The Special Fraud Unit is investigating a case of conspiracy, forgery and stealing involving one Kayode Adeyanju, an Ex-Manager of Sterling Bank Plc, Sokoto Branch and five other staff attached to the same branch.

The bank alleged that the principal suspect, Kayode Adeyanju who is currently at large conspired with five above listed staff to defraud the Sokoto Branch the sum of One Hundred and Forty-Six Million, Seven Hundred and Eighty-Two Thousand, Nine Hundred and Eighty Naira (N146,782,980.00) by manipulating the Sokoto State Board of Internal Revenue account domiciled with the branch.  The bank further stated that the money was diverted to their personal purse without the consent of the bank management.

During investigation, five suspects were apprehended and they all admitted granting various illegal loans to some private companies and local government department through the instruction of the ex-bank manager, Kayode Adeyanju who is still at large.  They all alleged that the principal suspect took the sum of N70 million belonging to depositors to treat himself of his ailment and bolted away to London with his family.          

Investigation is on-going while measures have been put in place to track the fleeing ex-bank Manager and forestall insider threat to the financial and non-financial institutions in the country.

However, all the suspects will arraigned in court soonest to serve as deterrent to other bankers.                                 

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