First Bank

Wednesday, February 26, 2014

E.F.C.C Arraigned Another Union Bank Staffer For Fraudulently Transferring N150m Into Diamond & Zenith Bank Accounts!

The Economic and Financial Crimes Commission, EFCC, on Tuesday, February 25, 2014 arraigned Akindoyin S. Kehinde a former employee of Union Bank Plc before Justice Mohammad Ishaq Sani of the Federal High Court, Akure, Ondo State.

The accused was docked on one count charge bordering on failure to exercise due diligence before confirming payment of one hundred and forty six million naira from the account of Godwill Comm Services domiciled in the Akure branch of the bank.

The scam involving was reported to the EFCC on January 15th, 2013 through a petition by Union Bank of Nigeria Plc. The bank reported an attack on its database resulting in a mega electronic transfer of funds totalling over N2, 055,000,000.00(Two billion, fifty -five million naira) into several accounts in other banks. 

Other suspects implicated in the scam have been arraigned by the EFCC in courts across the country.

Specifically, Kehinde was alleged to have facilitated the confirmation of payment of N146, 000,000.00 (One Hundred and Forty Million Naira only) from the account of God Will Comm Services out of the N350, 000,000.00(Three Hundred and Fifty Thousand Million Naira) fraudulently transferred into it by hacking into Union Bank database (flexcube). The payment was allegedly made into various accounts in Diamond and Zenith banks.

The charge reads: “That you Akindoyin S. Kehinde on or about the 11th  of January 2013 at Akure within the jurisdiction of this honourable court, whilst being an employee of Union Bank Plc fails to exercise due diligence in relation to conduct of financial transactions with one God Will Comm Services by confirming and authorising payment of the sum of N146,000,000 (One Hundred and Forty Six Million Naira) fraudulently transferred by hacking into Union Bank database (flexcube) and transferring the sum of N350,000,000 (Three Hundred and Fifty Million Naira)  into Union Bank Account of Godwill Comm Services domiciled in Akure. You thereby facilitated the crediting and withdrawal of the sum of N146, 000,000 (One Hundred and Forty Six Million) by God will Comm Services to various accounts in Diamond Bank, Zenith Bank and God Will Comm Service and thereby committed an offence contrary to Section 7(3) and punishable by Section 7(3) (b) of the Advance Fee Fraud and other related offences Act, 2006″.

The defendant pleaded not guilty to the charge.

Justice Sani   adjourned the case to March 19, 2014 for trial and ordered that the defendant be remanded in Olokuta prison, Akure.

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