Exclusive: Ex-Bank Chief Held, another Declared Wanted over Theft of N3.3Billion …FMIU Finds Hidden Loot

Segun Atanda/

Detectives investigating a theft of N3.3billion at the defunct Hallmark Bank have traced N158million to the account of the erstwhile Head of Foreign Operation at the liquidated financial institution.

NewsmakersNG learnt that the suspect identified as Mr Chike Mokwunye has been arrested by officers from the Financial Malpractices Investigation Unit (FMIU) in Lagos headed by Deputy Commissioner of Police (DCP) Abutu Yaro.

The police formation is under the Special Fraud Unit (SFU) in Ikoyi, Lagos.

Officers have also uncovered three houses worth N700 million owned by Mokwunye in Lagos.

Police investigations revealed that the N3.3billion was stolen over a period of six years – 2000 to 2006, when Mokwunye served in various capacities as Personal Assistant to the Chief Executive Officer (CEO) and Chairman, Sir Marc Wabara; the Head, Risk Management/Internal Control and Strategic Planning, and Head of Foreign Operations till October 2006 when he left the bank shortly before its liquidation.

Investigators told NewsmakersNG that various bank cheque books have been recovered from the suspect.

Meanwhile, the former chief executive of the bank, Sir Marc Wabara, who is in the race for the Abia South Senatorial District seat on the platform of the All Progressives Congress (APC), has been declared wanted by the police in connection with the theft.

Following reported fraud and insider abuse that prevented the bank from meeting up with the recapitalisation requirements that ended on December 31, 2005, Ecobank had in 2007 acquired Hallmark Bank in liquidation through the Purchase and Assumption method introduced by the NDIC to dispose of assets and liabilities of liquidated banks.

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