Nigerian Bank Manager Arrested for Allegedly Stealing N650 Million From 35 Customers

Nigerian Bank Manager Arrested for Allegedly Stealing N650 Million From 35 Customers

  • The Ogun state police command officially confirmed the arrest of a branch manager of a popular tier-1 bank
  • Mr Adeniyi Talabi is alleged to have defrauded 35 customers of the bank for the sum of N650 million
  • The now-suspended bank manager and his accomplices will face charges in court once the investigation is concluded

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Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the stock market.

The Osun state police command announced the arrest of one Mr Adeniyi Talabi, a manager at a branch of a major bank in Osogbo, for allegedly embezzling N650 million from 35 bank customers.

This development follows shortly after a court sentenced Nwachukwu Placidus, a former manager of a well-known bank in Onitsha, Anambra state, to 121 years in prison for embezzling N112 million from a customer.

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Police arrest bank manager
The police spokesperson said that Talabi and his accomplices will face charges in court once the investigation is concluded. Photo credit - HumAngle, Fresh FM Nigeria
Source: UGC

Manager, accomplices to be arraigned

According to Punch, Yemisi Opalola, the command's spokesperson, said that Talabi committed the fraud by deceiving the victims and siphoning the funds through an illicit method known as proof of funds.

The statement partly read:

“The Osun State Police Command in its efforts to rid off criminal elements from the state has arrested a serial fraudster, one Adeniyi Sunday Talabi, ‘m’ 47 years, a resident of Army Barracks Area, Kelebe, Iragbiji Road, Osogbo, a manager in one of the First Bank PLC branches in Osogbo for an offence of fraud, Obtaining money under false pretence (OBT), Conversion and Stealing amounting to the sum of N650,850,000 in an illegal product called PROOF of FUNDS which involved a total number of 35 victims (people)."

Opalola mentioned that the bank has suspended Talabi and that the investigation is progressing well.

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She also stated that Talabi and his accomplices will face charges in court once the investigation is concluded.

She added that the state commissioner of police, Mohammed Umar, has reaffirmed the command's dedication to eliminating criminal activity within the state.

She cautioned criminals that Osun will not serve as a refuge or hiding place for them.

In a previous report, Legit.ng reported that a former staff of Stanbic-IBTC Bank, Ajayi Olusola, was arraigned in court by the police for allegedly defrauding the bank of N205 million.

According to FITC's "Report on Frauds and Forgeries in Nigerian Banks", only 20% of Nigerian bank employees implicated in fraudulent activities were dismissed in 2023.

Ogun banker fakes abduction over N1.7m debt

In related news, Legit.ng reported that the Ogun police officially verified the staged abduction of Olumide Openaike.

Openaike, an employee of Kemta Oloko Microfinance Bank, was initially reported missing and later located in Mokwa, Niger state.

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According to the police, Openaike orchestrated his own kidnapping to divert attention from his outstanding debt of N1.7 million.

Proofreading by Nkem Ikeke, journalist and copy editor at Legit.ng.

Source: Legit.ng

Authors:
Victor Enengedi avatar

Victor Enengedi (Business HOD) Victor Enengedi is a trained journalist with over a decade of experience in both print and online media platforms. He holds a degree in History and Diplomatic Studies from Olabisi Onabanjo University, Ogun State. An AFP-certified journalist, he functions as the Head of the Business Desk at Legit. He has also worked as Head of Editorial Operations at Nairametrics. He can be reached via victor.enengedi@corp.legit.ng and +2348063274521.

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