2 bank managers in trouble over alleged N29m fraud

Posted by admin Headlines Tuesday, June 14th, 2011

Two managers of a commercial bank in Suleja, Niger State, are now in trouble over an alleged N29 million fraud.

Already, one of the managers has been detained by the police while the other has bolted away, having got the hint that he was being sought for by police investigators.

Vanguard gathered that the fraud blew into the open when some auditors from the head office of the the bank visited the branch office for routine auditing.

After the routine check, some irregularities were said to have been uncovered in transactions which warranted the management to embark on an in-depth investigation of the branch accounts before the police were invited.

The branch manager on getting a wind of the invitation, however, absconded while his head of operations was picked up.

The head of operations, who was handed over to the Anti-Fraud Unit of the SCID was said to have opened up during investigation.

Meanwhile, while police are still hunting for the branch manager, his Head of Operations, (names withheld) has been charged before a Minna Senior Magistrate’s Court 111 on a three-count charge of criminal breach of trust, conspiracy and theft.

According to the Police Prosecutor, Inspector Abdullahi Aliyu the offences were punishable under Sections 97,288 and 315 of the Penal code.

He therefore objected to his bail based on the fact that investigation into the case had just begun and that ‘’there is likelihood for him to interfere with further investigations’’.

Presiding magistrate, Hajiya Bilkis Gambo Yusuf then ordered that the accused person be remanded in prison custody till Wednesday, June 22 for further hearing.

-Vanguardwp_posts