The Anti-Corruption Commission (ACC) has conducted a raid at the headquarters of Nagad, a mobile financial services company, located on Kamal Ataturk Avenue in Banani, Dhaka. During the operation, three ACC investigation officers questioned senior officials regarding various matters, including ownership records since 2019 and customer data.
According to sources, Nagad Administrator Muhammad Badiuzzaman Didar and members of the company’s board of directors were not present at the time of the raid. As a result, the company officials were unable to answer most of the investigators’ queries. The ACC officers inquired about the existence of multiple accounts under a single National ID (NID) and questioned agreements with foreign entities. In response, the company officials stated that they were not involved in the company’s formation and suggested reviewing the necessary documents for further information.
Efforts to obtain an immediate response from Nagad’s authorities were unsuccessful.
Earlier, the Bangladesh High Court had issued a status quo on all activities of the Bangladesh Bank-appointed administrator at Nagad. The order was passed by the bench of Justice Farah Mahbub and Justice Debashish Roy Chowdhury on January 15, as confirmed the following day by Abul Kalam Khan Daud, the legal representative of Nagad Limited’s shareholders.
It is noteworthy that on August 21, Bangladesh Bank appointed an administrator for one year to oversee the operations of Nagad, a digital transaction service of the Bangladesh Post Office. Muhammad Badiuzzaman Didar, a director from Bangladesh Bank’s Chattogram office, was assigned as the administrator, alongside six other officials appointed to assist in managing Nagad Digital Financial Services. On the same day, the previous board of directors was dissolved.
However, Nagad’s Executive Director, Md. Safayet Alam, challenged this decision by filing a writ petition. In response, on December 18, the High Court issued an initial status quo order on the administrator’s activities, which was extended until January 2.
