First Bank Employee Absconds After Allegedly Diverting ₦40 billion

Published

2 years ago

May 31, 2024

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First Bank Employee Absconds After Allegedly Diverting ₦40 billion—First Bank, a Nigerian tier-one lender has begun legal action to recover “huge sums of money” allegedly diverted by an employee at a head office team in Iganmu, Lagos.

The employee, now on the run, allegedly diverted those funds to 98 bank accounts classified as first beneficiaries, including his wife’s.

The bank reported the incident to the Nigerian Police Force on March 25, 2024, and obtained three court orders between April 4–8, 2024 to block hundreds of bank accounts believed to have received the stolen funds.

Three people with direct knowledge of the incident told TechCabal that while the initial amount discovered to be diverted was around ₦12 billion, it now stands at around ₦40 billion ($29 million).

As a manager on the electronic products team at First Bank, the employee, identified by court documents as Tijani Muiz Adeyinka was authorised to process reversals for customers, said one First Bank employee with knowledge of the matter. It meant he controlled an account with which he processed those reversals and could credit merchant accounts.

Muiz allegedly used that authority to instead credit customer reversal requests to a merchant he controlled. As the last line of authorisation on the team, he allegedly did not need any further approvals, it allowed him to carry on diverting customer funds for almost two years without detection.

His scheme was eventually discovered when a customer made a complaint that was eventually escalated to the bank’s internal control unit. The control unit discovered several suspicious transactions and reported to the police.

“We hereby bring to your notice the discovery of fraudulent transactions into various transactions within and outside the bank and request your good offices to set up the machinery of investigation in place with a view to unravel the circumstances surrounding the said fraud and get the culprits apprehending to face the wrath of the law,” read a letter dated May 10, 2024, from First bank to the Lagos State Commissioner of Police.

“I discovered that one Muiz Tijani Adeyinka, a former staff of First Bank was involved in the nefarious posting of fraudulent transactions,” read a statement from the investigating Police officer in charge of the case signed March 26, 2024.

“It was discovered that he made some fraudulent transactions to his wife’s account number (name withheld) domiciled with Zenith Bank, which in turn transferred to other beneficiaries totaling thirty-four accounts which also gave birth to second beneficiaries domiciled with other banks totaling 1,190 accounts,” the statement added.

First Bank obtained an order on April 8 to block the bank accounts of the first and second beneficiaries of the illegally obtained funds from a Federal High Court in Lagos. The bank also obtained additional orders dated April 8 and May 5 from a Jalingo and a Lagos high court to block additional accounts believed to be involved in the incident.

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BOAT: Cristiano Ronaldo’s 2008 Season Leads Ballon d’Or Greatest Vote With 62%

Published

4 hours ago

October 20, 2026

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BOAT: Cristiano Ronaldo’s 2008 Season Leads Ballon d’Or Greatest Vote With 62%—-Cristiano Ronaldo’s iconic 2007/08 campaign at Manchester United leads the Ballon d’Or of All Time fan poll, ahead of Lionel Messi’s historic 2012 season.

Cristiano Ronaldo’s outstanding 2008 season has emerged as the leading choice in the Ballon d’Or of All Time (B.O.A.T.) fan vote, with the Portuguese superstar reportedly securing 62 per cent of the votes.

The initiative, organised by France Football, invites supporters to select the greatest Ballon d’Or-winning season in the award’s history, bringing some of football’s most celebrated legends into the spotlight once again.

According to reports published on Tuesday, October 20, Ronaldo’s first Ballon d’Or-winning campaign remains comfortably ahead of the other contenders as voting continues.

Ronaldo’s Historic Manchester United Campaign

Ronaldo won his first Ballon d’Or in 2008 after a remarkable season with Manchester United, during which he played a key role in the club’s Premier League and UEFA Champions League triumphs.

The Portuguese forward scored 42 goals across all competitions during the 2007/08 campaign, establishing himself as one of the world’s leading players and earning the prestigious individual award at just 23 years old.

His performances combined goalscoring, pace and attacking influence, helping Manchester United secure major honours under Sir Alex Ferguson.

The award also marked the beginning of Ronaldo’s five-Ballon-d’Or career.

Messi’s 2012 Season Trails in the Vote

Lionel Messi’s 2012 Ballon d’Or-winning season is reportedly in second place with 13 per cent of the votes.

Messi’s 2012 campaign remains one of the most statistically remarkable individual years in football history, as he scored a record 91 goals for club and country during the calendar year.

However, the current poll focuses on fans’ choices among the greatest Ballon d’Or-winning seasons rather than determining the official winner of the award.

Ronaldo’s 2008 campaign and Messi’s 2012 achievement have once again brought their historic rivalry into focus, with supporters debating which season deserves the greatest recognition.

Ten Football Legends Included

The B.O.A.T. vote features 10 multiple-time Ballon d’Or winners, including Ronaldo, Messi, Ronaldo Nazário, Marco van Basten, Michel Platini, Karl-Heinz Rummenigge, Kevin Keegan, Franz Beckenbauer, Johan Cruyff and Alfredo Di Stéfano.

The contest allows fans to compare standout seasons from different generations, placing modern football icons alongside some of the sport’s greatest historical figures.

Reports indicate that voting is scheduled to close on October 27, with the final outcome expected after the voting period ends.

A Fan Vote, Not an Official Ballon d’Or Award

Although Ronaldo currently leads the poll, the result remains provisional while voting is ongoing.

The initiative does not change the official Ballon d’Or record. Ronaldo has won the award five times, while Messi has won it eight times.

For now, Ronaldo’s 2008 season holds the reported lead in the fan-led contest, underlining the lasting impact of his Manchester United performances and the continuing interest in comparing football’s greatest individual campaigns.

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trypulsegrid.co

Published

1 day ago

October 19, 2026

KileySengerHyatt7834

PulseGrid Home shows where your household’s electricity goes, live and appliance by appliance. One clip-on sensor in the meter box, alerts when something drifts, and the few easy changes that cut the bill most.

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