N1.4bn bank fraud: EFCC arrests Kogi Assembly candidate with N326m, $610,500 cash

The Economic and Financial Crimes Commission (EFCC) on Tuesday informed that its operatives arrested the Kogi State House of Assembly candidate of the New Nigeria Peoples Party (NNPP), Ismaila Yusuf Atumeyi, with N326million and $140,500 cash in a sting operation last Sunday.

EFCC spokesman, Wilson Uwujaren, informed in a release he signed and made available to Tribune Online, that Atumeyi, who is seeking to represent Ankpa II state constituency in the Kogi State House of Assembly, was arrested alongside one Joshua Dominic, an alleged serial fraudster, at Macedonia Street, Queens Estate, Karsana, Gwarinpa, Abuja.

Following their arrests last Sunday, a former bank employee, Abdulmalik Salau Femi, who allegedly supplied the inside information that facilitated the attack on the bank by the syndicate, was nabbed at the Radisson Blu Hotel in Lagos on Tuesday.

“Following his arrest, a search was conducted on his home in Morgan Estate, Ojodu where a total of $470,000 USD was recovered,” the EFCC spokesman informed.

According to Uwujaren, the three suspects were arrested following months of investigation into the hacking of one of Nigeria’s commercial banks by a syndicate of fraudsters who pulled off a heist of N1.4billion.

“The syndicate allegedly moved N887million into the account of Fav Oil and Gas Limited, from where the monies were paid to several Bureau de Change operators and some auto dealers for exchange into United States Dollars and purchase of high-end cars.

“Dominic, who has severally been arrested for fraud, allegedly helped Atumeyi perfect the hacking plan through Abdumalik. Dominic, a self-styled investment expert and managing director of Brisk Capital Limited was arrested in May 2021 by the Special Fraud Unit of the Nigeria Police for alleged N2billion investment scam. He allegedly defrauded over 500 persons in a phony investment scheme,” Uwujaren stated.

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He disclosed that two Range Rover Luxury SUVs were also recovered from both Atumeyi and Dominic.

The anti-corruption commission’s spokesman stated that the suspects would be charged to court as soon as investigation was concluded.

Meanwhile, EFCC has expressed concern over rising spate of cyber attacks on banks and the reluctance of the institutions to report such breaches to law enforcement.

While warning that such reticence would only embolden the criminals, the EFCC appealed to financial institutions to collaborate with it to secure the financial sector from threats of cyber-attacks.

The anti-graft agency had in the wake of the recent announcement by the Central Bank Nigeria (CBN) of plans to redesign and re-issue higher denominations of the Naira, warned Bureau de Change operators to be wary of currency hoarders who would attempt to seize the opportunity to offload the currencies they had illegally stashed away.