EFCC Arrests Lagos Banker For Alleged ₦34m Fraud

The suspect arrested by the EFCC for an alleged fraud in Lagos. Credit: EFCC

 

 

The Economic and Financial Crimes Commission (EFCC) has arrested a Lagos banker, Elizabeth Modupe Osunjuyigbe for an alleged fraudulent diversion of funds to the tune of over ₦34m

In a statement issued on Friday by EFCC spokesman, Wilson Uwujaren, the Lagos zonal office of the anti-graft agency quizzed the suspect said to be an employee of Access Bank Plc.

“The suspect, who was arrested on Friday April 29, 2021, allegedly sent a fraudulent request sometime in January to the Branch Service Manager of Access Bank, Adeola Odeku, Lagos State, to issue a draft of the sum of ₦31,330,165 in favour of one Best Timland Nigeria Limited,” the statement read.

“Investigations revealed that the suspect allegedly forged a solicitor’s letter dated January 19, 2021 directing the bank to issue the draft in favour of Best Timland, claiming that request was for the payment of rent to the landlord of one of the bank’s branches in Akwa-Ibom State.”

The EFCC spokesman said the suspect will soon be charged to court for trial and prosecution.

Ex-Banker Jailed 17 Years For Fraud, To Refund N93m

A combination of photos of Rabiu Dawaki, released by the EFCC on November 23, 2020.

 

The Kano State High Court has convicted a former banker, Rabiu Dawaki, of charges of conspiracy and criminal breach of trust.

Justice Dije Aboki convicted Dawaki in her judgement on Monday and ordered him to restitute N93,232,500.

Mr Wilson Uwujaren who is the spokesman for the Economic and Financial Crimes Commission (EFCC) disclosed this in a statement.

Dawaki was arraigned alongside two others – Abdullahi Rano and Samuel Obende – who are now deceased on 28 counts of conspiracy and criminal breach of trust.

READ ALSO: Court Orders Senator Ndume To Be Remanded In Prison After Failing To Produce Maina

The three defendants, all former employees of an old generation bank, were responsible for receiving, processing, and distributing money to all their bank’s cash centres across Kano, Katsina, and Jigawa States.

They were, however, said to have betrayed the trust of their employers and conspired among themselves to defraud the bank by diverting the funds to their own use.

The convict, alongside his co-defendants, reportedly altered figures to show that they made cash deliveries to designated branches whereas the monies were never delivered.

When they were arraigned on February 26, 2015, Dawaki and his co-defendants pleaded not guilty to the charges, thereby setting the stage for the full trial.

But Dawaki’s co-defendants died and their names were subsequently removed from the charge.

The prosecution called seven witnesses to prove the case against the convict, while the defendant called six witnesses, including himself.

In her judgment, Justice Aboki found Dawaki guilty of seven counts of the charge and convicted him accordingly.

She, however, acquitted him on 21 counts.

The judge convicted the defendant on count one which bordered on conspiracy and counts two, 11, 22, 24, 25, and 26, all of which bordered on criminal breach of trust.

On counts one, 11, 22, 24, 25, and 26, the convict was sentenced to two years imprisonment and a fine of N200,000 on each.

On count two, he was sentenced to five years imprisonment and a fine of N200,000.

Justice Aboki noted that sentence on counts two and 11 were to run consecutively while counts one, 22, 24, 25, and 26 would run concurrently.

Ex-Chinese Banker Admits Receiving Over $12m Bribe

Hu Huaibang, former chairman of China Development Bank, is currently under probe, according to China’s top anti-graft authority.  AFP

 

A former top banker in China pleaded guilty Thursday to illegally receiving over $12 million after being caught last year in President Xi Jinping’s sweeping campaign against corruption.

Hu Huaibang, former party secretary and chairman of the China Development Bank, had taken advantage of his positions to illegally receive money and goods worth a total of 85.5 million yuan ($12.2 million) between 2009 and 2019, heard a court in northern Chengde city.

The accusations included using his status — and staff in other countries — to help obtain and increase bank credit lines, set up an auto finance company, and assist with job promotions, reported the state-run People’s Daily.

Hu pleaded guilty at the hearing attended by more than 30 people including national, provincial and municipal people’s congress representatives, the report added.

He will be sentenced at a later date.

More than one million officials have been punished in Xi’s crackdown on corruption, though critics say it has also served as a way for him to purge political rivals.

Hu had worked his way up China’s financial sector, moving between regulatory positions and state-owned companies before landing the top job at the Bank of Communications.

In 2013 he became chairman of China Development Bank and held the position until September 2018.

But his connection to fallen Chinese oil tycoon Ye Jianming, chairman of CEFC China Energy, appeared to have landed him in trouble.

In Hu’s roles at the Bank of Communications and the CDB, he allegedly helped CEFC secure billions in credit lines for its overseas deals.

Court Finds Banker Guilty Of N700m Fraud

Court Finds Banker Guilty Of N700m Fraud
File photo

 

The Lagos High Court sitting in Ikeja has convicted a former relationship officer with Coronation Merchant Bank, Nsa Ayi, over fraud allegations levelled against him by the Economic and Financial Crimes Commission (EFCC).

Justice Mojisola Dada convicted Ayi on Tuesday after he pleaded guilty to 11 charges bordering on fraudulent false accounting to the tune of N700million, an offence contrary to Section 335(a) of the Criminal Law of Lagos State of Nigeria, 2011.

The EFCC had arraigned the defendant on February 26 for conniving with some unknown persons to move funds, using customers’ electronic instructions meant for investment in the Federal Government of Nigeria (FGN) Bonds, Treasury Bills and Fixed Deposits.

The defendant was also said to have altered instructions and falsified signatures of customers to transfer money into various accounts outside the bank.

The money was said to have been transferred in tranches into the defendant’s Guaranty Trust Bank account, as well as his Zenith Bank account.

At his arraignment, the banker pleaded not guilty and the court ordered that he should be remanded in prison custody.

At the resumed proceedings on Tuesday, the defendant’s counsel Robert Clarke said that after a close perusal of the prosecution’s proof of evidence, the defendant had decided to change his plea from not guilty to guilty.

Following his guilty plea, the EFCC prosecutor Rotimi Oyedepo then reviewed the facts by calling the investigative officer of the case, Tosin Owobo, who gave overwhelming evidence about how Ayi forged instructions of Africa Alliance Insurance Company, as accounting officer and siphoned more than N700m.

Justice Mojisola Dada convicted the defendant as charged and deferred sentencing till March 22.

President Buhari Felicitates With Bola Kuforiji-Olubi At 80

Bola Kuforiji-Olubi, Muhammadu BuhariPresident Muhammadu Buhari has felicitated with distinguished businesswoman, banker, economist and accountant, Otunba Ayora (Dr.) Bola Kuforiji-Olubi, OON, who recently clocked 80.

The President recalled the former minister’s decades of distinguished career in the private and public sectors of national life.

He noted that the contributions of the first female chairman of one of the first generation banks in Nigeria, UBA, would remain inspiring to the younger generation.

“It is not surprising that she is a proud and well-deserved recipient of the National Honour, fellowships, awards and honorary degrees from within and outside the country,” he said.

President Buhari particularly expressed delight that the economist had remained a pace-setter and leader in banking, manufacturing and entrepreneurship not only in Nigeria, but also in Sub-Saharan Africa.

He noted that God has been kind to her and prayed for continued health as well as longer life for the octogenarian, author and philanthropist to “enable the nation and humanity benefit from her wisdom and wealth of experience”.

Dipp Back To ‘Play Love’

Nigerian RnB singer, Dipo Ogundele popularly known as Dipp is making a return to the music scene with the release of his new song, ‘Play Love’.

Play LoveThe singer who gained mainstream prominence in 2010 for his song dangerous is seeking to regain the spotlight with the track produced by Gray Jonz.

Banker arraigned for violating traffic law

Yinka Johnson, a 35 year old banker who was alleged to have killed an official of the Lagos State Traffic Management Authority (LASTMA), Mr. Hameed Balogun while driving against traffic in Ajah area of the state, was on Tuesday  arraigned before the Igbosere Magistrate Court sitting in Lagos island.

However, Johnson was arraigned on a one-count charge of reckless driving and not manslaughter.

She pleaded not guilty when the charge was read to her.

Police prosecutor, Inspector Agoi Oluwagbemileke, told the court that Mrs. Johnson was arrested on the 10th of Aug at 8.30 am at Mega Chicken area of Ikota in Lekki, Lagos for recklessly driving against traffic.
The defendant (Johnson) was driving a range rover Jeep with registration number CY 276 LSD.

The prosecutor, said that she was caught driving on one way without reasonable consideration for other road users.
Oluwagbemileke argued that the offence is punishable under Section 29 (1) of the Lagos State Road Traffic Laws of 2003.

He added “the accused refused to obey government officials who were trying to stop her from taking the road”.

But, defense counsel, led by Mr. Emeka Okpoko however urged the court to grant her bail arguing that traffic offence was a bail-able offence.

In applying for bail, Okpoko urged the court to grant her bail in liberal terms since the gravity of the offence was not severe.

He added that the defendant being a banker will not abandon her job adding that she is a nursing mother.

He further told the court that the defendant would always be available to attend to court proceedings.

Okpoko said contrary to newspaper publications, the charge before the court showed that the defendant was not the one that killed the LASTMA official.

The trial magistrate, Mr. Jacob Adegun, granted her bail in the sum of N50, 000 with one surety in like sum.

The case has been adjourned till September 5, 2012 for mention.

Johnson, who is an employee of Stanbic IBTC, was arrested by a traffic official for contravening the law.

It was gathered that the LASTMA official collected her car keys and was about to cross-over to the other side of the road when he was crushed by a fast moving car.

Murdered banker: Stepmother confirms husband was abusive

The case of late banker, Titilayo Omosoje Arowolo who was allegedly murdered by her husband, Akolade Arowolo came up today at the Lagos High Court sitting in Ikeja.

The victim’s step mother, Mrs Adetoun Yeside Oyakhire, told the court that the relationship between the couple was already strained before her murder.

An emotional Mrs.Oyakhire, who was the fifth prosecution’s witness, gave a vivid account of the harrowing relationship that existed between the deceased and her husband during their two-year-long marriage.

She told Justice Lateefa Okunnu that the last time the deceased came running home in January 2011 and had told her father that she was tired of the marriage and wanted to file for divorce.

According to Mrs Oyakhire, Titilayo had told her family that her housekeeper had reportedly caught her husband in bed with another woman. The deceased had also discussed the matter of his infidelity with his mother before moving back to her father’s house.

The witness, who was led in evidence by the Director of Public Prosecution (DPP) Mrs. Olabisi Ogungbesan, told the court that the late Titilayo’s father, before going back to Kano, warned her not to return to her husband’s house.

The stepmother said that Titilayo however went back to her husband when he came in April to beg and asked for forgiveness adding “I think he succeeded in convincing her that he is a changed person”.

In another account, Mrs Oyakhire said that three months after their marriage, they had a quarrel.

“I can’t remember how it started but I remembered that Kolade chased her round the house with a knife. She was still breast feeding her baby then. He succeeded in snatching the baby from her and took her to his mother at Ejigbo”.

She said that Akolade’s mother later brought the baby back to Titilayo in her father’s house.

In yet another account the step mother told the court that Akolade had at a time threatened to throw the deceased from a top floor and that her father advised her to report the threat at the police station for documentation “but I am not sure she did”.

The fourth prosecution witness, Assistant Superintendent of Police (ASP) Titus Ogbonna who testified before Mrs Oyakhire had told the court that based on the investigation he conducted, he was certain that Akolade Arowolo murdered his wife, Titilayo Omosoje Arowolo.

He stressed that he based his conclusion on the findings in the investigation he conducted into the matter.

Under cross examination by the counsel to the defence, Mr. Olanrewaju Ajanaku, the ASP also told the court that there was enough circumstantial evidence linking Arowolo to the death of his wife, Titilayo.

The case was adjourned until 27 March when the hearing will continue.