Skye Bank Pays N52m From Client’s Account With Fake Cheque, No Confirmation!

…hurriedly refund as police wades in

The police are presently prosecuting a baffling case involving financial institution headed by Mr kehinde Durosinmi Etti- Skye Bank.

The main issue in the case pertains to how two cloned cheques were used to withdraw fifty two million naira from a customer’s account in two separate instalments without confirmation from the account holder!

The victim of the fraud is the Lagos State Ministry of establishment and training.

And before any of the ministry’s cheque is honoured a letter of confirmation is obtained and the cheque also taken back for re confirmation before by any of the signatories before it is honoured.

Strangely two cloned cheques with numbers 10000738 and 1000079 did not follow this procedure- they were honoured.

And when this anomaly was discovered the Skye Bank officer responsible for the payment claimed he received a confirmation letter via e mail. The said confirmation letter couldn’t be produced on demand.

This development transpired at Alausa Secretariat branch of Skye Bank.

Further investigations later revealed that the ministry of Establishment did issued two cheques with the same numbers as the cloned cheque but to other individuals and amounts far lesser than the ones cashed with the cloned cheques.

The original cheques bore the sums of N400.000 and N4,249,429.40.

The cloned cheques bore N23,830,192 and N26,750,400.

Documents made available to www.societynowng.com revealed that the bank was forced to refund the money cashed with cloned cheques to the ministry when officials of the government entity threatened to make trouble.

One of the cloned cheque was traced to an Intercontinental bank account with holders name Olu Obafemi Ventures and the police brought in and the beneficiary arrested. The police are said to be diligently working on tying up all loose ends in the case.
Bank Corporate Affairs Manager, Kayode Akinyemi failed to respond to enquiry when contacted.