Union Bank pair allegedly stole millions in fraud spate

Union Bank

Union Bank

from AUGUSTINE OSAYANDE in Abuja, Nigeria
ABUJA – THE Economic and Financial Crimes Commission (EFCC) has arrested two Union Bank officials for allegedly stealing N661 million from their employer.

Samuel Obende, a Branch Manager, and Rabiu Alhasan Dawaki, Head of Operation of Bello Road Cash Centre in Kano, are behind bars.

According to a statement issued by the commission, the duo allegedly abused their positions to perfect the fraud.

“They were saddled with the responsibility for the evacuation and supplying of cash to about seventeen branches of the bank in Kano, Katsina, Kaduna and Jigawa States, in the course of carrying out their duties, they fraudulently conspired and stole the sum N661 million,” the commission said.

It added that the two bankers tried to conceal the illegal act, by fabricating account entries, which deceitfully showed that all the monies were sent to the respective branches.

Investigation into the fraud continues.

CAJ News







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Posted by on Aug 13 2014. Filed under Finance, Finance & Banking. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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