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

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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….

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Wema Bank Emerges Best Performing Bank in Half year 2022

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Nigeria’s most innovative bank, Wema Bank Plc, has emerged the best performing bank in the first half of year 2022 financial year with a weighted average score of of 2.83 points, beating 12 other bank’s.

 

According to a special report on the Nigerian banking performance in the first half of 2022 prepared by Nairametrics, Wema Bank ranked first in one category, second in three categories and third in one category. Stanbic IBTC and First Bank came second and third respectively..

 

The key metrics considered in the report are total asset growth, loan book growth, profit growth, cost-to-income ratio movement, and return on average equity.

 

The 13’reviewed banks which are listed on the Nigerian Exchange posted a net profit of N1 trillion in 2021 from N887.1 billion recorded in 2020.

 

The 13 reviewed banks are Wema Bank, First Bank of Nigeria, FCMB, GTB, Jaiz Bank, Access Bank, and Stanbic/IBTC. Others are UBA, Sterling Bank, Unity Bank, Union Bank, Zenith Bank, and Fidelity Bank.

 

During the first six months of 2022, the thirteen banks posted an aggregate of N501.1 billion as profit after tax, representing an increase of 13.1% compared to N443.17 billion recorded in the corresponding period of 2021

 

The banks grew their bottom line despite headwinds ravaging the global economy as the energy crisis triggered a significant surge in the operational costs of businesses operating in the country, while some banks were forced to ration their operating hours in a bid to manage the rise in the cost of operation.

 

Wema Bank came first in the category of

Leading bank’s by customer deposits growth . The bank recorded ±30.2 percent customer deposit growth during the review period, followed by Fidelity Bank and Access Bank with +13.1 percent and +12.8 percent respectively.

 

Wema Bank came second in three other categories – total assets growth rate (+13%), loan book growth rate (+19.9%) and profit after tax growth rate {+47.8%}.

 

Stanbic IBTC , the second place winner, ranked first in total asset growth rate and leading bank’s by cost to income ratio growth rate

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Again! FCMB Lands IN Serious Trouble Over False Claim…… As Court Orders Bank To Pay N540m Damages.

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First City Monument Bank (FCMB) is in hot soup as the Federal Capital Territory (FCT) High Court has ordered the bank to pay N540.5 million in damages to Pastor Emmanuel Omale of the Divine Hand of God Prophetic Ministry and his wife, Deborah over false claim that they laundered N573 million for former chairman of the EFCC, Ibrahim Magu.

Delivering judgement in the suit, Yusuf Halilu, the judge, held that the bank breached its “duty of care to the claimants,” the Omales and their church.

The judgment was on the suit marked: FCT/HC/CV2541/2020 filed by Mr. Omale, his wife and the church.

The judge held that the evidence before the court showed that the bank admitted error in its report to the NFIU of entries in the account of Divine Hand of God Prophetic Ministry which was accused of laundering money on Mr. Magu’s behalf.

Mr. Halilu also said the bank claimed that the purported N573 million was wrongly reflected as credit entry in Divine Hand of God Prophetic Ministry’s account by its reporting system, which it recently upgraded.

The judge held that FCMB admitted the error, which brought incalculable damage to the reputation of the claimants both within and outside the Nigeria – depleting their church’s membership.

Mr. Halilu said the claimants provided sufficient evidence to establish case of negligence against FCMB.

Consequently, the judge awarded N200 million as aggravated damages; N140.5 million as specific damages and N200 million as general damages.

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More Troubles For Dangote Cement As Kogi Govt Demands 10 Per Cent Share, Orders Immediate Seal Off

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However, Dangote Cement is facing allegations of sharp practice from Kogi State government, Kogi Assembly as well as Akwa Ibom State.Already, the Kogi State House of Assembly has ordered stoppage to the activities of the company in two Local Governments in the State while investigations continue.

To make the claim possible, Kogi State House of Assembly ordered the management of Dangote Cement company to provide all necessary documents that have to do with the transfer of Obajana Cement Company owned by Kogi state government to Dangote Cement Company.

The House also directed that the documents signed at the establishment of the Company and relevant receipts of dues it claimed to have paid to Kogi State Government available at the next adjourned sitting date.

The speaker of Kogi State House of Assembly, Matthew Kolawole, gave the order after interim reports of the ongoing investigative hearing on Internally Generated Revenue (IGR) which was submitted by the ad hoc committee led by Hon. Isah Tenimu Umar, Member Representing Lokoja I Constituency and deliberated upon at the plenary on Wednesday.

Kolawole said this has become important in view of the claims and counterclaims between the Chairman of Kogi State Internally Generated Revenue Service (KGIRS) and representatives of Dangote Cement as the acting chairman of KGIRS, Salisu Enehe had earlier accused Dangote Cement Plc Obajana of forging its tax receipt during the investigative hearing by the State House of Assembly.

According to the State Revenue Boss, most of the figures the company claimed to have paid are totally incorrect, urging the company to check its record.

He added that despite the billions of Naira that company is making from the state monthly, it has failed to pay taxes that are due to the state and Lokoja Local Government Area.

Nigerians Getting ₦1,593,247 Per Week From ₦99,000 Investment in Amazon
Nigerians Getting ₦1,593,247 Per Week From ₦99,000.

In another development, Following the unrestrained environmental degradation in Ankpa and Olamaboro local government areas, Kogi state House of Assembly on Wednesday, directed the Commissioner of Police and Commandant of the Nigeria Security and Civil Defence (NSCDC) to seal off operations of Dangote Plc in the affected areas of the State.

The House gave the order during a public hearing on activities of Dangote Group in the state, especially on the the massive exploitation , environmental degradation and non compensation to the affected owners of the land and without revenue accruing to the state government.

The Speaker, Kogi state House of Assembly, Mathew Kolawole, charged the NSCDC commandant to ensure immediate implementation pending when the ad hoc committee on revenue clarifies some grey areas. Kolawole, who lamented the environmental degradation caused by mining activities on Kogi by the Dangote group and its subsidiaries, accused the multi national business concern of making billions in the state but yet fails to give back to it.

Akwa Ibom is also finding it difficult to collect its entitlement from the Dangote Group. According to reports from the place, the Itu Local Government blocked Dangote premises with their trucks because the company has refused to pay tax for more than two years despite pleas and series of warnings.

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