₦710 Million Fraud: Police Arraigns Banker, Seven Others In Lagos

A banker and seven other people have been arraigned before the Federal High Court in Lagos over an alleged ₦710 million fraud involving bank accounts and disputed financial documents.

Naija News reports that the suspects were brought to court by the Police Special Fraud Unit (PSFU), Ikoyi, Lagos, on a 12-count charge over the alleged release of ₦710 million from eight bank accounts that had been blocked from withdrawals and transfers.

The suspects are Elvis Osazee Eghile, Egharevba MaryJane Osarieyekemwen, Precious Omonigho Irbhogbe, Aghatise Kelvin Uhuenkpoewen, Nweke Nnamdi Emmanuel, Obinyan Esther, Egharevba Emmanuel Osagioduwa and Emmanuel Obinyan Osenonome.

The Commissioner of Police in charge of the unit, Eloho Edwin Okpoziakpo, disclosed this in a statement on Wednesday, October 14.

He said the police began investigating the case after receiving a petition over the alleged release of the money.

According to him, Osenonome, a banker and Senior Relationship Officer, allegedly worked with Emmanuel Egharevba to get other people’s personal details and use them to open bank accounts.

The police suspect that the accounts were used to move money linked to the alleged fraud.

Okpoziakpo said an examination of the bank transactions showed that large amounts of money were transferred to accounts linked to people close to the main suspect.

Those linked to the accounts included Nweke Nnamdi Emmanuel, Obinyan Ebehiemen Doris, who was described as Osenonome’s sibling, Egharevba Emmanuel Osagioduwa and Esther Olohitare Obinyan, identified as Osenonome’s wife.

The police also alleged that fake or disputed proof-of-funds documents and other banking papers were used in the transactions.

As part of efforts to recover the money, investigators reportedly found some assets they believe may have been bought with the proceeds of the alleged fraud.

They include a 2020 Lexus RX 350 worth ₦25 million, two Toyota Camry cars valued at ₦8 million each and a plot of land at Magodo Phase I, Lagos, reportedly bought for ₦40 million.

The police commissioner also alleged that some of the money was spent on personal bills and gambling, while ₦40 million was invested in CIBEX trading.

He further claimed that part of the funds was used to set up and furnish a spa and beauty business at a cost of about ₦60 million.

Okpoziakpo said the unit would continue to investigate the case and other financial crimes involving suspected misuse of banking procedures.

He added that the police would gather and document evidence properly before presenting it in court.