KANO BANKER, THREE OTHER ARRESTED FOR MONEY FRAUD

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The banker, Kamaluddeen Lawal, and three businessmen have been arrested in Kano over their fraudulent engagement in recycling and manipulating the specific amount of cash deposited in the bank for savings.

The three alleged accomplices include Ismail Ibrahim Ilu, Lamido Bala, and Abba Mohammed. The three alleged accomplices had been arrested by operatives of the Kano Directorate of the Economic and Financial Crimes Commission over their dubious bank transactions.”

The EFCC spokesperson, Dele Oyewale, confirmed the arrest in a statement late Tuesday night. The suspects were apprehended on Unity Road, Kantin Kwari Market, Kano, following credible intelligence on the activities of some individuals, suspected of being trafficking huge sums of money in cash.

According to the statement, the suspects were experts at finding mutilated naira notes from various banks, taking a few notes out of each bundle and depositing them into their bank accounts. They would then pick a specific bank and give their banker accomplice the original amount of money.

“The suspects were perpetrating the fraud by going to their respective banks, requesting a certain denomination (in this case N200 notes) and carefully removing a few notes from each bundle. Thereafter, they would hand them over to their accomplice at the bank.

“The accomplice will collect the money and make entries as filled in the tellers without counting them on the agreement that they would later give him his share of the money they removed,” Oyewale said.

The statement state that as of the time of the suspects’ arrest, a total of N7.5 million had been recovered from them.

An EFCC official stated that the anti-graft agency will bring charges against the individuals in court as soon as the investigations were concluded.