Alleged Loan Default: Abdulrazaq’s Former Aide, Kayode Oyin-Zubair, Reportedly Arrested By EFC * No, I was not arrested, I went on my volition and left same day– Zubair
By Omowumi Omotosho
Former Senior Special Assistant to Governor Abdulrahman Abdulrazaq of Kwara State on Community Intervention, Kayode Oyin-Zubair, was reportedly arrested by the Economic and Financial Crimes Commission (EFCC) last Wednesday.
His arrest,according to sources, stems from allegations relating to a loan repayment default.
Authoritative sources within the EFCC disclosed that Oyin-Zubair’s arrest followed a formal complaint from SEAP Microfinance Bank regarding a significant loan default.
Reports indicated that Oyin-Zubair secured a loan of over ₦100 million from the bank but has since failed to meet the repayment terms.
Sources further revealed that Oyin-Zubair was directly involved in brokering loans for minibuses intended for transport workers. However, his alleged refusal to repay the personal loan and his subsequent inaccessibility prompted the microfinance bank to escalate the issue to the EFCC.
Although it’s uncertain whether the minibus loan scheme is part of the specific charges, SEAP Microfinance Bank’s petition primarily focuses on the unpaid personal loan, according to sources.
Oyin-Zubair, it was gathered, was eventually granted administrative bail last Friday, after reportedly spending two nights in EFCC custody.
However, when National pilot contacted Oyin-Zubair on Monday, he refuted the claim of being arrested or detained by the EFCC.
According to him, “There is no problem with the loan. The loan is for the minibuses, and we are still paying it. I went to the EFCC myself before the invitation to ask them what the matter was, and presently, I’m in my house. On being at the EFCC custody for two days, I don’t know where they got that information from. Thank you,” he said.
