EFCC Arrests Two Undergraduates, Others For Defrauding Bank Of N2.05bn

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L-R: MAHMOUD, FRIDAY & SAMUEL
L-R: MAHMOUD, FRIDAY & SAMUEL

The Economic and Financial Crimes Commission (EFCC) yesterday announced that it had arrested two undergraduates of the University of Jos (UNIJOS) – Isaiah Friday and Azzaior Samuel for alleged N2.05billion fraud.

The anti-graft agency also arrested two bureau de change operators – Salihu Liman Mahmoud and Dan Asabe Ibrahim in connection with the alleged fraud.

According to the EFCC, the suspects infiltrated Union Bank’s database and manipulated it to steal N2.05billon.

The commission said it has however recovered N475.3million from the suspects.

Other items recovered from the suspects include furniture worth N10 million from Mahmoud’s one-bedroom apartment in Yaba, Lagos Mainland; four vehicles; landed properties in Kano and Kaduna and a four-bedroom duplex worth N45 million in Lagos

A statement by the Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, stated that the suspects are members of a syndicate that specialize in breaking into computer data base of financial institutions.

It said their arrest followed a report by Union Bank of Nigeria, Plc.

The statement said: “The fraudsters, who specialize in breaking into the computer data base of financial institutions in order to carry out dry posting of funds, were arrested in Lagos and Jos.

“Their arrest came on the heels of a petition which the Commission received from Union Bank of Nigeria Plc, Marina, Lagos sometime in January 2013, alleging that a criminal attack had been launched on its data base known as ‘Flexcube’, by unknown criminals.

“The criminals falsified the bank records and accounts and created unjustified huge opening balances in several accounts across the bank’s branches and subsequently transferred funds from those accounts to several accounts in other banks.

“The petition, which was signed by A.F Olufade, Head of Fraud Investigation at the bank, said cash withdrawals and electronic transfers totalling over N2.05billion was involved in the scam.”

The statement added: “Upon receiving the petition, the Commission’s Banks and Other Financial Institutions Fraud section swung into action.”

Investigations by the commission, however, revealed that Friday, who was carrying out computer system maintenance services for one of the bank’s branches in Jos on a part-time basis, paved the way for the fraudsters to penetrate the bank’s database.

Friday was traced and arrested. His arrest led to the arrest of Azzaior Samuel.

“Investigations further revealed that Mahmoud, who is the mastermind of the fraud with others now at large, had approached Samuel if he knew anyone working with the Union Bank. Samuel gave Friday’s contact and Friday was contacted.

“They told him they needed access to the bank’s database in order to carry out some postings. They promised to give Friday N1, 500,000 if the deal succeeded. Friday obliged and on the day the crime was committed, Samuel disguised as a colleague of Friday who had accompanied him to work in order to gain access to the bank’s premises. They carried out the postings to six different company accounts domiciled in Union Bank’s Marina branch in Lagos.

“The accounts are: Gona Bureau De Change Limited, Jaxmine Bureau De Change Limited, Dan Kawu Bureau De Change Limited, Godswill Great Communications, ZHG Services Limited and A and B Console Limited.

“The postings were carried out and the syndicate thereafter went to the bank to draw all the funds. Friday was paid as promised and other syndicate members now at large shared the remaining balance.”

The EFCC said it had so far recovered N475,326,720 from the suspects, including $2,129,900 and N134,542,720.

The statement added: “Other items recovered include: furniture worth N10 million from Salihu Liman’s one-bedroom apartment in Yaba, Lagos, four vehicles, landed properties in Kano and Kaduna and a four-bedroom duplex worth N45 million in Lagos.

“Investigation into the scam continues.”

 

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8 COMMENTS

  1. What do u want undergraduates (on strike) nd unemployed graduates to do? Better meet ASUU’s demand so they could call off this strike. You will see more from d striking stuudents if u dnt tackle dis prblm amicably. Am tired of staying idol at home

  2. This things boils down to the government cos wen the subsidy issue arose we all just waved it abi the EFFCC were they not in Nigeria and my broo way teif and the same law makers granted him bale and as him to pay just 25 naira at off trillions of dollars…… Pls u ppl should not blame does guys cos they are coping from the original….

  3. Naija forever. The government keeps preaching of the achievement of 2015 MDGs goal, while this is the only country where everything is control by few and share by the few.
    Students today in Nigeria are like empty vessel. No one cares about them or the potentials they have. Now undergraduate students have the opportunity of hitting over 2bn. What will happing next if care is taking.

  4. I’m not suprised! This is what we have been trying to avoid… See what the ASUU strike and the FG has turned the Nigeria students to – some of the guys have prematurely graduated to becoming fraudters and robbers, whereas, some ladies prostitutes. This is a very big carelessness on our leaders in this country and the so-called ASUU claiming rights for students. If care is not taken, this ‘lukuluku’ attitude and demeanour of our goverment and leaders will completely turn Nigeria down with less or no recognitions in the committee of Nations! I pray God will take control and this country will rise again…

  5. I respected these guys, infat kudos to them, they are very talented, but happy holiday in prision. Thereare a lot of people who has such talent, which can also help in the development of the nation and also our ICT world, but nigeria will negelect them, and they have to test their brain on something. Catch us young, b4 we get wide. So that’s ma advice to the federal govt. As I am I have love for technology, and also wish to go deep in it. I am also looking A way to go outside the country and acquire more. Knowledge it about, and don’t care if I was retain in that counrty that I want to accquire the knowledge.

  6. This is fruit of bad leadership. There are many hot blooded, hot-headed and over zealous young undergraduates out there warming up for more grevious crimes if they are not engaged positively.

  7. my name is jama fatima zahra i live in turkey .one mounth ago the lloyds banking groups always send to me mail and call me in my number the bank said i have 25 milion dolars in the bank i believe this people and i send 500 dolars in western union in this name: Grace Anderson and the transfer money not com the bank aigaine need 650 euro iam aigaine send i have all documents to western union to me send but this people just play to me .

    then call me aigaine Mrs Waziri Farida i dont know if this woman correct or aigaine playing to me.so this woman said wants help me to fined my money and always call me and send to me mail but she said send to her 150 doalrs about some documents to send money in my bank i said to her i dont have 150 doars to send but alyaws every day send to me mail but iam not sure i cant beleived this people so can you help me pleaes to fined my money and can you tell me this woman Mrs Waziri Farida wants help me or layer i send to u all mail send to me before.

    my ful name: JAMA FATİMA ZAHRA

    TEL: +905383526720

  8. RECEIVED YOUR EMAIL AND I AM VERY HAPPY TO INFORM YOU THAT YOU ARE INTO WRONG HAND, I WANT YOU TO RECONFIRM YOUR ADDRESS AND CURRENT PHONE NUMBER .

    I WANT TO ASSURE YOU THAT I WILL PROCEED WITH YOUR DELIVERY AS SOON AS I CONFIRM THE PAYMENT OF $250 FROM YOU AND I WANT YOU TO UNDERSTAND THAT IF YOU WANT IT TO BE WIRE INTO YOUR BANK ACCOUNT I WILL GIVE THE BANK OTHER TO PROCEED WITH WIRE TRANSFER BUT IT WILL COST YOU 3200$ TO GET THE APPROVE FROM PRESIDENT OF NIGERIA. PLEASE GET BACK TO ME AS SOON AS POSSIBLE OR CALL ME: +234813329838 WILL BE HAPPY. I AM A MEMBER OF E.F.C.C CHAIRMAN AND I HAVE RIGHT TO HELP YOU ON THIS TRANSACTION SO GET BACK TO ME URGENT
    MRS WAZIRI FARIDA

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