The Economic and Financial Crimes Commission, (EFCC) has arrested Kogi State House of Assembly candidate of the New Nigeria Peoples Party, (NNPP), Ismaila Yusuf Atumeyi with N326 million and $140,500 cash.
EFCC in a statement on Tuesday said Atumeyi who is seeking to represent Ankpa 11 Constituency in the Kogi State House of Assembly was arrested on Sunday together with an alleged serial fraudster, Joshua Dominic in a sting operation at Macedonia Street, Queens Estate, Karsana, Gwarinpa, Abuja.
Also arrested in connection with the fraud is a former bank employee, Abdumalik Salau Femi, who allegedly supplied the inside information that facilitated the attack on the bank by the syndicate. He was picked up on Tuesday at 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.
The syndicate allegedly moved N887million 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.
The statement explained that Dominic who has been arrested on several occasions for fraud, allegedly helped Atumeyi perfect the hacking plan through Abdumalik.
Also Read: EFCC Hails CBN’s Move To Clampdown On Currency Hoarders
Dominic, a self-styled investment expert and Managing Director of Brisk Capital Limited was arrested in May 2021 by the Special Fraud Unit of the Nigeria Police for an alleged N2billion investment scam.
He allegedly defrauded over 500 persons in a phony investment scheme.
Two Range Rover Luxury SUVs were also recovered from the two suspects arrested in Abuja.
The EFCC said the suspects would be charged to court as soon as the investigation is concluded.
Meanwhile, the Commission expressed concerns over the rising spate of cyber-attacks on banks and the reluctance of the Institutions to report such breaches to the law enforcement agencies.
While warning that such reluctance would only embolden the criminals, the commission appealed to financial institutions to collaborate with it to secure the financial sector from threats of cyber-attacks.
The EFCC had in the wake of the recent announcement by the Central Bank of Nigeria, (CBN) of plans to redesign and re-issue higher denominations of the Naira, warned Bureau de Change operators to be wary of currency hoarders who would attempt to seize the opportunity to offload the currencies they had illegally stashed away.
(Editor, Omor Bazuaye)
