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Four in court for defrauding Union Bank of millions

20 November 2013, 15:11

Lagos - The Economic and Financial Crimes Commission (EFCC) has arraigned four suspects, including a former Union Bank Plc employee, for stealing N2 billion (US$12 million) from the bank.

The suspects are appearing before the Lagos High Court.

They allegedly hacked into the bank’s database, known as Flexcube, before stealing the money.

One of the suspects, Danasabe Ibrahim, resident in Jos, Plateau State, was an employee of the bank while the three others, Salihu Mahmoud, Friday Isaiah and Samuel Azaaior, reside in Lagos.

The accused persons have been charged with three counts of conspiracy to defraud, unauthorised access to computer data and unauthorised modification of computer data.

They were alleged to have in January, along with others who are still at large, fraudulently transferred N2.05bn from the General Ledger Account of the Jos Branch of Union Bank to the bank accounts of some bureaux de change domiciled in Marina and Moloney Street in Lagos.

Gona Bureau de Change and Dankawa Bureau de Change were beneficiaries of the fraudulent transfer, according to the EFCC prosecutor, Kayode Oni.

Their alleged offences were said to have contravened Sections 323, 385 and 387 of the Criminal Law of Lagos State of Nigeria 2011.

Justice Lateef Lawal-Akapo ordered that the accused persons be remanded in Kirikiri Prisons after they pleaded not guilty to all the charges preferred against them.

– CAJ News

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