Fcmb Staff Arrested For Stealing N12.5m From Bank

EFCC BOSS, FARIDA WARIZI.

Abuja (THEWILL) - The Economic and Financial Crimes Commission (EFCC) has arrested a banker with First City Monument Bank (FCMB), Mr. Olajide Ogundipe, for stealing N12.5 million naira from the bank.

The staff attached to its Lokoja branch had systematically moved funds between the branch assets account and credited an ATM account with the same value overtime, before cashing his loot at a cash dispenser.

The bank had noticed the fraudulent transactions on the 4^th of September and informed the EFCC.

In its investigations, EFCC investigators discovered series of suspicious debits between the accounts in question and subsequently arrested the staff.

Mr. Ogundipe in his confession, admitted to manipulating the accounts in question and making huge withdrawals of N500, 000 naira at ATMs in Lokoja. He said he used a part of the money to fund his wedding in 2008.

The EFCC has recovered all the stolen funds and will soon charge the accused to court for fraud according to its spokes person.