The Economic and Financial Crimes Commission (EFCC) has taken into custody two former employees of Union Bank in Makurdi, Benue State, over allegations of stealing N4,199,500 from the account of a deceased customer. This significant development was disclosed by the EFCC’s spokesperson, Dele Oyewale, in a statement released on Saturday in Abuja.
Arrest of Suspects
According to the statement, the suspects, identified as Idah Ogoh and Agbo Okwute, were apprehended on Friday in Makurdi. The arrest was a result of a petition filed by Union Bank, which highlighted fraudulent activities involving unauthorized debits on the account of a deceased customer, Emmanuel Azer Agenna. The bank’s internal investigation revealed that the suspects had engaged in illegal transactions, leading to their eventual arrest by the EFCC.
Discovery of Fraudulent Activities
The fraudulent activities came to light when the family of the deceased, Emmanuel Azer Agenna, approached Union Bank to inquire about the balance on his account for probate processing. Probate is the legal process of administering the estate of a deceased person, and it often requires accurate financial information. However, the family was taken aback when the balance provided by the bank did not match their expectations. This discrepancy prompted them to lodge a formal complaint with the bank, questioning the unauthorized debits on the account.
Internal Investigation by Union Bank
In response to the family’s complaint, Union Bank initiated an internal investigation to uncover the truth behind the disputed account balance. The investigation revealed that a debit card had been procured on the deceased customer’s account on May 10, 2023. This debit card was obtained by Idah Ogoh, one of the bank’s Sales and Service Associates, and was authorized by the bank on the same date. The findings indicated that Ogoh had handed over the procured debit card to another Sales and Service Associate, Agbo Okwute.
Role of the Accomplice
Further investigation by the bank revealed that Agbo Okwute had delivered the debit card to an accomplice, who then used it to transfer and withdraw funds from the deceased customer’s account. The accomplice, whose identity has not been disclosed, allegedly made several withdrawals from the account, amounting to N4,199,500. The unauthorized transactions were carried out over a period, leading to a significant depletion of the account balance.
Legal Proceedings
The EFCC has stated that the suspects, Idah Ogoh and Agbo Okwute, will be charged to court as soon as the investigations are concluded. The commission is committed to ensuring that justice is served and that those involved in fraudulent activities are held accountable for their actions. The case highlights the importance of vigilance and transparency in financial institutions to prevent such incidents from occurring in the future.
Implications for Financial Institutions
This incident serves as a stark reminder of the need for stringent security measures and internal controls within financial institutions. Banks and other financial entities must prioritize the protection of their customers’ assets, especially in cases involving deceased individuals. The unauthorized procurement and use of a debit card on a deceased customer’s account underscore the vulnerabilities that can be exploited by unscrupulous individuals.
Conclusion
The arrest of Idah Ogoh and Agbo Okwute by the EFCC marks a significant step towards addressing financial crimes and ensuring accountability within the banking sector. The case of the stolen N4,199,500 from the account of a deceased customer serves as a cautionary tale for financial institutions to enhance their security protocols and maintain the trust of their customers. As the investigation progresses, it is hoped that justice will be served, and measures will be put in place to prevent similar incidents in the future.
The EFCC’s swift action in apprehending the suspects demonstrates its commitment to combating financial crimes and protecting the interests of the public. The case also highlights the importance of transparency and accountability in the banking sector, as well as the need for customers to remain vigilant and report any suspicious activities to the relevant authorities.
