CAUGHT WITH HAND IN TILL HOW BANKSTAFF STEAL DEPOSITORS’ FUND

Describing Nigeria as being in dire economic straits may not be an exaggeration. But while millions of Nigerians groaning under the weight of the hard times struggle to save for a rainier day by putting their money in banks, the managers of such funds – the bankers – seem to be having a field day stealing the rewards of such sweat in their care. Time there was, when the apprehension of a bank worker for fraud triggered prime-time mention on electronic media and front-page treatment by newspapers. Today the phenomenon is so rife that, even if it is reported, it hardly raises a salutary notice. Nonetheless, some cases have pierced Nigerians’ armour of indifference and called to question the fidelity of the banking system in the country.

For sure, just like there is no perfect society, no bank remains untainted in the widespread fraud perpetrated by bank staff. But some banks seem to be more prone to this malady, at least, going by the mind-boggling amounts stolen by the staff and the methods they employ, as reported in the media. And though the long arm of the law is catching up with them in droves, the anomalous practice is far from being stemmed.

In this report, we bring you some cases of theft involving bank staff that really jolted the public.

Nwakaego Oke, Wilson Nwajei, Collin Monday Ehindu, Habib Momoh and Olakunle Abiodun were all managers at the Agbor branch of United Bank for Africa (UBA). They were alleged to have stolen N55 million from depositors. These managers, it was learnt, converted depositors’ fund to personal use and issued fake deposit certificate to the depositors. They were also said to have dubiously booked temporary overdraft on accounts of customers while converting the funds to their personal use.

Wilson Nwajei and Collins Monday Ehindu pinched over N50m, using temporary overdraft on the accounts of Dick Royal Ltd. and one Dickson Mildah without the owners’ consent, under the guise that the money was wrongly lodged into the said accounts.

Aside that, N1,077,716 belonging to one David Mike also developed wings and flew into Ehiedu personal use. Nwajei , who joined the UBA in 2001 as a marketer, became the Agbor branch manager in 2009. Ehindu confessed in court that he put about N15m in a forex business which was invested with Sye Capital Ventures, Abuja.

In 2010, Umeh Ndidiamaka, Emeka Onoh, Augustine Afangimoh, Samuel Mabele and Obialla Donatus were arraigned before Justice Candide Johnson in Lagos High Court for stealing N42.5 million from depositors’ money into Delight International Agency account at six different times, valued at N1m, N5m, N2m, and N10m, on the same date (June, 11, 2009). And in 2012, Aigbe Akhidenor and Onajite Enaworo, both of whom are now ex-staffers of UBA, were arraigned before a Warri high court over the theft of N264m and conspiracy to commit fraud.

The theft of depositors’ fund by bankers is not an exclusive preserve of the southern part of the country. In 2019, Justice Dije Aboki of Kano High Court sentenced one Samuel Owoyele, an ex UBA manager, to a jail term of 19 years over fraud worth N27m, which he stole from one Ashiru Munzali Gambo under false pretence that he had $185,000 to sell to him. The offence was allegedly committed on the 9th of December 2009. The judge found Owoyele guilty  on Count 3, which borders on wilful intent to defraud and destruction of a UBA Deposit slip no 23504, an offence punishable under Section 371 of the Penal Code.

Also, Justice Joseph Oyewole sentenced 38-year-old Romeo Omenogor to 10 years in jail for stealing the sum of N10 milion from a depositor’s account in the Ugbowo branch of UBA in Benin City.

Aside staffers stealing from depositors, customers have always complained of illegal deduction via bank charges and ATM. Banks have also been fingered at various times in money laundering allegations and pension frauds.

In the next edition, we shall not only unveil one of the victims of fraud committed by bank staff, but will also reveal some of the latest gimmicks employed by banks to steal from their depositors.

It is pertinent to mention that in our attempt to balance this story, Beth News made phone calls and sent sms messages to the corporate communication offices of some banks, but they were ignored.