A Kogi State House of Assembly candidate of the New Nigeria Peoples Party, Ismaila Atumeyi, was arrested with N326 million and $140,500 cash by the Economic and Financial Crimes Commission.
According to The PUNCH, Atumeyi who is seeking to represent Ankpa 11 Constituency in the Kogi State House of Assembly was arrested on Sunday, October 30, 2022.
It was gathered that he was arrested alongside one Joshua Dominic, an alleged serial fraudster, in a sting operation at Macedonia Street, Queens Estate, Karsana, Gwarinpa, Abuja.
A former bank employee, Abdumalik Femi who allegedly offered inside knowledge that allowed the syndicate’s attack on the bank, was also detained in connection with the fraud.
The news of the arrest was confirmed by EFCC spokesperson, Wilson Uwujaren.
According to him, Femi was picked up today (Tuesday), November 1, 2022 at the Radisson Blu Hotel in Lagos.
“Following his arrest, a search was conducted on his home in Morgan Estate, Ojodu where a total of $470,000 USD was recovered.
“The arrest of the suspects followed months of investigation into the hacking of one of the commercial banks by a syndicate of fraudsters who pulled off a heist of N1.4billion,” he said.
The syndicate allegedly moved N887 million into the account of Fav Oil and Gas Limited, from where the monies were paid to several Bureau de Change operators and some auto dealers for exchange into United States dollars and purchase of high-end cars.
Dominic, who has been arrested multiple times for fraud, allegedly assisted Atumeyi in perfecting the hacking strategy through Abdumalik. Dominic, a self-proclaimed financial expert and Managing Director of Brisk Capital Limited, was arrested in May 2021 by the Nigeria Police Special Fraud Unit for an alleged N2 billion investment scam. In a bogus investment scheme, he allegedly duped over 500 people.
The two individuals apprehended in Abuja also had two Range Rover Luxury SUVs confiscated.
Uwujaren stated that after the inquiry was completed, the suspects would be charged in court.
Meanwhile, the panel is concerned about the increasing number of cyber-attacks on banks and the institutions’ unwillingness to report such breaches to law enforcement.
The EFCC urges to financial institutions to work with it to defend the financial sector from dangers of cyberattacks while cautioning that such timidity would only empower criminals.
After the Central Bank of Nigeria recently announced plans to redesign and reissue higher denominations of the naira, the EFCC warned Bureau de Change operators to be on the lookout for currency hoarders who would try to take advantage of the opportunity to sell the currencies they had illegally hidden away.