiliated with Madonna University, Elele, Rivers State
The EFCC alleges that the trio conspired to falsify documents at the Corporate Affairs Commission (CAC) by altering the names and birth dates of key shareholders in the bank in order to avoid paying back a loan obtained in 2020.
At the heart of the case is Prof. Martin Anagboso, Deputy Vice-Chancellor of Madonna University, who was arrested earlier and is considered the lead suspect.
According to investigators, Prof. Anagboso secured the loan by creating a debenture in the bank’s favor, then allegedly worked with others to illegally change corporate records and strip majority shareholders of their controlling interests.
Those targeted in the manipulation include the late Chief Steven Edeh, Arc. John Paul, and Mrs. Maria Edeh-Omeogo, all believed to be major shareholders of the bank.
The scandal reportedly caught the attention of National Security Adviser Mallam Nuhu Ribadu, who ordered a probe into the CAC tampering.
The Rule of Law and Accountability Advocacy Centre has condemned the alleged fraud. Its Executive Director, Dr. Okechukwu Nwanguma, called for immediate prosecution of all involved.
“This is a clear case of economic sabotage. Authorities must not sweep this under the carpet,” he said.
“The suspects should be charged and prosecuted without delay to restore public confidence in our institutions.”
Attempts to get comments from the suspects were unsuccessful, as calls and messages to their known numbers went unanswered as of Monday evening.
