EFCC Reclaims N802m After Man Diverts Mistaken N1.3bn First Bank Credit to Mother, Sister’s Accounts
EFCC Reclaims N802m After Man Diverts Mistaken N1.3bn First Bank Credit to Mother, Sister’s Accounts
EFCC Reclaims N802m After Man Diverts Mistaken N1.3bn First Bank Credit to Mother, Sister’s Accounts
The Economic and Financial Crimes Commission (EFCC) has recovered a total of N802,420,000 from a suspect, Ojo Kingsley, who unlawfully took possession of over N1.3 billion mistakenly transferred into his account by First Bank Nigeria Plc.
The recovery was carried out by the Benin Zonal Directorate of the EFCC and formally handed over to First Bank in Abuja. The EFCC’s spokesperson, Dele Oyewale, disclosed this in a statement issued on Tuesday.
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According to the statement, First Bank had petitioned the EFCC after discovering that a system glitch led to the erroneous transfer of over N1.3 billion into Kingsley’s account. Investigations revealed that instead of reporting the error, the suspect converted the funds for personal use.
Oyewale stated that Kingsley transferred a significant portion of the money to the bank accounts of his mother, Itohan Ojo, and his sister, Edith Okoro Osaretin. He also used part of the funds to complete a building project and to finance a flamboyant lifestyle.
“Following extensive investigations, the commission recovered the funds from the identified bank accounts and subsequently handed over the recovered sum to First Bank Nigeria Plc in bank drafts,” the statement said.
The Acting Director of the EFCC Benin Zonal Directorate, Deputy Commander of the EFCC, Sa’ad Hanafi Sa’ad, handed over the recovered money to officials of the bank. Speaking during the handover, Sa’ad reaffirmed the commission’s commitment to its mandate.
“The EFCC Establishment Act empowers us to trace and recover proceeds of crime and restitute victims. In this case, First Bank was the victim, and that is exactly what we have done,” he said. “We will continue to ensure that fraudsters do not benefit from crime and that economic and financial crimes are curtailed.”
The EFCC confirmed that Ojo Kingsley and other suspects linked to the case have been charged to court for stealing, as investigations and prosecution continue.
EFCC Reclaims N802m After Man Diverts Mistaken N1.3bn First Bank Credit to Mother, Sister’s Accounts
