Connect with us

News

Customer Alleges UBA Of N2M Online Fraud, Petitions CBN

Published

on

The United Bank of Africa under the control of Kennedy Uzoka is being called out for causing severe pains to the lives of many of their customers.

A customer of the bank,  Olori Adenike Babalola Okekporo, became a victim of online fraud on Tuesday May 24, as her account with the bank got emptied of N2 million naira.

Efforts to get the bank to return the money since the lapse happened from their end and she didn’t make the withdrawals, has proved abortive which prompted Okekporo to publicly voice out her frustration.

According to the lady, most of the money was fraudulently withdrawn while she was on a telephone call with the bank’s customer service.

“Finally @UBAGroup has aided fraudstars and hackers to empty my account. 2 million naira gone within minutes while I was on call with their call center reporting suspicious activity on my account. @cenbank (Central Bank of Nigeria) tell @UBAGroup to refund my money.

“Immediately I received the first N500,000 alert, I called the bank immediately. While the customer care was still asking me stupid questions, the second alert of another N500,000 entered and another and another.

“These people messed with me psychologically. N2.1m naira just disappeared from my account. UBA you will kill me first. I can’t remember the last time I cried like this. I feel so helpless,” she lamented.

“I don’t have an ATM card for the said account so UBA, explain to me why you refused to transfer my funds since February that I wrote to you.

“How were they able to withdraw above the daily limit, how?” she wondered.

Besides the 2 million naira, Okekporo claimed that the bank had earlier refused to release the money her university, which she didn’t name, refunded her.

“Just because I was begging @UBAGroup and @UBACares to release the money my university gave me. @cenbank tell @UBAGroup to refund my money. Nigerians help me.

“Every student in the UK and @cenbank should help me beg @UBAGroup to give me my £1050 my university refunded since November 2021. Presently, I’m stranded and I need to pay my house rent. I don’t have any other money.

“@cenbank should please help me on this issue. My landlord in the UK gave me 8 days to pay my rent.

“When you see me under duvet on the street, homeless, just know that UBA Group and Central Bank of Nigeria did that to me because my landlord will not hear stories.

“And @UBACares have stopped responding to my email. My £1050 has been in that bank since 2021. And I has requested for it to be transferred since February 2022.’m yet to receive it.

“I made my transfer request since 23rd of February 2022. After filling series of forms, I was made to do video verification on WhatsApp on the 4th of April. The officer said my issue would be sorted within 48hrs.

“Last Thursday, I recharged my Nigerian line so I could call their customer care because the same CFC has refused to respond to my email, yet I have not received my money. Today is 21 May 2022. I did video verification on the 4th of April.

“It was while I was on call with them that this fraud was committed.”

Below is a screen shot of the debit of N2 million

 

The bank having been called out on social media, reached out to Okekporo.

“Hello @OloriAdenike13, thank you for contacting UBA, Africa’s Global Bank. Kindly provide your mobile number, account number, email address and date of the disputed transaction to enable us assist. We regret any inconvenience this may cause. Thank you.”

The account was eventually frozen and her debit card blocked by the bank after the fraudulent transactions, to safe guard the account.

Although she had earlier stated that she doesn’t have a debit card for that account, the bank however informed her of the need to request a new debt card at the cost of N1,075.

 

 

Additional Report; Streetjournalmagazine

Business

‘I’m closing down my businesses and leaving Nigeria’ Fayose puts hotel up for sale

Published

on

By

For Isaac Fayose, it’s a tough deal doing business in Nigeria!

 

The younger brother of former Ekiti State Governor, Ayo Fayose in a tone of frustration recently revealed his plans to shut down his businesses and move back abroad where he was once a resident.

 

Talkin about his plans, the businessman who runs the security outfit, ANIS Guards stated he has been selling off his businesses in a get-away move.

 

Isaac has already put his Viewpoint Signature Apartment in Lekki, Lagos up for sale.

 

Insiders hinted that he had also sold some of his properties in Ibadan.

 

The businessman hinged his reasons on the high cost of running his businesses and future plans.

Continue Reading

Business

Depositors Panic Over N40B Fraud At First Bank

Published

on

By

Some depositors of the Olusegun Alebiosu led First Bank of Nigeria Limited are stiff worried about the N40 billion fraud that rocked the bank.

 

They are perturbed that the staggering amount involved in the fraud might affect their deposits, we gathered that some of them have been trooping to the bank to withdraw their money or transfer to another bank.

 

The staff of the old generation bank, Tijani Muiz Adeyinka, who perpetrated the fraud and his wife have escaped according to findings.

 

 

When officials of the bank sent security men to arrest Adeyinka, they could not locate his whereabout, so they stormed his wife’s office but could not arrest her because she escaped through the back door of her office.

 

First Bank, which has a market capitalisation of ₦829 billion has begun legal action to recover “huge sums of money” allegedly diverted by Adeyinka, an employee at a head office team in Iganmu, Lagos.

 

Adeyinka allegedly diverted those funds to 98 bank accounts classified as first beneficiaries, including his wife’s account.

 

 

The bank reported the incident to the Nigerian Police Force on March 25, 2024, and obtained three court orders between April 4–8, 2024 to block hundreds of bank accounts believed to have received the stolen funds.

 

Gathered that while the initial amount discovered to be diverted was around ₦12 billion, it now stands at around ₦40 billion ($29 million).

 

Adeyinka, a manager on the electronic products team at First Bank, allegedly authorised the process of reversals for customers.

 

Adeyinka controlled an account with which he processed those reversals and could credit merchant accounts.

 

The banker allegedly used that authority to instead credit customer reversal requests to a merchant he controlled. As the last line of authorisation on the team, he allegedly did not need any further approvals, it allowed him to carry on diverting customer funds for almost two years without detection.

 

His scheme was eventually discovered when a customer made a complaint that was eventually escalated to the bank’s internal control unit. The control unit discovered several suspicious transactions and reported to the police.

 

“We hereby bring to your notice the discovery of fraudulent transactions into various transactions within and outside the bank and request your good offices to set up the machinery of investigation in place with a view to unravel the circumstances surrounding the said fraud and get the culprits arrested to face the wrath of the law,” read a letter dated May 10, 2024, from First bank to the Lagos State Commissioner of Police.

 

“I discovered that one Muiz Tijani Adeyinka, a former staff of First Bank was involved in the nefarious posting of fraudulent transactions,” read a statement from the investigating Police officer in charge of the case signed March 26, 2024.

 

“It was discovered that he made some fraudulent transactions to his wife’s account number (name withheld) domiciled with Zenith Bank, which in turn transferred to other beneficiaries totaling thirty-four accounts which also gave birth to second beneficiaries domiciled with other banks totaling 1,190 accounts,” the statement added.

 

 

First Bank obtained an order on April 8 to block the bank accounts of the first and second beneficiaries of the illegally obtained funds from a Federal High Court in Lagos. The bank also obtained additional orders dated April 8 and May 5 from a Jalingo and a Lagos high court to block additional accounts believed to be involved in the incident.

 

One first beneficiary account reportedly used some of the stolen funds to buy the stablecoin USDT from several crypto traders detailing their bank accounts.

 

 

Those traders claimed their only involvement was selling USDT and denied knowing the funds they received were proceeds of fraud. They have now been drawn into a legal battle with the bank with restrictions on their accounts at the time of this report.

 

Efforts to make Chinwe Bode-Akinwade of Corporate Communications department of First Bank, react to the development met a brickwall as she was yet to respond to our inquiry as at time of filing this report.

 

Stakeholder have been reacting since the fraud was reported in the media. They took to their X handle to react to the development.

 

 

In his comment on X, one Dr A. TuruMbe said the revelation brought to his memory a case 20 years ago when he worked with a bank on Ahmadu Bello way in Victoria Island, Lagos.

 

Another user of X claimed the money that was stolen “is from dispense error, it gets moved by the end of work day and transaction deleted. It has gone for about two years, what gave him away was the issue of submarine cable that affected telcos and banksd in April. The transaction piled up for those days.”

 

According to another commentator on X, “banks and other financial institutions need to have elevated risk management and fraud detection systems in place. The downside of evolving technology is that crooks will always want to exploit any vulnerability to their advantage.”

There have also been questions as to why this fraud went on for as long as it did. According to Nkwuda Chinedu, “there are much obvious questions begging for answers – is their system not automated? Is there no Maker-Checker in place as known traditionally in banking? Has the staff no supervisor and no audit for the period?”

 

Other commentators have also asked to know how one staff can be left solely in charge of reversal funds where he would have unchecked access to move funds unchecked?

 

 

Mr Victor Frank in a comment on X, said, “the problem with the Nigerian government is evident in the banking sector. I cannot imagine how a whooping N44bn will be scattered around without triggering an alert.”

 

One bank customer on X said because the alleged culprit was stealing bank customer reversal, it was hard for the bank to detect and that this is why bank customers wait endlessly to have

their transfers reversed and their bank accounts credited.

Continue Reading

News

‘Seye Will Return To Ilesa’! The Interview That Lands Lamidi Auxilliary In Trouble

Published

on

By

To the dethroned Oyo State Park Management System boss, Lamidi Auxilliary, it was like a bad dream when he was paraded by the police and charged to court recently.

 

Papermacheonline can reveal that the accused, a former aide of Governor Seyi Makinde landed himself in trouble after granting an interview where he threatened another top aide of the governor, Seye Famojuro and promised to reveal more in another interview.

 

Just some hours after the interview, Auxilliary was arrested by the DSS in his home at Olodo, Ibadan before he was later paraded and charged to court for murder, armed robbery and illegal arms posession.

 

A source hinted papermacheonline that Auxilliary’s threat to reveal more was like a death knell, explaining that he was the head of Governor Makinde’s ‘protection team’ and his decision to start granting interviews on radio is unacceptable. Again, the person he threatened, Seye Famojuro is the closest person to Governor Makinde.

 

The source furthermore explained ‘are you aware he just left the UCH some months ago? He was hit and injured by a car when he went to buy drugs, he almost died! So, we all wondered how he could get so silly and start granting interviews. He is just an illiterate and there are so many evidence against him’. The source revealed.

 

In the interview he granted to Media personnel, Ajibola Akinyefa, in the Yoruba Language, the former PMS chairman said, “If he (Famojuro) is the governor or Seyi Makinde is, we will know. It is just a matter of time. Everybody will face the consequences of their actions. The people he chose to manage the park are cheating themselves.

 

hen asked if it was his hooliganism that led to his removal, Auxiliary queried how many people reported that he beat them to the police.

He further said that Seye would still return to Ijesha because Ibadan is not his homeland.

 

 

Continue Reading

Trending