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EFCC official and First bank official during the handover Photo credit: EFCC
The Benin Zonal Directorate of the Economic and Financial Crimes Commission has handed over N802,420,000 recovered from a fraud suspect to First Bank Nigeria Plc, following a system glitch that erroneously credited the funds to the suspect’s account. Official
In a statement by the EFCC on Tuesday via its official X account, the Commission said the money was recovered from Ojo Eghosa Kingsley, who allegedly took unlawful possession of over N1.3 billion belonging to the bank.
According to the EFCC, the bank had reported that system glitches led to Kingsley’s account being erroneously credited with the amount.
“The Commission in its investigation discovered that the suspect, upon receipt of the money, transferred a good measure of it to the bank accounts of his mother, Itohan Ojo, and his sister, Edith Okoro Osaretin, and committed part of the money to completion of his building project and the funding of a new flamboyant lifestyle,” the statement said.
Following the recovery from the identified accounts, the EFCC handed over the funds in bank drafts to First Bank.
While handing over the money, the Acting Director of the Benin Zonal Directorate of the EFCC, Deputy Commander of the EFCC, Sa’ad Hanafi Sa’ad, said the Commission will continue to carry out its mandate.
“The EFCC Establishment Act empowers us to trace and recover proceeds of crime and restitute the victim. In this case, First Bank was the victim and that is exactly what we have done,” Sa’ad said.
“We will continue to discharge our duties to ensure that fraudsters do not benefit from fraud and that economic and financial crimes are nipped in the bud,” he added.
Business Manager of First Bank, Benin, Olalere Sunday Ajayi, who received the drafts, commended the EFCC for its speed and professionalism.
“We are grateful to the EFCC for handling this matter swiftly and professionally. The Commission is one of Nigeria’s most effective and reliable institutions,” Ajayi said.
The EFCC confirmed that Kingsley and other suspects linked to the case have been charged to court for stealing. (The PUNCH)
