Former Ecobank Manager Arrested For Alleged Fraud

The police  on Wednesday arrested a former manager of Ecobank Nigeria Plc, Ejigbo branch, 41-year-old Ikechukwu Aghanenu, for allegedly conspiring with a suspected fraudster, Anthony Okpala, to defraud two customers of the bank of N14m.


The customers are Mrs. Oluremi Egunjobi who is deceased, and  Rabiu Lawal, who is based in the United Kingdom.


The suspects  reportedly diverted N4.014m from the deceased’s customer’s bank account, while N10m was said to have been fraudulently withdrawn from Lawal’s account.

According to The Punch,  34-year-old Okpala and  another suspect currently on the run,  presented themselves to Aghanenu impersonating relatives of the deceased, backing themselves up with  forged documents authorising the bank to release the said sum to them.


It was gathered that the deal was perfected between September and November, 2015 and the money was withdrawn from late Mrs. Egunjobi’s account.


At that period the police said Okpala paraded himself as a business partner of Lawal and allegedly colluded with Aghanenu to withdraw N10m from Lawal’s account in tranches.


A police source stated that investigation of the alleged fraud commenced after a lawyer to the deceased’s relatives and Lawal respectively lodged complaints to the bank, adding that the manager had been sacked.


“The bank reported the fraud to the police and in the course of investigation, it was discovered that the fraudulent transactions were carried out by Okpala with the knowledge of the ex-manager and others at large.


“Okpala presented himself and another suspect at the Ecobank’s branch in Ejigbo as relatives of the late Oluremi (Egunjobi) and instructed the bank to liquidate her account, which was done through the help of the ex-manager. But he (Aghanenu) denied knowing Okpala.


“The other victim, Lawal, works in UK and saves money at the bank with the hope of using the money to invest when he relocates to Nigeria. It was when he checked his account balance that he discovered the withdrawals and complained to the bank.”


PUNCH  learnt that a team of policemen from the Ikoyi division led by one Sergeant Damian Oguinye, picked up Aghanenu and Okpala on Wednesday at the Ebute-Meta Magistrate’s Court, where the latter was allegedly facing another fraud trial.


They were arraigned in an Igbosere Magistrate’s Court on Thursday on five counts bordering on fraud and forgery by a police prosecutor, Friday Mameh.


The defendants, however, pleaded ‘not guilty’ to the counts before the magistrate, Mr. P. A. Adekomaya. They were granted bail in the sum of N3m each with two sureties each in like sum while the case was adjourned till September 6, 2016.

CBN Tells Banks To Accept Cheques For Savings Accounts

The Central Bank of Nigeria (CBN) yesterday directed banks and other financial institution to allow customers operating savings accounts to lodge in cheques.

CBN Director, Banking and Payment System Department, ‘Dipo Fatokun, who disclosed this in a circular, said savings account customers with Bank Verification Number (BVN) should be allowed to deposit cheques not more than N2 million in value into their accounts, per customer per day.

The CBN said the decision to allow cheques in savings accounts is in furtherance of its efforts at
strengthening the Nigerian payments system.

Ecobank Explains Sack Of Workers

Ecobank Nigeria on Thursday said that the recent reorganisation that affected some senior staff was designed to strengthen the bank’s business across all markets.


This is contained in a statement issued by the bank which said that the recent restructuring came after a review of senior staff bench strength and industry standards.


It explained that it was necessary for the bank to realign its work force for better efficiency in line with best practices, adding that those who were affected by the exercise were adequately compensated.


The statement said that the bank was committed to cost efficiency and investment in key initiatives in its transactions, banking, cards and e-banking businesses.


It stated that the bank would continue to simplify its operations to better serve customers to be ahead of the competition in the industry.


“The bank only recently promoted 300 staff, representing 10 per cent of the employees based on the bank’s commitment to recognising and rewarding excellence and exceptional performance,” it said.


The statement said that the bank had commenced a selection process of converting qualified non-core staff to permanent staff.


It will be recalled that Ecobank recently sacked about 50 senior staff to reduce cost. The sack affected general managers, among others.




3 Ecobank Employees Docked For Stealing N2.8m From Customers’ Accounts

Three Ecobank employees were arraigned in Lagos on Tuesday for allegedly stealing N2.8 million from customers’ accounts.



The accused persons – Oluwatoyin Adetunji (41), Oluwatosin Obademi (32) and Olushola Ogunshina (39) – are facing a three-count charge of conspiracy, forgery and stealing before a Tinubu Magistrates’ Court in Lagos Island.



The prosecutor, Insp. Nurudeen Thomas, told the court that the accused persons between July 10 and 14, 2015, forged signatures of several Ecobank customers and stole the sum of N2.8million from their accounts at Iyan-Ipaja branch of the bank.



He said that Adetunji and Obademi, were cashiers while Ogunshina was Information Technology personnel at the bank.



According to the prosecutor, Obademi and Ogunshina claimed that the Adetunji came to them with the deal and promised to pay them N350,000 each.



Thomas, said that the offences contravene Sections 285, 361 and 409 of the Criminal Code of Lagos State, 2011.



The Chief Magistrate, Mrs K.B Ayeye, granted the accused persons bail in the sum of N200,000 with two sureties each in like sum, and adjourned the case to Feb. 22 for hearing.



Ayeyemi Named New CEO Of Ecobank

Pan-African bank Ecobank Transnational Incorporated has named Ade Ayeyemi as its new group chief executive.

Nigerian Ayeyemi, currently head of Citigroup’s sub-Saharan Africa division, will replace Ecobank CEO Albert Essien who is retiring at the end of June. He will lead a bank headquartered in Togo that has operations in 36 African countries