Senior officials of Jigawa Savings and Loans Limited have been questioned by the Economic and Financial Crimes Commission (EFCC) over allegations of financial impropriety.
The officials, including the Managing Director, Babandi Isa Gumel, honoured an invitation from the EFCC’s Kano Zonal Office on Wednesday, February 18, 2026. The invitation, issued through a formal letter, requested the Managing Director to appear alongside selected management staff at about 1:00 p.m. and to provide detailed account statements of the bank from January 1, 2024, to date.
Sources indicated that the officials spent several hours with investigators on the first day of Ramadan, responding to inquiries. While some were later released, others were reportedly still in custody as of the time of filing this report.
It was further gathered that the anti-graft agency directed the Managing Director to return with the Chairman of the Board of Directors for a joint appearance, declining to question him separately.
The EFCC has yet to issue an official statement outlining the specific nature of the allegations or confirming when the bank’s executives will next appear before investigators.
Attempts to obtain comments from the management of Jigawa Savings and Loans Limited were unsuccessful.
The development comes shortly after the Jigawa State Government approved a N1 billion recapitalisation of the state-owned financial institution. The Commissioner for Information, Youth, Sports and Culture, Sagir Musa, announced the decision during a press briefing in Dutse following the State Executive Council’s first meeting of 2026.
According to the commissioner, the capital injection is intended to strengthen the bank’s financial position and ensure compliance with the minimum capital requirements set by the Central Bank of Nigeria for primary mortgage banks.
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