Published On: Thu, Dec 13th, 2012

Three Bank Managers Dock in Asaba over N55,1m Fraud

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By Our Reporter
United Bank of Africa (UBA) has dragged three of his bank managers to Asaba for allegedly defrauding the bank to the tune of about N55,157,977.53.
An Asaba high court in Delta State, southsouth Nigeria, has however adjourned the case till next year for the continuation of the trial of the three senior managers of United Bank for Africa Plc, UBA Plc, Wilson Nwajei, Monday Ehiedu and Nwakaego Eka and two other accused persons, Habib Momah and Olakunle Abiodun, alleged to have been operating illegal loan business within the bank.

The arrangement and subsequent trial of the accused bank managers and their co-conspirators was sequel to a petition written by UBA Plc to the Economic and Financial Crime Commission, EFCC, to investigate three of their staff, Wilson Nwajei, the Business Manager, Monday Ehiedu, the Relationship Manager and Nwakaego Eka, Branch Operation Manager, all of Agbor branch of the bank. For cash suppression and diversion of credit facilities availed on customers accounts.
According to the petition co-signed by Ojo Oladimeji and Bukola Joga, investigation and head of Fraud prevention and Investigation respectively, as at the time the petition was written the bank had uncovered fraud of N55,157,977.53 as the accused were alleged to have converted several customers funds meant for fixed deposit and issued them with fake deposits certificate.
In an eight-count criminal charge number A/EFCC/4C/2012 filed before the court by an EFCC legal officer, Ali Yusuf, the three UBA Plc staff and their co-conspirators were alleged to have stolen and fraudulently converted N5 million in fixed deposit of a serving judge of Delta State, Justice F.O Ohwo, by fraudulently liquidating the account without her consent to grant an unauthorised loan to Ika North Local Government of Delta State, repayment of which they warehouse in a fraudulent account and withdrew same.
Other victims of the accused bankers who have been allegedly defrauded of about N55,157,977.53 are Dickom Petroleum Development, A.O. Paulson Enterprises, Buzugbe Bartholomew Enterprises, Cysonic Venture Services, Sun Ekah and Inis Ugoh Limited.

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