The Economic and Financial Crimes Commission (EFCC) has declared Mr. Kennedy Izuagbue wanted for money laundering. Mr. Izagbue served as the Managing Director of the now defunct Societe General Bank.
Mr. Izuagbue is alleged to have laundered the sum of 3.6 billion Naira while he served as Managing director in the Societe General bank. The Head of Media and Publicity of the EFCC confirmed in a statement yesterday that, ”
“Kennedy Izuagbe, a former director of Societe Generale Bank Nigeria Plc and Managing Director of Carlisle Properties and Investment Limited, has been declared wanted by the Economic and Financial Crimes Commission.
“Izuagbe, 45, who is being investigated in a case of conspiracy and money laundering to the tune of over N3.6 bn, has gone into hiding and all efforts to reach him have proved abortive.
“He is linked to the several shady deals and gross financial misconducts that took place in the bank, in which several millions of Naira were granted as loan without due diligence.
“The suspect, who is believed to have fled the country, is a native of Iviukhua village, near Agenebode, Etsako East Local Government Area of Edo State.”
It is also alleged that Mr. Izagbue is listed as the Managing Director of Carlisle properties and Investment, a company allegedly owned by the Senate President, Bukola Saraki.
The Senate President is facing a 13 count charge at the Code of conduct Tribunal and has filed a motion at the Federal High Court praying that the court stop any action by the Code of Conduct Bureau as well as the Federal Ministry of Justice pending the determination of his suit.