THE force headquarters in abuja is allegedly investigating a petition written against Mr. Usman Lamidi, the Managing Director of a Micro Finance Bank located in Igarra and Auchi Edo state.
It was recently alleged by stakeholders in Edo North that most of the over N350m cash loan meant for poor rural business men and women were diverted to the Managing Director’s cronies, proxies, and fronts thereby shortchanging the genuine potential beneficiaries of this opportunity to grow their businesses.
In a letter of invitation sighted by _Standard Daily Press_ correspondent in Benin, the police accused the Bank MD of money laundering, criminal conspiracy and obtaining money by false pretence. The letter is dated 14th of August and signed by a Commissioner of Police for a DIG in force headquarters.
The letter further stated that in furtherance of police investigation, the said head of the Micro Finance bank is invited to appear for an interview with the DIG force headquarters.
Efforts to speak with the bank MD didnt yield any results but sources close to the bank told our correspondent that local politicians have been very unhappy with the bank over the disbursement of the Governor’s loan due to their own interest.
As the investigation by the police continues, we hope the Edo state government will look into this matter and ensure that the interest free loan for poor businesses in the state is transparently disbursed and the targeted beneficiaries actually get the loan as intended by the government.
The Commissioner for Finance of Edo state Engineer Okoebor Emmanuel had earlier announced to the public that the loan will be paid over a period of 12 months at 16,000 per month interest free. But with this development it appears that this objective might not be met.
A local trader in Afuze, Madam Aze Dawodu lamented that she never saw any loan despite filling the form and submitting through the Micro Finance since March 2025.
Similarly, Mrs. Omewun Jonah in Igarra who specifically alleged that the bank MD is an active member of an opposition political party and wonder why government will channel such project through a bank run and managed by a known politician.
“This is the beginning of the problem,” she concluded.
