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Banker at African Lender's U.K. Unit Said to Be Arrested in 2017

  • Former U.K. chief of Union Bank of Nigeria detained last year
  • Bob Diamond’s Atlas Mara holds 49 percent stake in Africa bank
Trading At The Nigeria Stock Exchange

Photographer: George Osodi/Bloomberg

The former head of the London unit of Union Bank of Nigeria Plc was arrested last year as part of a bribery probe, according to four people with knowledge of the case, solving a mystery hinted at by U.K. prosecutors this week.

Maurice Phido was detained by police in May 2017, the people said, who asked not to be identified because his name isn’t public. Phido was released on bail after his arrest and went back to Nigeria, according to one of the people.