CBN deputy governor, Aisha Ahmad, in DSS net over $300m — Reports

The deputy governor of the Central Bank of Nigeria, CBN, in charge of Financial System Stability, Aisha Ahmad, has been reportedly arrested and detained by the Department of State Services, DSS.

According to reports, the CBN deputy governor is currently being interrogated on how the $300 million was raised to complete the acquisition of Union Bank by Titan Bank.

Recall that Ahmad was appointed deputy governor of CBN on 6 October 2017 to replace Sarah Alade, who retired in March 2017.

She was later confirmed by the Nigerian Senate on 22 March 2018.

In December 2022, an online platform reported that Ahmad helped to facilitate the sale of Polaris Bank at a favourable price in order to be considered for the position of Governor of the Central Bank of Nigeria (CBN).

The CBN denied these allegations and insisted that the sale of Polaris Bank was an institutional decision supervised by a committee of senior representatives of the Asset Management Corporation of Nigeria (AMCON) and the CBN.

The divestment was also coordinated with outside legal and financial advisers and approved by the leadership and boards of Polaris Bank and the purchaser, Strategic Capital Investment Limited.

The CBN stated that no other party made a higher purchase offer as alleged by the paper.

News going round the media about the arrest of the Central Bank of Nigeria’s (CBN) Deputy Governor Aishah Ahmad is false. 

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