The Managing Director and CEO of Wema Bank, Ademola Adebise, in collaboration with some of his staffers, has been indicted in a conspiracy of the money-laundering which involves N1 billion and which has earned the suspects some time in the custody of the Economic and Financial Crimes Commission (EFCC.) It will be recalled that the financial institution was recently in the news for the bad reason as the bank featured prominently in the money laundering case including Dana Air and it now has to combat another case of fraud involving its MD, Adebise as the alleged ringleader. There are indications that the Wema Bank CEO through a clever move laundered the said amount using the account of an innocent customer without his consent. It is also claimed in some reports that the alleged money laundering might have been a part of a grand to dislodge the owner of a popular hospitality and entertainment facility located in Maryland and which is currently under the receivership of Kunle Ogunba (SAN) and the subject of litigation. Several sources posit Adebise and his collaborator have been invited to EFCC for questioning. This development is worrisome because the phenomenon of corruption has been at the forefront of the national discourse especially ever since President Buhari won his first term as president of the Federal Republic of Nigeria. Perhaps, the banking sector of the Nigerian economy needs closer scrutiny by the foremost anti-corruption agencies of the country. The issue is already causing ripples in the banking industry, and could cast an aspersion on the profile of the Wema Bank boss if he does not move fast to redeem his image.