The Economic and Financial Crimes Commission (EFCC) has arrested a candidate into next year’s election into the Kogi State House of Assembly, Ismaila Atumeyi for being allegedly in possession of N326 million and $140,500 cash.
Atumeyi, a member of the New Nigeria Peoples Party who is seeking to represent Ankpa II constituency, was arrested on Sunday alongside one Joshua Dominic, an alleged serial fraudster, in a sting operation at Macedonia Street, Queens Estate, Karsana, Gwarinpa, Abuja.
Also arrested in connection with the alleged fraud is a former bank employee, Abdumalik Femi, who allegedly supplied the inside information that facilitated the attack on the bank by the syndicate.
EFCC spokesperson, Wilson Uwujaren said that Femi was picked up on Tuesday at the Radisson Blu Hotel in Lagos.
“Following his arrest, a search was conducted on his home in Morgan Estate, Ojodu where a total of $470,000 was recovered.
“The arrest of the suspects followed months of investigation into the hacking of one of the commercial banks by a syndicate of fraudsters who pulled off a heist of N1.4 billion”, he said.
The syndicate allegedly moved N887 million into the account of Fav Oil and Gas Limited, from where the monies were paid to several Bureau de Change operators and some auto dealers for exchange into United States dollars and the purchase of high-end cars.
Dominic, who has reportedly been severally arrested for fraud, allegedly helped Atumeyi perfect the hacking plan through Abdumalik. Dominic, a self-styled investment expert and Managing Director of Brisk Capital Limited, was arrested in May 2021 by the Special Fraud Unit of the Nigeria Police for alleged N2 billion investment scam.
He allegedly defrauded over 500 persons in a phony investment scheme.
Two Range Rover Luxury SUVs were also said to have been recovered from the two suspects arrested in Abuja.
Uwujaren said that the suspects would be charged to court as soon as the investigation was concluded.
The commission also expressed concern about the rising spate of cyber-attacks on banks and the reluctance of the institutions to report such breaches to law enforcement.
While warning that such reticence would only embolden the criminals, the EFCC appealed to financial institutions to collaborate with it to secure the financial sector from threats of cyber-attacks.
Following the Central Bank Nigeria’s plans to redesign and re-issue higher Naira denominations, the EFCC warned Bureau de Change operators to be wary of currency hoarders who would attempt to seize the opportunity to offload the notes they had illegally stashed away.
