Connect with us

News and Report

BANK OF FRAUD: HOW FIDELITY BANK DEFRAUD NIGERIANS OF MILLIONS BY PROVIDING CUSTOMERS INTERNET DETAILS TO SCAMMERS TO EMPTY THEIR ACCOUNTS EVERY WEEKEND

Published

on

BOARDROOM SCANDALS: Like flies get attracted to filth so is Fidelity Bank attraction to fraud and anything capable of stealing from their customers. As their name Fidelity implies; they have truly kept to their promise of making their customers life hell by working with syndicates to siphon their money, thus making a mess of internet banking. On 5th July 2016, we can report authoritatively that Fidelity Bank succeeded in making a Nigerian go to prison when they sold fake $4000 to him in their Ajah Branch. The businessman Chike Joseph met the shock of his life after boarding a plane from Enugu International Airport and arrived Dubai International Airport on Wednesday, 6th July, 2016 via Ethiopian Airline but was held by airport authorities for being in possession of fake dollars. He was moved to El-Rashida Police Dubai who proved his innocence when they saw documents of the bank transaction between him and Fidelity but still held him in custody as the ban was nowhere to be found to own up to their scam. Contrary to news making the round that Heritage Bank is the corporate institution involved in snooking Nigerians of money deposited with them; information available reveals that Fidelity Bank is actually the criminal establishment involved in the multi million fraud. This revelation was made known by the Special Fraud Unit of the Police when they arrested 11 suspected scammers with three of them being Fidelity Bank officials in an investigation that spanned three months.

According to the Police, the bank secretly worked with two MTN officials who have been discovered to be outsourced staff. The telecom staff working on information provided them by Fidelity Bank swapped customers details with new phone numbers. Making the startling revelation, SFU spokesman, ASP Lawal Audu in their Ikoyi office disclosed that the bank specialized in providing the syndicate account numbers of customers with enough money and into internet banking; where they swap details so as to make the customer unable to receive alerts as they siphon the money during weekends and public holidays. Over 40 accounts of other banks with different ATM were the funds transferred into. “The effort of the police team eventually paid off when the same group was holding their final meeting at eateries along Bode Thomas Street, Surulere. Their plan was to defraud another new generation banks between May 26 and 29,’2017. Detectives stormed the venue during which one of the major kingpin claimed to be Alhaji Ismaeel Salami and four members of the syndicate were arrested. Thirty five ATM cards affixed with account numbers and passwords were immediately recovered from them” The Fidelity Bank staffs alongside the telecom staff made over N150 million engaging in the criminal activities.

The suspected bankers arrested by the Police are Oyelade Shola-Isaac, 32, Osuolale Hammid, 40, and Akeem Adesina, 33, while the network service provider employees include Okpetu John, 29, Chukwumnoso Ifeanyi, 30 and Salako Abdulsalam, (ICT specialist), 30. Other suspects were Ismaeel Salami, 49, Akinola Oghuan, 34, Sarumi Abubakar, 32, James Idagu, 56, and Sunday Okeke, 33. They were all arrested in Lagos, Ibadan and Ilorin. Audu stated that “It was, however, unveiled that this criminal syndicate usually sourced these bank ATM cards from their owners, especially among the vulnerable youths deceiving them to release their ATM cards, account numbers and passwords for eventual monetary rewards based on the amount their card receive” The Nigerian Witness Newspaper according to what we gathered contacted MTN who acknowledged the big fraud by Fidelity Bank in a letter to them. “We wish to point out that the arrest stemmed from MTN’s report of an unusual level of swap activity to the Nigeria Police. This breach was perpetrated by employees of an independent but regulated third-party trade partner who owns and operates the Connect store where the incident took place. “We are appalled by the situation and condemn it in its entirety.

The security and well-being of our customers are of paramount importance, and as such we will continue working at strengthening our governance structures and processes, and will proactively report suspicious activity once it occurs. We (MTN and all our regulated third-party trade partners) are committed to protecting our existing and potential customers from all present and emerging threats and will continue to work closely with the security agencies to ensure appropriate action when there is evidence of misconduct – as was done in this instance. “We commend the Nigeria Police Force for their response and handling of this matter and pledge our support to seeing it through to conclusion. MTN remains firmly committed to the highest standards of integrity, ethical behaviour and good corporate citizenship.” MTN told the paper. Fidelity Bank is among the institutions owned billion of Naira by Etisalat Nigeria. They loaned the now struggling telecom industry $56 million and N17 billion according to This Day Newspaper without tangible collateral to get back their money. When contacted, the bank’s communication head Charles Aigbe didn’t pick his call nor returned it before press time.

Additional Reports From Secrets Reporter….

Continue Reading
Advertisement

News and Report

CAC Places First Bank Records On Caveat Over Litigation

Published

on

By

The Corporate Affairs Commission, CAC, has placed the records of First Bank of Nigeria (FBN) Holdings on caveat pending the resolution of the crisis rocking…

The Corporate Affairs Commission, CAC, has placed the records of First Bank of Nigeria (FBN) Holdings on caveat pending the resolution of the crisis rocking the board of the bank as a result of multiple court cases filed by aggrieved directors.

The crisis rocking the bank stemmed from protests by shareholders who were kicking against the bank’s internal governance and shareholding structure, as a result of which some of them have taken their grievances to the court.

One of such is the case of Olusegun Samuel Onagoruwa v. FBN Holdings Plc in Suit No. FHC/L/CP/1271/2022), which is challenging the capacity of the Board of Directors of FBN to appoint new persons to fill vacant slots.

Onagoruwa in his suit is seeking “an order setting aside, nullifying, annulling and/or quashing the appointments and approvals of Mr. Olusola Adeeyo, Mr. Viswanathan Shankar, Mrs. Remilekun Adetola, Mr. Anil Dua and Mrs. Fatima Ibrahim as Non-Executive Directors of First Bank of Nigeria Limited made on the 20th day of March, 2024, by FBN Holdings PLC during the pendency of this action and in defiance of the subsisting order of this Honourable Court made on the 15th day of July, 2022.”

The motion also seeks an order restraining the above-named non-executive directors from acting or taking any steps as non-executive directors of the bank.

The current court case follows similar four other cases pending at the Federal High Court in Lagos and Abuja challenging the internal governance of FBN Limited, in addition to existing court injunctions restraining the bank from holding the last two Annual General Meetings which the bank went ahead to hold.

In a new twist to the crisis, the Corporate Affairs Commission in a letter entitled.

“Re: notification of pendency of suit no. fhc/l/cp/1575/23 against FBN holdings plc, and subsisting interim orders of the Federal High Court made on the 9th day of August 2023 restraining FBN holdings plc from holding or proceeding with its annual general meeting purportedly held on the 13th day of August 2023”, weighed in on litigations threatening to tear the old generation bank apart.

Signed on behalf of the Registrar General of CAC by Chidimma Maureen Nwite, the Commission in a letter to lawyers to some of the parties in court against FBN Holdings said: “This is to inform you that the record of FBN Holdings PLC RC: 916455 has been placed on caveat pending the determination of Suit No. FHC/L/CS/1575/2023.”

A shareholder, Mr. Olalekan Babalola, said “it is imperative for the authorities to find a solution to this lingering crisis as Nigeria cannot afford another major bank’s collapse at this critical time

He called for urgent resolution of all court cases in the overall interest of depositors, shareholders and other stakeholders of the bank before further damage is done to the oldest Nigerian bank.

 

Continue Reading

News and Report

Shalina Recognizes Major Distributors as the Main Force behind its Business Growth – Arun Raj, Chief Commercial Officer

Published

on

By

 

A leading Afro-focus multinational company, Shalina Healthcare, has said it recognizes its major distributors as one of the driving forces behind its success stories in the last one year in the face of the economic realities. This was in Lagos on Thursday at the meeting of the company with its business partners and major distributors across the country to mark the end of the financial year of the company with the main theme: “Driving Growth through Strong Business Partnerships.”

 

In his welcome speech as well as his corporate presentation, Arun Raj, the Chief Commercial Officer, Shalina Healthcare West Africa said through the efforts of the business partners ” Shalina is one of the fastest growing pharmaceutical companies in Africa. Though the last one year had shown to be one of the most difficult for business in recent times, but were able to weather the storm through the support and resilience of our major distributors. The last one year had shown to be a very difficult time, especially for the industry, with a leading brand of about sixty years in Nigeria leaving the country, but we are assuring everyone that, despite all economic issues, Shalina continues to believe in Nigeria. We are committed to providing available and affordable quality health products. It will interest many people that in the last financial year, the company had a 19% volume growth. Though it may be below our expectations, considering the economic realities of the last one year, it is a good development.”

In the same vein, the Managing Director, Shalina Healthcare, Nigeria, Mrs. Opeyemi Akinyele, said “the purpose of the event is to refresh, appraise and evaluate the last financial year for us to forge ahead and make more impacts. The last one year has been the survival of the fittest in the business world , but here we are today with successful stories.”

 

In his own remarks, the Corporate Marketing Head of the company, Folorunso Alaran while

 

Appreciating the business partners who are the major distributors across the country said “the success stories of the company can’t be completed without the distributors.”

 

Meanwhile, in their various responses and feedback, some of the business partners commended the company for the job well-done in the outgone financial year and also made recommendations and suggestions for the company to grow bigger and higher in the upcoming new financial year. In their responses, Alhaji Rasheed Adetoro of The Will of God Multipurpose Ventures, Shaki, Oyo State and Tochukwu Agu of Atidam Pharmaceutical Limited, Lagos among other business partners were unanimous in congratulating the company for a successful financial year saying ” the reward for a good job is more good jobs.”

 

One of the high points of the event was the presentation of the “Distributor Excellence Award” to its outstanding business partners.

 

Continue Reading

News and Report

UBA Introduces First of its Kind Scan To Resolve Complaint Portal

Published

on

By

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled a Quick Response solution code, qrdispute.ubagroup.com:8088 called the ‘Scan to Resolve Complaint’ Portal with code  aimed at enhancing satisfaction and swiftly addressing customers’ disputes.

The first of its kind innovative platform marks another significant step by the bank to revolutionise customer service and streamline complaint resolution processes.

The ‘Scan to Resolve complaint’ portal is a QR-code-based qrdispute.ubagroup.com:8088,-portal conceptualised by the bank to proffer timely solution to customers’-challenges, without them having to visit the bank or branch.

With the portal, a variety of concerns including challenges around failed transactions will be quickly resolved from the comfort of their homes and business places.

UBA’s Head, Digital Banking, Olukayode Olubiyi, who spoke on the workings and benefits of the ‘Scan and Resolve Complaint’ portal explained that with the platform, difficulties with transactions on web, Point of sale machines (PoS) and Automated Teller Machines will immediately get responses and be treated within 72 hours.

“Our customers are at the heart of our business, that’s why we keep going the extra mile to constantly innovate in a bid to satisfy them. As the name implies, Scan and Resolve Complaint, is a solution driven portal which attends to complaints and issues of customers fast and promptly,” he explained.

He also disclosed that the portal is loaded with many benefits including ease of transactions, adding that “henceforth, customers are only required to scan and log in complaints while each complaint would be integrated into the portal register to make resolution seamless which also reduces customer hassles.”

According to Olubiyi, when these complaints are made, there will be an Instant verification process and notifications will be sent to customers while resolution will commence immediately with the overall aim to satisfy customer.

UBA’s Group Head, Customer Experience, Michelle Nwoga said the bank is always on the look-out to provide exceptional services to customers, and has over time developed various strategies to ensure that its service delivery is continuously upgraded to remain the bank of choice.

“UBA aims to provide the best value possible for its customers through a more interactive, user-friendly interface that will make countless opportunities available for the customers from the comfort of their homes,” she stated.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 35 million customers globally.  Operating in 20 African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology

Continue Reading

Trending