EFCC Arrests Mayfresh Mortgage Bank MD, Catholic Sisters Over Alleged Share Theft
The Economic and Financial Crimes Commission (EFCC) has arrested the Managing Director of Mayfresh Mortgage Bank, Mark Egbegolu, and quizzed two senior Catholic Sisters over alleged theft of company shares and falsification of records at the Corporate Affairs Commission (CAC).
According to sources familiar with the case, Egbegolu was taken into custody on August 8 and remains detained. The two nuns Rev. Sisters Annette Ezekwem and Gertrude Okafor of the Sisters of Jesus the Saviour (SJS) were arrested on August 13 and released on bail the following day to Rev. Father Emmanuel Edeh.
The arrests are part of an expanded EFCC probe into alleged manipulation of Mayfresh Mortgage Bank’s shareholding, reportedly carried out in collusion with some CAC officials.
The investigation stems from a petition filed on May 2 by relatives of the late Chief Steven Edeh, along with Arc. John Paul and Mrs. Maria Edeh-Omego.
The petition alleged that their shares in the bank were unlawfully removed and corporate records altered. Addressed to EFCC Chairman Ola Olukoyede and copied to National Security Adviser Nuhu Ribadu, the petition cited Section 175(3) of the Companies and Allied Matters Act (CAMA) 2020, stressing that share ownership cannot be stripped without lawful transfer.
The petitioners urged the EFCC to treat the matter strictly as a criminal case of unauthorized record tampering, warning that such actions undermine investor confidence and national development.
The matter was first brought to the National Security Adviser in November 2024 before being referred to the EFCC.
The complainants claim that investigators initially shifted focus to the bank’s administrative issues, leaving the core allegations of share theft unaddressed a development they say caused distress to 75-year-old Edeh, who died in March 2025.
