Police Arrest Banker For Stealing Customer’s N50 million

The Police Special Fraud Unit, SFU, has arrested one
Adeola Olokojobi, an Account Officer with GTHOMES,
a Central Bank of Nigeria licensed mortgage
institution, for allegedly stealing N50 million from a
customer's account.
In a statement on Thursday in Lagos, the police said
that a petitioner, who is a customer to the bank, had
accused Mr. Olokojobi, his account officer, of not
being forthcoming with his account balances.
The petitioner also alleged that the balance given to
him by Mr. Olokojobi, 31, was at variance with his
actual balance in the account.
"The bank internal investigation into the account
showed a forged instruction by the account officer in
April 2013 transferring the sum of N15 million to an
unknown customer account," the police said.
"Also, the bank discovered other various fraudulent
withdrawals made by the account officer from other
customers' accounts in his care through fake transfer
instructions amounting to over N50 million," the
police added.
The suspect, who joined the bank in 2009 as an
account officer, confessed to fraudulent withdrawals
amounting to N50,640,748 from the account of the
petitioner by transferring funds into the accounts of
customers with forged signature and then
withdrawing the money, the police said.
"The funds were used to finance his political
campaign, proposed pure water company, and
purchase of an uncompleted building at Sango-Ota,
Ogun State," the police added.