The Economic and Financial Crimes Commission (EFCC), Ibadan zonal office, has arrested one Kehinde Olumide Agbabiaka, a sales agent of a foremost bank for allegedly converting the sum of N137m bank money for personal use within 30 months.
According to a statement issued by the Spokesperson of the commission, Wilson Uwujaren, and made available to journalists, Agbabiaka’s arrest was sequel to a petition jointly signed by the bank’s Regional Security Officer and the Cluster Control and Compliance Manager.
Uwujaren informed that the petition from the bank had alleged that “the suspect suppressed, diverted and stole a total sum of N137,000,000 from personal and corporate accounts of a customer in Ibadan.”
He was said to have engaged in issuing ‘fake bank tellers’ to his customers to hide his illegal diversion of the funds.
Uwujaren disclosed that the petition was filed on August 20, 2019, wherein it was alleged that “Agbabiaka committed the offence between January 2017 and July 2019.”
According to the statement, “the suspect, who was the account officer attached to the customer, was said to be visiting the business premises of the victim weekly to collect cash with the understanding that he would remit same to his accounts domiciled in the bank’s Challenge, Ibadan branch.
“But, instead of depositing the money, Agbabiaka was said to have at different times remitted only a portion and on many occasions diverted the whole sum to personal use.
“In order to cover his criminal acts, the suspect, according to the petition, would rather issue fictitious bank slips to deceive the customer that he truly deposited the sums.
“This continued until the customer reviewed the statement of his account and reconciled the same with the cash collection register. It was then they discovered Agbabiaka’s fraudulent deeds, prompting the bank to put up the petition.
So far, the EFCC investigators have established a prima facie case of diversion and stealing against the suspect.”
The EFCC added that when probed further, “investigations also revealed that he had used the suppressed sums to build houses, purchase cars, invest in fixed deposits and insurance policies. He also gave part of the loot to people as friendly loans.
Some of the items have been recovered and registered as exhibits.
The suspect, Uwujaren added will be charged to court as soon as investigations are concluded.