Incessant Bank Fraud by Officers and Managers in UBA assumed another dimension last week, as new swindling trick was exposed for customers to be vigilant and beware.
The United Bank for Africa (UBA) has given a vivid account of how its erstwhile Oke-Arin II branch manager of the bank, Prince Okay Aroh, and his alleged accomplice Abimbola Oluwaniyi, helped themselves to funds from accounts of two customers: Mr. Emmanuel Chukwuemeka and Petroz Nigeria Limited.
The bank, through a petition addressed to the Head of Operations of the Economic and Financial Crimes Commission (EFCC), alleged that Prince Aroh alongside Abimbola Oluwaniyi, the Relationship Manager of the branch, fraudulently converted a total of N265 million.
Giving details of how the alleged fraud was perpetuated, the bank stated that a report was received by Group Audit of the bank on a suspicious transaction involving the duo. According to the bank, Mr. Chukwuemeka had alleged he had fixed deposit investments totaling N265 million with the bank.
The bank said after detailed investigation a number of revelations came to light. One of them was that Mr. Chukwuemeka maintains three accounts with Oke Arin branch of the bank, namely Emmanuel Chukwuemeka, Chalton Nigeria Limited and Chanko Investment Nigeria Limited.
The bank further pointed out that the customer presented deposit certificates for four fixed tie deposits totalling N265 million which were found not to exist in the system. The bank maintained that upon the customer’s insistence that he had deposits with the bank, his accounts were reviewed and it was discovered that he had two fixed time deposits with the bank totaling N120 million (N60 million each booked on his account on 8th and 11th 2010in favour of Chalton Nigeria Limited and Emmanuel Chukwuemeka respectively).
“It was however discovered that upon maturity of one of the fixed time deposit on 8th December, 2010; its proceeds were used to liquidate two cash collaterised facilities belonging to Eeribe Ikenna and Evacyil Nigeria Enterprises, while the second fixed tie deposit was partly used to liquidate the cash collaterised facility of Petroz Nigeria Limited”, the petition read in part.
While noting that Mr. Chukwuemeka denied the consent to use his investment as collaterals for the facilities for these customers, the bank told the anti-graft agency that the operator of Evacyil Nigeria Limited, one of the beneficiaries of the alleged fraud is faceless.
“The petitioner now seeks the assistance of your good office to institute an investigation into the above fraudulent activities and ensure that the culprits face the maximum punishment provided under Nigerian laws for the offences, as well as prevent the culprits from enjoying the fruit of their fraud at the expense of the petitioner, its depositors and investors”, the petition read in part.
Prince Aroh and Mrs Oluwaniyi have since been slammed with a six count charge of conspiracy, stealing by fraudulent conversion, forgery and uttering before a Lagos High Court presided over by Justice Oluwatoyin Ipaye. They pleaded not guilty to the charges.