The Nigeria Police Force has arrested two suspects over a ₦713,900,000 fraud linked to a breach involving a third-party banking platform.
The police in a statement signed by Anthony Okon Placid, Force Public Relations Officer Force Headquarters, Abuja said the case followed a complaint by a financial institution which reported unauthorised debits on customers’ accounts, leading to an investigation by the Police Special Fraud Unit (PSFU).
Investigations showed that 15 customers’ accounts were compromised, with funds transferred through multiple accounts in a coordinated operation.
“The operation led to the arrest of two suspects, Oguntoyinbo Olawale and Kazeem Omokayode,” Placid said.
Explaining the findings of further investigations, the police stated: “Further investigations established that the suspects conspired with one Linda, a Chinese national currently at large, to use personal identification details, including Bank Verification Number (BVN), National Identification Number (NIN), and other credentials, to open multiple bank accounts across various financial institutions.
“These accounts were subsequently used to receive, conceal, and launder illicit proceeds.”
Outlining the next steps in the case, the statement added: “The suspects currently in custody will be arraigned before a court of competent jurisdiction, while efforts are being intensified to apprehend other members of the syndicate still at large.”
According to the statement, the Inspector-General of Police, IGP Olatunji Rilwan Disu, “commended the officer of the Police Special Fraud Unit for their efforts and reaffirmed the commitment of the Nigeria Police Force to combating financial and cyber-enabled crimes.”
