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FCMB: EXPOSING NIGERIA’S MOST FRAUDULENT FINANCIAL INSTITUTION……….. How MILLIONS WAS FRAUDULENTLY MOVED FROM CUSTOMERS ACCOUNT! + INSIDER CONNECTION

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6 years ago

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The management of First City Monument Bank, FCMB Plc., appears to have ignored recent directive from the Economic and Financial Crimes Commission, EFCC to banks to report suspicious activities of their customers to the commission.
The Central Bank of Nigeria, CBN has also recently warned Nigerian banks that they will be held responsible if they failed to notify the apex bank activities of fraudsters and hackers.
Financial analysts, however, insist that the new generation bank led by Mr. Adam Nuru have wittingly disregarded the directive neither has the bank done enough to build necessary firewalls capable enough to prevent criminal elements from using the bank to commit fraud.


This has become worrisome in the face of hackers that have now infiltrated the bank’s electronic system for the purpose of robbing unsuspecting Nigerian of their hard earned money. SOCIETY REPORTERS however discovered through investigations that the fraud is committed with insiders’ assistance in the bank.
The hackers and some employees of the bank, we learnt they have formed a well-organized syndicate that now threatens depositor’s fund in the bank and the financial system in the country.
The modus operandi of the ‘cartel’, according to some victims who have lost money to the well-organized syndicate, is very strong so much so that an unsuspecting individual would have fallen for the scam before knowing it.
On January 3, 2018 an FCMB customer (names withheld for security reasons) with account number 0289084011 received an alert on his mobile telephone line, that his account has been debited of N5,000,000.00 ( five million naira only). Shocked that the amount was removed from his account without his authorization, he quickly called one of his staff to find out what could have happened.
The employee, an accountant working in his office told him he received an email from him that day authorizing him to transfer the said amount to GTB account owned by one Aminu Steven H.
The GTB account number is 0160947512. The principal told the staff that he never sent the e-mail, more so when he had no transaction with the GTB customer, as such he had no reason to pay him such money.
Suspecting that he has been scammed, he quickly notified FCMB which in turn notified GTB. While this was still going on the recipient of the money at GTB had quickly moved the money, which he split into two different accounts in the same bank.
The transaction was done in a flash of lightning. The sum of N2,800,000.00 was transferred to the account of one Sanni Adeyemi Azeez, while N2,200,000.00 was moved to the account of Olamilekan Temitope Moses.
“There’s no way this could have happened without insider connection,” said Frank Enebeli, a financial analysts, adding that “FCMB has become notorious for such financial fraud.”
Before this particular case, some customers of FCMB have complained about the failure of FCMB management do something about some of its staff working hand-in-hand with hackers to commit fraud.
Some customers said they have had to close their accounts with FCMB because they felt that their money could be tampered with. Some of them said they felt their money was no longer safe with the bank, not because they have any bitter experience, but simply because their friends who at one time or the other had been defrauded warned them to do so.
FCMB, some analysts say has risked its reputation as one of the new generation banks in the country by allowing hackers and thieves to have a free reign.
An insider told SOCIETY REPORTERS that it’s difficult to weed out insiders in the bank perpetuating this fraud because they have backers among senior management of the bank. The source also said the cartel has become so much entrenched because of huge cash involved.
According to him, the mode of operation of the ‘thieving staff’ is two-way pronged. The first “ring’, he said focus on working with hackers to move money from other banks to FCMB. The basic work of these staff is to move such money to special or dedicated accounts opened for this purpose. “These accounts are opened using proxies who are promised cuts or percentage of whatever money is involved.
The owners of the accounts get up to 10 percent or more, depending on agreement. Once the money lands in the account the owner is quickly informed, so that he can withdraw it with immediate effect before the victim alerts the bank.” the source said.
“The transactions takes place in a flash, because once it’s discovered the bank can place a Lien of No Debit Transaction on the accounts involved making any withdrawer impossible,” he also stated.
The biggest ‘cartel’ involves staff who stole FCMB customers’ money. According to the same source, this group has festered for years in the bank and has become very entrenched in the evil practice.
“What they do is to monitor fat accounts for at least eight months. Once they discovered that the accounts witnessed no activity within this period, they will start moving the money bit by bit,” he said.
He explained that some customers have opened accounts with the bank without the knowledge of their family members or close relations. When such customers die, he said, nobody will be able recover the money in the accounts because nobody is aware of their existence.
“Though this particular situation is not common with GTB, but the one that happens in FCMB is worst. The cartel makes millions monthly from these fraudulent practices. Now imagine the billions that may have been stealing from customers in the last few years,” he said.
Some customers of FCMB who spoke with us, disclosed that on a number of occasions they had receive debit alert on their mobile phones without any transaction.
Whenever the bank is queried, the response is usually very unimpressive. In the case cited above, FCMB was very reluctant to return the N5 million stolen until the owner dragged the bank to court.
The efforts by SOCIETY REPORTERS to get the bank respond to the issue were not successful. Telephone calls made to its spokesperson one Mr. Louis Ibe were not responded to.
Whatch out for Part 2…… (Our Interview with some aggrieved customers of the bank)

SUNDAY ADEBAYO

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JUST IN: President Tinubu Orders Yahaya Bello To Submit Himself For EFCC Probe

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2 days ago

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April 18, 2024

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The Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, has called on the immediate-past governor of Kogi State, Alhaji Yahaya Bello, to follow the path of decency and submit himself for probe.

Bello is being wanted by the Economic and Financial Crimes Commission (EFCC) over alleged corrupt practices while in office as governor of Kogi State

 

LEADERSHIP reports that in the last 24 hours, there have been dramas and hide and seek game between both parties over the move to arrest the former governor for arraignment this Thursday.

 

According to the AGF, in a statement he personally signed on Thursday, EFCC is empowered by law to invite any Nigerian for interrogation.

He also described the action of the incumbent governor of Kogi State, Ahmed Ododo, who used his immunity to prevent Bello’s arrest on Wednesday as ‘disquieting’, adding that embarking on a temporising self-help and escapism that can only put Nigeria in bad light before the rest of the world is not the way to go.

According to him, he stands for the rule of law and will ensure no right of any Nigerian is trampled upon.

 

 

The AGF said in the terse statement: “The bizarre drama confronting the Economic and Financial Crimes Commission (EFCC) in the course of its efforts to perform its statutory duty has come to my notice (Attorney General of the Federation and Minister of Justice) as a matter of very grave concern.

“It is now beyond doubt that the EFCC is given power by the law to invite any person of interest to interact with them in the course of their investigation into any matter regardless of status. Therefore, the least that we can all do when invited, is not to put any obstruction in the way of EFCC but to honourably answer their invitation.

“A situation where public officials who are themselves subject of protection by law enforcement agents will set up a stratagem of obstruction to the civil and commendable efforts of the EFCC to perform its duty is to say the least, insufferably disquieting. A flight

from the law does not resolve issues at stake but only exacerbates it.

 

“I state unequivocally that I stand for the rule of law and will promptly call EFCC and indeed any other agency to order when there is indication of any transgression of the fundamental rights of any Nigerian by any of the agencies but I also tenaciously hold the view that institutions of State should be allowed to function effectively and efficiently. Nigeria has a vibrant judicial system that is capable of protecting everyone who follows the rule of law in seeking protection.

 

“I therefore encourage anyone who has been invited by the EFCC or any other agency to immediately toe the path of decency and civility by honouring such invitation instead of embarking on a temporising self-help and escapism that can only put our country in bad light before the rest of the world.

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SHALINA CELEBRATES 40 YEARS OF TRUST, REITERATES COMMITMENT TO QUALITY HEALTHCARE DELIVERY IN AFRICA

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2 days ago

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April 17, 2024

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In celebration of its 40 years in Africa, a leading Afro-focused multinational company, Shalina Healthcare has reiterated its commitment to the delivery of quality healthcare in Africa. Declaring this in Lagos on Friday at the event to wrap up the company’s 2023/24 financial year and celebrate its 40 years of its existence, the Chief Commercial Officer, West Africa of the company, Arun Raj said the company “is determined to continually fulfill its corporate mission of making quality products available to every African at affordable prices.

 

According to him; ” It has been 40 years of trust in Africa and these 40 years, the people of the continent have also reciprocated the trust in our quality products and healthcare delivery.”

 

Also, in his corporate presentation as well as new financial year projection, the Head, Corporate Marketing of the Company, Folorunso Alaran said; “the Company is building on the trust Africans have in its products and services over the year and is committed to healthy Africa. It has been forty years of available, affordable and quality products for Africans.”

In the words of Mr. Nirmal Jain CEO Shalina consumer Global,

 

“At Shalina, we believe that every African must have access to good products. And for the last forty years, we have been trusted for our quality products. And more so, through our many initiatives and healthcare interventions, Shalina has continually raised the bar in healthcare delivery.”

 

Speaking further, Mr. Debajeet Mukherjee CEO Shalina Pharma Global, posited that; “despite the prevailing economic challenges, we do not waver in delivering our corporate purposes of available, affordable and quality health products. It is our belief that economic challenges should not hinder people’s access to quality healthcare. Either the economy is good or bad, it shouldn’t affect the lives of the people in an adverse way. Despite the fact that some companies are leaving Nigeria, we are expanding our team in the country. This is because we have trust and believe in Nigeria.”

 

In her own presentation at the event, the Company’s Managing Director, Nigeria , Opeyemi Akinyele said the company “is focused to become number one brand in Nigeria and continually promote the best of healthcare delivery in the country. ”

 

“Through our products, activities and interventions we have been doing greatly to ensure that quality healthcare is available and affordable for every citizen. And this is a promise that will remain unbroken ” She said.

 

Appreciating the members of staff of the company for their commitment and supporting roles in the company, Akinleye said “without you, your roles and efforts, we won’t be here and the successes recorded in the out gone year won’t be possible. We also rely on your continuous support and commitment in the new year. ”

 

Meanwhile as part of the company’s end of year activities, many staff members were given awards of excellence in different categories for 2023/24 financial year. Amongst them were Lasisi Abiodun, Best Pharma Delegate, Lawal Abubskar, Best Medical Delegate, Ruth Adesua Adewoye, Best Regional Manager Pharma, Ganiyu Lateef, Best CVD Delegate, Mercy Omoji, Best Regional Manager, Consumer, Uzuma Pascal, Best Zonal Manager, (Global) and Juliet Ngozi Edward, Best Consumer Delegate Global . Winners in other categories included Sandeep Sahu, Folorunso Alaran, Emeka Adimoha, Chiuba Nwaosu among others.

 

Shalina Healthcare which began its business in Africa in DR Congo in 1984 made entry to Nigeria 25years ago. It currently has about 2500 staffs globally out of whom 2000 are in Africa.

 

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Kano court affirms Ganduje’s suspension

Published

3 days ago

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April 17, 2024

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The Kano State High Court has granted an ex parte order restraining the National Chairman of the All Progressives Congress, Abdullahi Ganduje, from parading himself as a member of the party.

Subsequently, the court ordered that henceforth, Ganduje should desist from presiding over all affairs of the National Working Committee of the APC.

The application granted by Justice Usman Na’abba on Tuesday followed an ex parte motion filed by Dr. Ibrahim Sa’ad on behalf of two executive members of Ganduje’s ward, Dawakin-Tofa Local Government Area, the Assistant Secretary, Laminu Sani and Legal Adviser, Haladu Gwanjo (plaintiffs), who were part of the nine ward executives who suspended Ganduje on Monday.

The court directed the four parties (respondents) joined in the matter, including the APC, NWC, APC Kano State Working Committee, and Ganduje, to henceforth, maintain status quo ante belum as of April 15, 2024, pending the hearing and determination of the substantive suit on April 30, 2024.

Justice Na’abba, also held as prayed, stopped State Working Committee APC Kano from interfering with the legally and validly considered decision of executives of Ganduje ward, essentially on action endorsed by a two-thirds majority of the executives as provided by the party constitution.

The ex parte order read,, “An order is hereby granted directing all parties in the suit APC (first), APC National Working Committee (second), Kano State Working Committee APC (third), Dr. Abdullah Umar Ganduje (fourth), to maintain status quo ante belum as of April 15, 2024.

”The order thereby restraining the first respondent (APC) from recognising the fourth respondent (Ganduje) as a member of APC and prohibiting the fourth respondent (Ganduje) from presiding over any affairs of the NWC and restraining the state Working Committee from interfering with the legally and validly decision of the ward executives of Ganduje ward.

“That the fourth respondent (Ganduje) is prohibited from parading himself as a member of APC or doing any act that may portray him or seem to be a member of APC pending the hearing and determination of the substantive suit.”

Nine members of the Ganduje ward proclaimed the suspension of the National Chairman of the APC over the allegation of corruption slammed on him by the Kano State Government.

The nine APC executives said they were prompted to act following a petition written by one Ja’afaru Adamu, a member of the APC from the National Chairman’s polling unit.

In the petition, Adamu complained over allegations of corruption charges against the former governor just as he urged the ward leaders to investigate the matter to redeem the dented image of the party and the implication on President Bola Tinubu’s fight against corruption.

Although the chairman and secretary of the ward failed to act on the petition filed on April 8, 2024, nine members of the executives, led by the legal adviser, acted upon the petition, a decision that led to Ganduje’s suspension.

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