Providus Bank Limited, some of its staffers and another commercial bank are currently embroiled in an alleged N1.1 billion fraud scandal.

We learnt that the bank officials are being quizzed by the Nigeria Police following a transfer of about N1 billion by a bureau de change operator in Abuja, Shamsudeen Ahmed through the banks to suspected criminals, who reportedly offered to sell $1 million from Dubai to him and the mysterious disappearance of the huge sum of money.

It was learned that detectives are looking into the involvement of the bank staff in the illegal transfer of the money after the suspects provided three account details where the complainant paid in the money only to later discover that the suspects conspired to defraud.

In a petition written on behalf of the complainant by Anthony Odule, and addressed to the Inspector General of Police, the complainant alleged that on December 8, 2023, he was contacted by the suspects, Gambo Dahiru, Ibrahim Mohammed, Shaibu Mohammed and Francis Azubuike aka Frank, who deceived him to believe that there was a genuine $1 million for sale from Dubai, United Arab Emirates, which he innocently indicated interest.

According to the petition, “Our client stated that the suspects provided the following account details: Account Name: Ushaib Global Investment Limited; Account number; Account number: 5400393231, domicile in (Providus Bank), Account name; Yadiz Oil and Gas Plc Nigeria Limited account; domicile in (a third-generation bank) and Account Name: A&M. Technology Red Set; Account number – 5404168804, (Providus Bank), where the complainant paid in N830 million, N330 million and N10 million, respectively.

“Our client stated that upon preliminary investigation, it was found that the suspects conspired among themselves to defraud our client of his hard-earned money as they do not have dollars anywhere to give to our client but have shared the money amongst themselves.

“What is worrisome to our client is that he borrowed part of the money he sent to the suspects and his conspirators, which non-payment will greatly affect his reputation negatively.”

It was gathered that immediately the complainant suspected foul play, he sent letters to all the banks where the money was sent, notifying them of the development and appealing that they stop the payment of the money and refund it to him.

However, according to the complainant, “One of the banks has refunded part of the money but the other one refused to send my money back to me. They claimed that the owner of the accounts said they gave me a value for the money which is not true.

“If they insist on telling that lie, why did the bank not ask for evidence? I asked the bank to return my money or freeze the account where the money was paid but they have not done anything. They have all the power to stop this fraud but they failed to do it.”

Police sources said detectives have been interrogating the officials of the banks while six of the suspected fraudsters have been arrested and they have refunded some amount of the money.

The Economic and Financial Crimes Commission (EFCC) has arraigned a lawyer for allegedly defrauding his victim of N1.3 billion.

The lawyer, Alexander Ozougwu is being prosecuted by the Uyo Zonal Command of the EFCC. The anti-graft agency arraigned the suspect at a Federal High Court in Uyo on 12 February.

In a statement on its website on Thursday, the Commission’s spokesperson, Dele Oyewale said the lawyer disguised as a registered bureau de change operator with the Central Bank of Nigeria to defraud his victims.

Mr Oyewale said the victims — four of them — alleged that upon presenting himself as a bureau de change operator, the suspect earned their trust and collected the passwords to their betting accounts and promised that he was going to help them fund their accounts, but ended up diverting their funds.

“Investigation into the allegations revealed that the defendant was operating a Ponzi scheme under the guise of exchanging dollars for his victims and channelling most of the funds to various betting platforms. A total of N1, 323, 850. 000. 00 was discovered to have been diverted from the accounts of the petitioners,” the anti-graft agency said.

Charges
The lawyer was arraigned on six charges of obtaining money by false pretence, an offfence, the EFCC said is in contravention of provisions of Section 18(2)(d) of the Money Laundering (Prevention and Prohibition) Act 2022.

“That you Mr Ozougwu sometime in September 2024 in Nigeria, within the jurisdiction of this Honorable Court, did take possession of the total sum of N268,850,000 through a bank account with account name-starlight attorneys which you knew formed proceeds of an unlawful act to wit: obtaining money by false pretence and thereby committed an offence contrary to Section 18(2)(d) of the Money laundering (Prevention and Prohibition) Act 2022 and punishable under Section 18(3) of the same Act.

“That you Mr Ozougwu sometime in July 2024 in Nigeria, within the jurisdiction of this court, did take possession of N213,000,000 through a bank account with account name- starlight attorneys which you knew formed proceeds of an unlawful act to wit: obtaining money by false pretence and thereby committed an offence contrary to Section 18(2)(d) of the money laundering (Prevention and Prohibition) Act 2022 and punishable under Section 18(3) of the same Act,” the EFCC said.

According to the EFCC, the defendant, pleaded not guilty, prompting the prosecution counsel, Joshua Abolarin to pray the court to remand him at a Correctional Centre, pending trial.

The defence counsel C. M. Onuchukwu, however, informed the court of a bail application which he said was filed on self-recognisance for the defendant, and also assured the court that he shall make himself available for trial, the anti-graft agency said.

After listening to both counsels, the judge granted the defendant bail in the sum of N500 million with two sureties in like sum.

“The sureties must be civil servants of grade level 12 and above and must have landed properties within the jurisdiction of the court. The court also ordered the defendant to deposit his international passport and two recent passport photographs with the court,” the EFCC said.

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has sued one Oseni Adeolu Olayinka, an official of the Federal Ministry of Water Resources, to court for alleged fraud, money laundering.

The civil servant was accused of secretly including his wife and son on the Integrated Personnel and Payroll Information System (IPPIS) portal of the ministry between 2023 and 2024.

Oseni Adeolu Olayinka was arraigned by the ICPC before Justice Obiora Egwuatu of the Federal High Court in Maitama, Abuja, on Thursday, facing a three-count charge related to money laundering.

In a suit marked FHC/ABJ/CR/584/2024, the commission accused Olayinka of acquiring millions of naira by including his wife and son on the Integrated Personnel and Payroll Information System (IPPIS) portal of the ministry between 2023 and 2024 and corruptly receiving salaries through his wife’s and son’s accounts, thereby committing an offence of money laundering.

One of the counts against him read: “That you, Oseni Adeolu Olayinka (M), Executive Officer, Federal Ministry of Water Resources, Abuja, between January 2023 and April 2024 or thereabout, within the jurisdiction of this Honourable Court, indirectly took possession of the sum of N2,843,524.41K (Two Million, Eight Hundred and Forty-Three Thousand, Five Hundred and Twenty-Four Naira, Forty-One Kobo) through the Stanbic IBTC Bank account number 0040450514 belonging to your wife, Mrs. Mngohol Christiana Agaku, which funds you reasonably ought to have known formed part of the proceeds of an unlawful act, to wit: corruption, and you thereby committed an offence contrary to Section 18 (2) (d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”

Olayinka, however, pleaded not guilty to all the charges read to him.

This prompted his counsel, Paul Asimiakeokha, to move an application for him to be granted bail on very liberal terms, which was not opposed by the prosecution counsel, C.K. Igwedibia.

Ruling on the bail application, Justice Egwuatu committed the defendant to a N5 million bond with a surety who must be a civil servant not below grade level 12 in the federal civil service.

Additionally, the presiding judge said that the surety must provide his/her employment and promotion letters and must have a landed property in Abuja, which must be verified.

The matter has been adjourned to the 29th of April for the commencement of trial.