Economic and Financial Crime Commission, EFCC, operatives have apprehended a banker, identified as Kamaluddeen Lawal, and three businessmen in Kano State.
According to the Commission, the trio were arrested over their fraudulent engagement in recycling and manipulating the specific amount of cash deposited in the bank for savings.
EFCC gave the names of the three alleged accomplices as Ismail Ibrahim Ilu, Lamido Bala and Abba Mohammed.
This was contained in a statement by the EFCC spokesperson, Dele Oyewale, on Tuesday night.
He disclosed that the suspects were nabbed at Unity Road, Kantin Kwari Market, Kano. The Commission acted on a tip-off on the activities of some individuals, suspected to be trafficking huge sums of money in cash.
According to the statement, the suspects specialized in sourcing mutilated Naira notes from different banks. They remove a few notes from each bundle and deposit them in their bank accounts. They do this with a particular bank where their banker accomplice would receive the money as the original amount.
EFCC revealed that, “The suspects were perpetrating the fraud by going to their respective banks, requesting a certain denomination (in this case N200 notes) and carefully removing a few notes from each bundle. Thereafter, they would hand them over to their accomplice in the bank.
“The accomplice will collect the money and make entries as filled in the tellers without counting them. This is on the agreement that they would later give him his share of the money they removed,” Oyewale said.
He added that a total sum of N7.5m was recovered from the suspects as of the time of their arrest.
The EFCC spokesperson said as soon as investigations were completed, the anti-graft agency would charge the suspects in court.
source: PUNCH
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