Federal prosecutors have officially filed corruption charges against Nuri Hussein Indesa, the former Vice President of Interest-Free Banking at the Commercial Bank of Ethiopia (CBE). The high-profile case, presented before the Federal High Court, alleges that the former executive leveraged his influential position to solicit bribes in exchange for approving a substantial credit facility.
The core of the prosecution’s case revolves around a financing request made by a private borrower, Tuji Aman Kura. Mr. Tuji had applied for a 184 million Birr “Murabaha” financing loan intended for the purchase of grain. Despite the borrower reportedly meeting all the bank’s necessary requirements and criteria for the credit, prosecutors allege that Mr. Nuri conditioned the approval of the loan on the receipt of illicit payments and material benefits.
According to the charge sheet, the illicit arrangement involved a complex transfer of funds and goods. The first defendant, Mr. Nuri, is accused of instructing the borrower to deposit 1 million Birr into a corporate account belonging to the second defendant, Rehana Werknah. Furthermore, the prosecution alleges that the borrower was coerced into providing 400 quintals of cement, valued at approximately 740,000 Birr, to be used for the former VP’s private building construction projects.
The legal proceedings also implicate Ms. Rehana Werknah as the third defendant in the case. She faces charges related to money laundering, specifically for allegedly attempting to legitimize the proceeds of a crime. Prosecutors claim she knowingly transferred 600,000 Birr from her account to Mr. Nuri’s personal account, an act described in court documents as “presenting criminally obtained money as legal tender.”
During the preliminary hearing, the court acknowledged the gravity of the heavy corruption charges and the specific financial data presented by the prosecution. The defense is expected to submit written objections to the charges in the coming weeks. Consequently, the Federal High Court has adjourned the case until May 11, 2026 to review the defense’s formal response and determine the next steps in the trial.
This case comes amid a broader national effort to strengthen financial oversight within Ethiopia’s largest state-owned lender. Until the court delivers a final verdict, all defendants maintain the legal presumption of innocence. The CBE has not issued an official statement regarding the internal audit processes that may have led to the discovery of these alleged discrepancies.