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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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JUST IN: Kellyrae Wins BBNaija Season 9 No Loose Guard N100m Grand Prize [VIDEO]

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Kellyrae

JUST IN: Kellyrae Wins BBNaija Season 9 No Loose Guard N100m Grand Prize [VIDEO]—-Kellyrae, Big Brother Naija ‘No Loose Guard’ housemate, has been crowned winner of the season.

TCN reports that Kellyrae was announced with on the 71st day of the show.

Ebuka Obi-Uchendu, host of the show, Ebuka, announced the winner on Sunday.

The eight housemates who made it to the finals were Soj, Anita, Nelly, Onyeka, Wanni, Victoria and Ozee.

As the competition winner, Kellyrae goes home with N100m of prizes.

Watch the moment below

Click HERE to watch

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Bobrisky: NCoS Anticipate Investigation outcome, Clarifies Inmate Admission Process

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Bobrisky

Bobrisky: NCoS Anticipate Investigation outcome, Clarifies Inmate Admission Process—-The Nigerian Correctional Service (NCoS) has confirmed an ongoing investigation into allegations surrounding convicted cross dresser, Idris Okuneye, also known as Bobrisky’s accommodation, with findings pending.

Abubakar Umar, Deputy Controller of Corrections (DCC) Service Public Relations Officer (SPRO) disclosed this in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja.

Umar also highlighted the service’s commitment to rehabilitation and safety through its comprehensive inmate admission process.

NAN recalls that Bobrisky was convicted for mutilating the naira in April and was sentenced to six months in jail.

NAN also reports that Mr Vincent Otse, social media influencer and human rights activist known as Very Dark Man (VDM) published an audio recording which captured Bobrisky allegedly saying that he spent his jail term in a private apartment.

The audio also captured Bobrisky allegedly saying that he paid N15 million to Economic and Financial Crimes Commission (EFCC) officials to drop charges of money laundering against him.

Meanwhile, the Federal Government, On Monday, Sept. 30,  inaugurated an independent investigative panel to prove allegations of corruption and gross violations of standard operating procedures within the NCoS.

The Minister Of Interior, Dr Olubunmi Tunji-Ojo, who inaugurated the committee said that the committee must also look at the recent allegations that some correctional service personnel had provided alternative accomodation for Bobrisky.

Umar, however, explained that inmates undergo comprehensive assessments to determine security risks, needs, and responsivity issues when brought to custodial centres.

According to him, the admission board evaluates each inmate to ensure safe housing and effective rehabilitation.

Umar who, outlined the service’s rigorous admission process for inmates, added that adherence to human rights principles through the approach was also paramount.

“Well, upon conviction of every offender from court, either awaiting trial or convicted, once they are brought to our facility, there is a process they go through before and during admission.

“Let me say during admission, there is what we call admission board, which comprises the officer in charge, the second in command, the medical officer in charge of the custodial center, the record officer and other relevant officers.

“They will go through the information contained therein in the warrants, also, before he will be allocated cell, there is what we call, determination of security.

“Determination of security refers to one’s risk assessment. The person risks self harm, safety of other inmate and officers. We also have what we call needs assessment, which is focused on criminogenic need areas.

“These are behaviours that may cause, criminal behavioural and other criminological needs.These are the things that we look into before an inmate is allocated cell.

“Furthermore, we also look at what we refer to as responsivity issues. There are things that can affect his participation in intervention or make it difficult for him to adjust to custodial life.

“So, having worked all this in, then it will be determined which cell such inmates will be allocated to,”he maintained.

According to Umar, during Bobrisky’s court appearance and subsequent admission to our facility, he was asked to declare his gender and he identified himself as male, but do not forget that, there are some other features that are on him.

“So because of those determination, I mean, what I refer to as classification and also determination of security of the custodial center, he was given an appropriate cell where he was kept.

“This is to also ensure that, he is not under threat within our custodial centers and he is kept safe also.

“Well, one thing I want to say here is that, the Minister of interior, has set up a committee to investigate the said alleged Bobrisky staying outside our custodial center.

“So until the determination of such or the outcome of such investigations, I think we should let it rest.

“I am only telling you that once an inmate or people are convicted, or are brought to our custodial centres, we have a standard of treatment to them during admission.

“They will be put through checks and these checks guide us on determination of security of such person both to the person and to the custodial center.

“But as to whether he was kept in our custodial facilities or he was kept outside the facility, until the determination of the outcome of the investigation on the allegations, I won’t be able to speak further on that,”he maintained.

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