Bangladesh Bank has filed a fraud case against Nagad Ltd, alleging that the company was involved in financial irregularities amounting to Tk 645 crore.

The central bank's payment system department filed the case with Motijheel Police Station, according to Arief Hossain Khan, executive director of Bangladesh Bank.

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HC extends status quo on Nagad’s internal affairs

The lawsuit named 24 individuals, including nine officials from the Bangladesh Post Office. Among the accused are Tanvir A Mishuk, former managing director of Nagad Ltd, and a former director general of the Bangladesh Post Office.

After the interim government took power in August 2024, Bangladesh Bank appointed an administrator at Nagad due to concerns over operational irregularities.

The administrator's investigation revealed several alleged discrepancies, most notably a Tk 600 crore shortfall resulting from the creation of e-money without corresponding cash backing—a serious violation in the financial sector.

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BB waiting for law to sue Nagad

Additionally, unauthorized withdrawals totaling approximately Tk 1,711 crore were identified from 41 distribution accounts designated for government allowances.

These findings have prompted the central bank to pursue legal action to address the alleged misconduct and uphold financial integrity.