EFCC Declares 20 Ogun Teachers Innocent Over N200m Loan Scam Perpetrated In Their Names

EFCC has cleared the first batch of 120 public secondary school 

teachers in Ogun State, who were arrested by the anti-graft 

agency over a N200m loan scam under investigation.

The loan scam was allegedly perpetrated in one of the old 

generation banks (name withheld).

The affected secondary school teachers, mostly from Abeokuta 

South Local Government Area, had denied ever having obtained 

any loan from the bank.

The teachers invited were 120 and they were divided into six 

batches.

The first batch was made up of 20 teachers who were guests 

of the anti-graft agency on Monday, at its headquarters in Lagos, 

where they were quizzed.

One of the sources, privy to the session said that there was a 

discovery that none of the 20 teachers at any point in time 

obtained the said loan from the bank.

The source said the passport photographs provided by the bank 

did not tally with the faces of the teachers and all the addresses 

provided did not correspond with the teachers’.

It was also discovered that nearly all of the 20 teachers had no 

account with the bank and that the state Teaching Service 

Commission had no hand in the matter.

The source said, “The first batch of the 120 secondary school 

teachers alleged to have obtained a N200m loan from the bank 

have been vindicated. Their names were dropped randomly by 

the bank officials. The passport photographs on the forms filled 

in obtaining the loan did not tally with their faces and also the 

addresses provided were totally different.

“It was also discovered that nearly all the teachers did not 

operate any form of accounts with the bank. The appearance 

of the remaining 100 teachers is just a formality and it was also 

clear that TESCOM knew nothing about it and it equally did not 

have any account with First Bank.

“The teachers were treated well by the EFCC. There was no 

intimidation or harassment. The first set came back rejoicing. 

The anti-graft agency is now beaming its searchlight on some 

officials of the bank.”

It will be recalled that One hundred and twenty teachers in 

public secondary schools in Ogun State were invited on Monday 

by the EFCC to answer questions on a loan of N200m allegedly 

collected in their names from one of the old generation banks 

(name withheld) since 2011 and yet to be repaid.

 “The story of the N200m loan was still a mystery to many of us. 

We do not have any account with the bank," another source said.