London, September 14, 2018 (AltAfrica)-About 20 operatives of the Economic and Financial Crimes Commission (EFCC) on Friday, stormed the Ahmadu Bello Way, Victoria Island, Lagos head office of Standard Chartered Bank Nigeria Limited.

A former Lagos State Attorney General and Commissioner for Justice, Mr. Olasupo Shasore, disclosed this on his Twitter handle.

“Disturbing news – 20 EFCC Agents at Standard Chartered Bank HQ to arrest Managing Director, Mrs Bola Adesola, happening now!” Shasore wrote, adding, “now private sector under siege.”

The bank, which confirmed the development in a statement, did not state why the EFCC agents visited the bank.

“We can confirm that law enforcement officials entered our head office building on 14th September 2018. We are clear there was no basis for this entry, and the law enforcement officials left the building shortly afterwards,” the statement explained.

Standard Chartered Bank and three other banks in the country were recently fined a total of N5.87 billion by the Central Bank of Nigeria (CBN) for their violation of extant laws and regulations of the Federal Republic of Nigeria, including the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995, and the Foreign Exchange Manual, 2006.

They were accused of illegally repatriating funds on behalf of MTN Nigeria and the telecom company was directed to immediately refund $8,134,312,397.63 to the coffers of the bank.

Standard Chartered got the highest fine of N2,470,604,767.13 and the CBN has since debited the bank.