A former employee of Sterling Bank Limited, Emmanuel Joseph Uloh, has been accused of allegedly masterminding a N840 million fraud through fictitious transactions on the bank’s digital banking platform, Gomoney.
Emmanuel Joseph Uloh is facing an amended charge filed before the Federal High Court in Lagos by the Inspector-General of Police, alongside other suspects said to be at large.
According to the charge, the alleged fraud was carried out between May 2024 and May 2025 at Sterling Bank in Lagos.
The first count accused Uloh and others at large of conspiring to commit felony, specifically money laundering, and fraudulently converting N840 million belonging to Sterling Bank.
The alleged offence was said to be punishable under Section 21(a) of the Money Laundering (Prohibition) Act, 2022, as amended.
In the second count, the police alleged that Uloh, who was an employee and Sub-Team Lead on Sterling Bank’s Gomoney digital banking product, fraudulently authorised and supervised the posting of fictitious transactions.
The transactions were allegedly presented as legitimate dispute-resolution service transactions but were used to credit the Gomoney account of one Ifiok Ebong, account number 8504057880, with a staggering N840 million.
The police alleged that Uloh’s role in authorising and supervising the transactions facilitated the fraudulent movement of the funds.
The charge further accused him of concealing or converting the origin of the N840 million through the alleged manipulation of the bank’s transaction system.
The allegations are contained in an amended charge marked FHC/L/783C/2025 before the Federal High Court, Lagos Judicial Division.
The case is based on allegations contained in the charge and does not amount to a finding of guilt against Uloh.
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