The allegation is that when people came to open LCs at the bank to get foreign currency, the vice president and the 10 other employees had been appropriating 10pc of the money for themselves.
Established in 1994 with a capital of 24.2 million Br and 486 founding members as the first private bank since the Ethiopian People's Revolutionary Democratic Front (EPRDF) came to power in 1991, AIB now has a capital of 434 million Br and 2,700 shares.
The bank has now established a committee under Tsehay Shiferaw, vice president of Credit and Risk Management also a vice president, to investigate the case. Tsehay has now also assumed Mitiku's role in the International Banking Department.
"We will decide what we will do once the investigation is over," said Lekun Brehanu, president of the bank.
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