Ex-CBE Noor Corruption Case Returns with Wider Claims Over Loans

May 3 , 2026. By NAHOM AYELE ( FORTUNE STAFF WRITER )

Nuri Hussein, the former vice president of CBE’s interest-free division, stood composed in the dock at the Lideta Federal High Court. The proceedings moved with unusual speed, calling his case first before a sparsely populated room of a few relatives and three defence lawyers. The swift pace of the Fourth Anti-Corruption Bench signalled federal prosecutors' intent to restart a case previously abandoned by the Ministry of Justice. Nuri remains the sole defendant in a case that has kept him in custody for over seven weeks, marking a high-stakes return to federal court.

The corruption case against Nuri Hussein returned to federal courts on Thursday with broader stakes, reviving a matter that federal prosecutors had earlier abandoned following an order from the Ministry of Justice.

Nuri, the former vice president of Commercial Bank of Ethiopia’s CBE Noor, the Bank’s interest-free division, has been in custody for more than seven weeks. Federal police brought him from the detention centre to the Fourth Anti-Corruption Bench in Lideta district. His three lawyers arrived before the hearing and spoke with him before the proceedings.

The Court moved unusually fast. The Bench opened earlier than customary and called Nuri’s case first. The Judge read the new charges, while defence lawyers followed the file. Nuri stood in the dock, composed, listening closely and taking notes. People identified as employees of the Commercial Bank of Ethiopia (CBE), who had appeared at earlier hearings in similar cases, were absent. A few relatives sat quietly.

The pace signalled the prosecution’s intent to restart quickly. The three new charges accuse Nuri of securing illicit gains while "improperly carrying out government duties, engaging in corruption, and disbursing loans in violation of the National Bank of Ethiopia's directives, CBE’s financial policies, and the Sharia financing rules." Prosecutors also allege he allowed loans to be used for "purposes other than their approved plans and accumulated assets beyond his lawful income."

The new file follows a March case in which prosecutors accused Nuri of receiving 1.7 million Br in bribes to facilitate a loan for a borrower. That earlier charge alleged bribery, abuse of power and concealment of illicit funds. Prosecutors claimed he demanded 1.7 million Br in cash and other benefits, misused his authority for personal gain and tried to present the money as legitimate. His sister-in-law, Rihana Workineh, was then named a co-defendant, accused of helping to make transactions appear lawful.

That case was discontinued after the Ministry of Justice ordered it dropped. Federal police then opened a fresh investigation and brought the matter before the pre-trial bench, seeking to keep Nuri in custody while inquiries continued. After completing the investigation, police sent findings to prosecutors, who filed the latest charges. Rihana is not named in the new case, leaving Nuri as the sole defendant. He received the charges on April 28, 2026.

At the centre of the case is how CBE Noor handled large interest-free banking facilities. Prosecutors alleged that Nuri acted as both approver and guarantor for loans issued through the division. Under Sharia financing, loans are not advanced directly to borrowers. The Bank pays suppliers of goods or services; borrowers receive the goods; and the Bank settles payment with suppliers.

Prosecutors allege Nuri was responsible for ensuring those transactions complied with Sharia law and failed to do so. They claim he should have monitored the relationship between borrowers and suppliers, checked receipts and payments, and ensured goods were delivered as documented. They also accuse him of failing to conduct post-loan monitoring after approvals were granted.

The charge sheet alleges Nuri established beneficial relationships with 18 borrowers who used interest-free banking facilities. Prosecutors allege he did not verify that these borrowers received goods backed by proper documents. Investigators also claim to have found that some suppliers and borrowers were related, and that two billion Birr was transferred back to borrowers at different times. Prosecutors charged him with mismanagement of public office. They allege he released funds to 18 borrowers under supplier contracts without verifying delivery of goods, violated Sharia financing rules, failed to monitor the loans, and allowed funds to be returned to borrowers in whole or in part.

A second charge accuses Nuri of abusing his authority by allowing borrowers to obtain loans despite close relationships with suppliers, contrary to rules barring such links. Prosecutors claim this enabled loans exceeding one billion Birr to be diverted from their intended purposes. Six loan cases were cited as evidence.

The third charge concerns property and money prosecutors say are inconsistent with Nuri’s lawful earnings. They allege his total lawful income is 13 million Br, while his accumulated wealth exceeds 264 million Br. Prosecutors charged him with corruption for possessing property and money of unknown origin.

Their evidence includes three houses registered in Nuri’s name with a total area of 408.63Sqm, a Toyota Corolla Cross Hybrid valued at more than three million Birr, and a 2017 Nissan vehicle. Prosecutors also cited properties registered under his wife, Habiba Workneh, including a seven-storey house valued at more than 74 million Br and an eight-storey building valued at more than 103 million Br. Together, the two houses sit on 950Sqm and have a combined value of more than 177 million Br. Prosecutors also presented a vehicle and funds held in various accounts.

Defence lawyers objected to all the charges and asked for 10 days to prepare their response. The Court granted the request and scheduled the next hearing for May 11. The defence also asked that Nuri be moved from police custody to a federal prison facility.

The case now returns under broader allegations than in the March file, shifting from a single alleged bribe to the management of large interest-free loans, borrower-supplier relationships, and wealth that prosecutors claim cannot be explained by lawful income.

PUBLISHED ON May 03,2026 [ VOL 27 , NO 1357]