EFCC Arrest Oceanic Bank Manager For N2B Fraud

Oceanic Bank, the financial institution being bailed out via acquisition by another bank, Ecobank Transnational Inc is presently in the middle of growing investigations into a major fraud.

Sources divulged that Anti Corruption agency, Economic Financial Crimes Commission (E.F.C.C) is currently quizzing one of the branch managers of the bank over a N2B fraud.

The suspect is identified as Dele, the boss of the Idiroko, Ogun state branch of Oceanic Bank.
Farida Waziri, EFCC

Information at the disposal of societynowng.com revealed that the investigations that netted the bank manager into EFCC detention centres around siphoning funds from customers account.

Peripheral findings by the agency pegged the stolen fund at N2B- there are indications that there are others yet to be discovered by the E.F.C.C.

Informants disclosed the particular ‘deal’ that put the agency onto them as that of a Rural Electrification Project Account.

Findings revealed that about N2.3B was moved from the account of the Federal Government Agency in the bank into a dormant one.

About N3.5m had been withdrawn from the dormant account before the EFCC waded into the matter.

Dele, the branch manager was a prime suspect because he failed to notify his superiors about the movement of such an amount into a dormant account domicile in his branch. And he also allowed the withdrawal of N3.5m of the transfer.

The EFCC is working on the premise that his involvement in the fraud is beyond the ordinary.

There are different colourations to the explanations on how the EFCC got involved in the mix.

It is believed that the prosecution of the Bank’s former managing director, Cecilia Ibru for corrupt practises not to long ago aided the Agency’s involvement in the case.

Spokesperson for Oceanic bank- Nonye refused to respond to enquiries on the issue.