Former Union Bank staff, others docked for fraudulent transfer of N1.4 bn from the bank

Admin l Tuesday, December 6, 2022

 

IKOYI, Lagos, Nigeria – The Economic and Financial Crimes Commission, EFCC on Monday arraigned former employee of Union Bank Plc, Abdulmalik  Salau  and two others, Ismaila Yousouf and Atumeyi and Ngene Joshua Dominic for N1.4 billion fraud.

According to court documents, the Union Bank ICT  staff now sacked made some modifications in the internet network of the bank and effected transfer of the money to  FAV Oil and Gas Limited.

They were arraigned before justice Tjinani Rigim of the Federal High Court, Ikoyi on an 18 count charge, bothering on cybercrime and money laundering to the tune of N1.403, 343, 400.

One of the counts reads:  “That you, Ismaila Yousuf Atumeyi, Ngene Joshua Dominic  within the jurisdiction of this honourable court without lawful  authority, directly caused modicaifcation of data held in the network of Union Bank Plc, leading to the fraudulent  transfer of the total sum of  N1,403, 343, , 400  to the account of FAV Oil and Gas Limited and thereby committed  an offence contrary to  and punishable under  Section 16(1)  of the cybercrimes Prohibition Prevention Act 2015.

Another count reads: That you That you, Ismaila Yousuf Atumeyi, Ngene Joshua Dominic  between August and October within the jurisdiction of this honourable court conspired among yourselves to directly conceal the sum of N1,403, 343, 400  in the account of FAV Oil and Gas Limited, which sum you reasonable ought to have known  forms part of the proceeds of your unlawful activity and you thereby committed and offence contrary to section 18(a) 15(2) of the Money Laundering Prohibition Act 2011  as amended and punishable under Section (15) 3 of the same act