EXCLUSIVE: EFCC Arrests And Grills Mayfresh Mortgage Bank MD, Two Catholic Sisters Over Alleged Share Theft

Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), has reportedly arrested the Managing Director Mayfresh Mortgage Bank, over allegations of stealing company shares and falsifying documents related to the Bank at the Corporate Affairs Commission (CAC).

SaharaReporters gathered on Friday that two senior Catholic Sisters of Jesus the Saviour (SJS), Rev. Sirs. Annette Ezekwem and Gertrude Okafor were also quizzed.

On July 24, 2025, SaharaReporters reported that the anti-graft agency arrested the Deputy Vice Chancellor of Madonna University, Okija, Anambra State, Professor Martin Anagboso, over allegations of stealing company shares and falsifying documents related to Mayfresh Mortgage Bank at the Corporate Affairs Commission (CAC).

It was, however, gathered on Friday that the arrest of the two Catholic Reverend Sisters and the MD of Mayfresh Mortgage Bank were part of the EFCC's expanded investigation into the alleged manipulation of the bank's shares with CAC, in collaboration with some staff members of the CAC.

Two sources familiar with the case told SaharaReporters that Mark Egbegolu was arrested on Friday, August 8, and remains in custody.

The two Reverend Sisters were taken into custody on Wednesday, August 13, but were released on bail to Reverend Father Edeh on Thursday evening.

One of the sources said: "EFCC made further arrests. They arrested Mark Egbegolu, MD Mayfresh Mortgage Bank, and also Rev Sister Annette Ezekwem and Rev Sister Getrude Okafor.

“Egbegolu is presently in EFCC custody. But I learnt that they released the two Reverend Sisters on bail to Father Edeh yesterday (on Thursday) after a day in detention."

The petition being investigated by the EFCC was filed by Rev Fr. Edeh’s relatives, whose shares of the bank with CAC were allegedly wiped out, with documents altered.

SaharaReporters gathered that the late Chief Steven Edeh, Mr. John Paul, and Mrs. Maria Omego—whose shares in Mayfresh Mortgage Bank were allegedly tampered with—had, through their lawyer, Mr. Olu Omotayo, petitioned the EFCC chairman on May 2.

In the petition, they called for an urgent investigation into the alleged theft of their shares and the alteration of company records at the Corporate Affairs Commission (CAC), warning that such acts posed a threat to national development and investor confidence if left unchecked.

The petition, which SaharaReporters obtained, was also copied to the National Security Adviser, Mallam Nuhu Ribadu. It cited Section 175(3) of the Companies and Allied Matters Act (CAMA) 2020 (as amended), which governs share transfers in Nigeria and binds all parties, including the CAC.

The petitioners argued that even a company’s resolution cannot strip shareholders of their ownership, as shares remain the personal property of an individual until lawfully transferred.

The petition to the EFCC urged the agency to focus solely on the criminal aspect of the alleged unauthorised removal of shareholding records at the Corporate Affairs Commission (CAC), rather than delving into civil matters like the administration of Mayfresh Mortgage Bank.

It explained that an earlier petition dated November 5, 2024, was submitted to the National Security Adviser, who referred the matter to the EFCC.

The complaint centred on the alleged theft of shares belonging to Chief Steven Edeh (now late), Arc. John Paul, and Mrs. Maria Edeh-Omego, which was allegedly carried out with the help of some CAC officials.

The petitioners stated that when they met with EFCC investigators in February 2025, the focus shifted to bank administration issues rather than the criminal complaint regarding the removal of their shares.

This failure to address their grievance allegedly caused distress that contributed to the death of 75-year-old Edeh in March 2025.

Meanwhile, the EFCC confirmed the arrest and questioning of the two Reverend Sisters and the MD MayFresh.

EFCC spokesperson and Deputy Commander, Mr. Dele Oyewale, confirmed the arrest in a telephone conversation with SaharaReporters, but stated that the case is still under investigation.

"Yes, the commission arrested them, and an investigation is going on," he said.