SFU Arrests Banker Over N36m Fraud


Detectives at the Special Fraud Unit, SFU, have arrested a former banker with a new generation bank in Lagos, Olalekan Shefiu Hassan and his accomplice, Omotayo Olalekan Titus, for alleged fraud.


The police alleged that the suspects defrauded the bank through unauthorized withdrawals from customers’ accounts.


The bank, it was gathered, discovered the fraud and lodged a complaint with the SFU.


The bank alleged that Olalekan Shefiu Hassan, an ex staff, defrauded it of N798,000. He was arrested and later released on bail to one Omotayo Olalekan Titus, another ex-staff of the bank who was later discovered to be an accomplice in the fraud. Both of them, it was learnt, disappeared after their release.


Their disappearance prompted the bank to probe further into their activities and it was discovered that about 27 dormant accounts were fraudulently reactivated by them and massive withdrawals amounting to N35,300,000 were made from these accounts.

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Olalekan Hassan later resurfaced after one year and was rearrested with one Makinde Olatunji who allegedly aided him in perpetrating the crime.


Further investigation by the bank revealed that another staff of the bank, one Akogun Bamidele Tunji who was the head of the processing department at the time of the incident, now at large, was also involved in the fraud.


The suspect are being detained at the SFU, pending conclusion of investigation.


The Head of SFU, Chimife Asadu, a commissioner of police, advised banks to ensure they employ people with integrity to avoid a repeat of these occurrences.