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Sekibo, Heritage Bank MD in Trouble over Alleged N605m Fraud

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Economic and Financial Crimes Commission has charged Ifiesimama Sekibo, managing director of Heritage Bank before the Federal High Court in Lagos for an alleged fraud of N605,321,051.05.

 

Joined with Sekibo in the charge sheet marked FHC/C/95C/18 is one Kolapo Kola Daisi and company, Greame Properties Limited.

Ifiesimama Sekibo

The EFCC, in the first count, alleged that Sekibo, on July 29, 2016, “while being a bank employee, to wit:  Managing Director of Heritage Bank, acquired the sum of N180m beyond your legitimate income through Greame Properties Limited, a company owned by you.”

 

Ekene Iheanacho, EFCC prosecutor, who signed the charge sheet, said the bank chief violated Section 7(1) of the Bank Employees, Etc (Declaration of Assets) Act, Cap B1, Laws of the Federation of Nigeria 2004 and he is liable to be punished under Section 7(2) of the same Act.

 

In the second count, the anti-graft agency alleged that Sekibo and Greame Properties Limited “did retain in the Diamond Bank Plc account number 0006129214 operated by Greame Properties Limited the sum of N180m received from the account of Vlamings Professionals Limited when you reasonably ought to know that the said money was direct proceeds of your unlawful activity, to wit: conspiracy and fraud.”

According to Iheanacho, Sekibo and Greame Properties Limited acted contrary to Section 15(2)(d) of the Money Laundering Act 2011 (as amended by Act No. 1 of 2012) and are liable to punishment under Section 15(3) of the same Act.

 

In the third count, the EFCC alleged that Sekibo “acquired N125, 321, 051.05 beyond your legitimate income through the Diamond Bank Plc account of FIFC Development and Management Limited operated by you.”

 

In count four, the EFCC alleged that Sekibo conspired with Daisi “to transfer the sum of N300m proceeds of unlawful activity,” into the account of Hiltrans Global Investment Limited “when you reasonably ought to know that the said fund was fraudulently withdrawn from the account of Heritage Bank Company Limited in Access Bank Plc.”

 

The court has yet to fix a date for arraignment.

 

 

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E-Financial

Bankers, Criminals Collaborate to Clone ATM Cards- Police

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Dan Okoro, commissioner of Police, Anti-Fraud Unit, Federal Criminal Investigation Intelligence Department (FCIID) Ikoyi- Lagos, has raised alarm over many cloned certificates and ATM cards in circulation.

 

Okoro raised the alarm while briefing journalists in Lagos on the discovery of some cloned certificates by a syndicate, which specialised in printing fake documents of banks, government and corporate organisations.

 

He said that the syndicate had been using the cloned documents to defraud banks, government, corporate organisations and individuals, stressing that some bank officials were collaborating with the suspects for the crime.

 

Among documents cloned by the syndicate included CBN, presidential clearance certificates, IMF and court documents.

 

“I advise members of the public against cloned certificates, ATM card and other important documents currently in circulation. I want members of the public to keep their pin numbers, passwords and ATM safe.

 

“We have some documents recovered from one suspect arrested. We are investigating the documents and some bank staffers allegedly collaborating the syndicate.

 

“It is only the bankers that have details of every deposit in the bank. Our investigation revealed that some bankers give information to the syndicate on how much customers have in every account.

“The syndicate cloned documents and transferred such money to another account, particularly, accounts with ATM cards are their easiest target.

 

“Many crimes are going on in different banks, unfortunately, the bank management will not allow the public to know about it because they want to keep their customers trust,” he said.

 

Okoro said the unit was able to detect some of the documents through the assistance of a foreign cyber security firm based in Lagos using forensic analysis equipment to unravel the identities of the syndicate members.

 

He noted that cyber crime was a global challenge, stressing that the unit was synergising with the foreign firm for capacity building for officers and men in the unit.

 

The commissioner said the suspect arrested was currently in the hospital after he collapsed during search of his house and many incriminating materials, including hard drugs were discovered.

 

“The suspect is a web site designer. He designed many of the cloned documents. We are on the trail of other members of the syndicate,” Mr Okoro said.

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E-Financial

NSE Wins Best Use of Technology for Efficiency Award

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The Nigerian Stock Exchange (NSE) has announced that it received the 2018 Best Use of Technology for Efficiency Award from Nigeria Tech Innovation & Telecom Awards 2018 (NTITA).

The NTITA is the most celebrated industry awards for the Technology and Telecom industries attracting top decision makers in the sectors. The annual event is held to showcase excellence and celebrate the continued growth of Nigeria’s Information, Communication and Technology industry with a focus on the exceptional and innovative performance within the industry.

The award was presented by Mr Olusola Teniola, President, Association of Telecommunications Companies of Nigeria (ATCON) to the Chief Executive Officer of The Exchange, represented by Mr Olumide Orojimi, Head, Corporate Communications, NSE at ​NTITA  Award ceremony.

According to Mr Akin Naphtal, Chairman, Organising Committee of the awards ceremony, stated that the award is in recognition of NSE’s outstanding service, innovation and tireless efforts in the industry.

“We are proud to promote success stories, technology advancement and disruption in one of the most dynamic business sectors in Nigeria. Not only do we look at businesses, but also those who have made a genuine impact on the market from within these companies”.

Commenting on the award, Mr Bola Adeeko, Head, Shared Services Division, NSE, stated that, “we are very honoured to receive this award.

This achievement is a testament to the efficiency of our service offering which is underpinned by cutting edge technology. This award will spur us to continue to provide investors and businesses with a reliable, efficient and adaptable exchange hub in Africa, to save and to access capital”.

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Senate Orders Suspension of ATM Fee, Summons Emefiele

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Central Bank of Nigeria (CBN) has been told to direct all Deposit Money Banks (DMBs) operating in the country to suspend the monthly N50 they charge their customers for the maintenance of Automated Teller Machine (ATM) cards.

 

This was the resolution of the Senate on Wednesday after a lawmaker in the red chamber moved a motion on the illicit and excessive bank charges on customers’ accounts.

 

The Senate also directed its Committee on Banking Insurance and other Financial Institutions and Finance to conduct an investigation into the propriety of Automated Teller Machine card maintenance charges in comparison with international best practices.

The Senate decision was sequel to a motion sponsored by Senator Gbenga Ashafa, who expressed dissatisfaction with excessive charges by Nigerian Banks.

 

Ashafa lamented that most banks have deliberately manipulated their ATM machines not to dispense more than N10,000 per withdrawal in some cases and in most cases not more than N20,000 per withdrawal, adding this is deliberate ploy to manipulate the ATM machine.

 

According to him: “ost banks deliberately manipulated their ATM machines not to dispense more than N10,000 per withdrawal in some cases and in most cases not more than N20,000 per withdrawal at the ATM.

 

“This is a deliberate ploy to manipulate the ATM machine, which are ordinarily manufactured to dispense as much as N40,000 per transaction, in order to attract more bank charges from customers, who are forced to carry out more transactions due to the manipulated machines.”

 

Other Senator who spoke like Emmanuel Bwacha and Adeola Olamilekan kicked against excessive charges by Nigerian banks on Customers account with particular focus on the ATM.

 

The Senate also Mandated the committee on Banking to invite the Governor of Central Bank of Nigeria, Godwin Emefiele to appear before the committee in order to explain why the official charges as approved by the CBN are skewed in favour of banking institutions against ordinary customers to the banks.

 

In addition, the lawmakers Urged the Customer Protection Council to be up and doing in taking up the plight of ordinary Nigerians by looking into the various complaints of excess and unnecessary charges by Nigerian Banks.

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