Tag: Banking Fraud

Alleged N12.3b Fraud: EFCC To Arraign Otudeko, Ex-First Bank MD
January 17, 2025 No Responses

Alleged N12.3b Fraud: EFCC To Arraign Otudeko, Ex-First Bank MD

The Economic and Financial Crimes Commission (EFCC) has filed a 13-count criminal charge against the Chairman, Honeywell Group, Chief Oba Otudeko and a former Managing Director of First Bank, Olabisi Onasanya for allegedly obtaining the sum of N12.3bn from First...
read more
UBA, Four Others Face $900k Fraud Charges
August 13, 2024 No Responses

UBA, Four Others Face $900k Fraud Charges

United Bank for Africa (UBA) Plc has announced a strategic partnership with the Young Lawyers Forum (YLF) of the Nigerian Bar Association (NBA) with the aim to propel the professional development of over 50,000 young legal practitioners across Nigeria, by...
read more
Again, Ecobank Alerts Customers On Sim Card Fraud
October 2, 2023 No Responses

Again, Ecobank Alerts Customers On Sim Card Fraud

Ecobank has once again, raised alarm on the dangers of SIM swap fraud, stressing that fraudsters could use it to impersonate them.  In a message to customers via email, the bank explained that SIM swap fraud occurs when scammers use...
read more
CBN Releases Framework Against Cyber Attack
August 18, 2021 No Responses

CBN Releases Framework Against Cyber Attack

The Central Bank of Nigeria (CBN) on Tuesday released a framework to protect Other Financial Institutions (OFIs) against cyber-attack.  This was contained in a memo issued by Nkiru Asiegbu, CBN’s Director, Other Financial Institutions Supervision D...
read more
Ex-Bank PHB MD Jailed For N25.7b Fraud, Wife Acquitted
June 17, 2021 No Responses

Ex-Bank PHB MD Jailed For N25.7b Fraud, Wife Acquitted

An Ikeja High Court on Wednesday night sentenced Francis Atuche, a former Managing Director of the defunct Bank PHB (now Keystone Bank), to six years’ imprisonment for defrauding the bank of N25.7 billion.  In a 12-hour judgment, Justice Lateefa Okunnu....
read more