Bank Staff Declare ‘Wanted’ For Diverting Customers’ Money
A First Bank employee, Tijani Adeynka, has been declared wanted by the Nigeria Police Force for his alleged involvement in a fraudulent scheme amounting to approximately N40 billion.
According to a report by Nairametrics, Tijani, who worked in the electronic products team at First Bank, allegedly misused his authority to process customer reversal requests, diverting funds to a merchant under his control.
The Police Gazette Bulletin issued by the Force Criminal Investigation Department (FCID) INTERPOL section states that Tijani faces charges including criminal conspiracy, criminal breach of trust, cheating, and banking fraud.
The offences were said to have occurred between 2016 and March 25, 2024, at First Bank of Nigeria Limited.
First Bank reported the incident to the Nigerian Police Force on March 25, 2024, and obtained court orders between April 4–8, 2024, to block numerous bank accounts suspected of receiving the stolen funds. Initially estimated at N12 billion, the amount diverted later rose to approximately N40 billion.
This case underscores concerns about bank staff involvement in fraudulent activities within the banking sector.
Data from FITC indicates that out of 270 bank staff implicated in fraud in 2023, only 54 faced termination of employment, suggesting a lenient approach to addressing internal misconduct.
While there has been a decrease in outsider involvement in fraudulent activities, insider complicity remains relatively consistent, highlighting ongoing vulnerabilities within banks’ internal systems and controls.
