Staff, Customer Swindle Globus Bank of N900M after N1.7B Theft

Segun Atanda/

After it was defrauded of N1.7 billion in 2022, Globus Bank has again suffered another loss of N900 million.

Just like it happened about two years ago when Globus Bank Ltd was defrauded to the tune of N1,755,376,156.34 during a glitch in its system, the bank was allegedly swindled again to the tune of N900million by one of its customers in collaboration with some of its staff.

In an affidavit sworn to by one Abigail Madukaife an employee of the law firm of Country Hill Attorneys, counsel to the bank, filed before a Lagos High Court by Barrister Michael Enyinnaya, stated under the caption of PARTICULARS OF FRAUD, that:

Haril-Global Solutions Ltd is an on-lending merchant of the Globus Bank engaged in the business of lending to its customers.

The dynamics of the bank’s on-lending business scheme is that an approved on-lending merchant is availed of an overdraft facility which is booked on a restricted account specifically dedicated to its lending business with the bank under the scheme.

For the on-lending merchant to have access to the funds on the restricted account, the merchants shall via the bank’s Corporate Internet Banking (CIB) platform send a request for approval of funds to be released to a customer already onboarded on the bank’s platform, whose account bears either a GLBSC or GBCCI product/scheme code.

It is only upon such request and confirmation by the bank of the customer’s account status (whether it is one with the GLBSC or GBCCI product/scheme code) that the bank can debit the on-lending merchant’s overdraft account and credit the customer’s account.

Sometime in November 2023, the bank during its routine review of transactions by its Internal Audit Department discovered fraud to the tune of around N900,000,000 perpetrated against the bank by the Haril-Global Solutions Ltd and its agents in collusion with the bank’s IT staff, one Mr George Benedict Igwe, and ex-staff, one Mr Chinedu Mba, who bypassed the restrictions for operating the company’s overdraft facility account, debited the account through the backend and fraudulently transferred funds to the company’s account number 3000002010 in the name of Haril – Global Solutions Ltd and subsequently to other beneficiaries.

Further investigations by the bank revealed that the fraud perpetrated on the bank by the company and its cohorts was around N900,000,000.00.

NewsmakersNG learnt that as soon as the bank became aware of the fraud, it complained at the office of the Assistant Inspector General of Police at Zone 2  Command Onikan, Lagos State, who immediately apprehended the bank staff, Mr George Benefit Igwe, who made a statement admitting to colluding with Haril-Global Solutions Ltd to defraud the Bank by giving the company access and control of his work station which enable the alter -ego of the company, Mr Idris Olayiwola, to debit the overdraft account and fraudulently transfer funds to the Company’s account number 3000002010-Haril-Global solution Ltd from where the funds were subsequently transferred to other beneficiaries including one Samuel Oyeleye Oyesiji.

One of the alleged beneficiaries of the fraud, Olowosile Oluwaseun, was apprehended by officers from the Zone 2 Command Headquarters, Onikan, Lagos State, wherein he admitted his receipt of the fraudulent transfer into his account.

Because the offence is a financial crime, the bank took further steps by submitting a petition to the EFCC in Lagos, where the matter is currently being investigated and several suspects have been invited, including the Haril-Global Solutions Ltd that is yet to honour the invitation.

According to the authorities, immediately after the bank became aware of the fraudulent transfers, it took immediate steps to mitigate the fraud and dissipation of the funds already transferred to the listed accounts.

The salvaged sums are still in the custody of Haril-Global Solutions Ltd, and some commercial banks and an order of the Court is needed to reverse the said sums.

The deponent contended that the funds transferred by the company into the account of the beneficiaries, as listed before the court, amount to fraudulent proceeds.

Consequently, Globus Bank is urging the court to direct the receiving banks to place a post-no debt on the accounts of the beneficiaries and reverse the money in such beneficiaries’ accounts.

In addition, the court should direct that any beneficiary of the fraud should be arrested and handed over to a law enforcement agency.

A counter affidavit by a legal practitioner, Mr Zac Otemuyiwa, on behalf of Haril-Global Solutions Ltd. says that almost all the contents of the affidavit of Abigatl Madukaife are false, that the company did not in collusion with some of the ex-staff of the bank fraudulently bypass the restriction placed on its account number 1000085336.

Otemuyiwa argued that the company did not in collusion with some of the bank’s staff and ex-staff move out N900,000,000 or any other sum from his overdraft facility account into its collection account number 3000002010.

He stated: “The company did not move and cannot move any funds to several beneficiaries whose accounts are domiciled with the bank.

“The statement under particulars of fraud is false to the extent that the company is a business partner and customer of the bank and was never referred to in any clause of the letter of offer from the bank dated 4th day of July 2023 as an on-lending merchant of the Bank.

“The letter of offer given by the bank dated 4th July 2023 to the company for an overdraft of N8 billion the purpose of the facility was clearly stated, which is to augment the company working capital requirements.

“The company utilized the funds borrowed for various business ventures such as property trading, lending to business associates and purchase of company shares.

“Following the various business enterprises that the company was involved in, it utilised the overdraft facility and made interest payments to the bank in the sum of N705,825,521.95 from January 2023 to January 2024.

“The company denies that the sum of N900,000,000 or any sum at all was fraudulently transferred into or credited into its collection account number 3000002010. The company has been denied access to this account since November 2023 by the bank. The company have made several unsuccessful attempts to print its statement of account due to the restriction placed on the account by the bank.”

Contrary to the deposition of Abigail Madukaife Igwe George Benedict, a staff of the bank, at Zone II Police headquarters stated that he carried out the fraud complained of by the bank on 14th November 2023 with the ex-staff of the bank.

He stated: “Mr Igwe George Benedict, staff of the bank, compromised his position which led to the bank debiting N900million with Olayiwola Idris and Chinedu Mba who were former staff of the bank.

“The whole transaction was an internal affair of the bank. The company was not mentioned by the bank’s staff, its directors, Shareholders or any of its staff in his statement.

“The statement of Abigail Madukaife is false, that Mr Idris Olayiwola is the alter-ego of the company, Mr Idris Olayiwola is not a director of the company, and he is not a shareholder of the company, therefore cannot be the alter-ego of the company,

“The statement of Abigail Madukaife in paragraph 4(g) is false as it relates to the company. The said Olowosile Oluwaseun in his statement at Zone II Police Station did not mention the company in any way. The said Olowosile Oluwaseun is not a customer of the company in any of its business activities.

“The EFCC’s Abuja office sent a letter dated 5th January 2024, by Courier Service inviting the company for certain clarifications on the 18th of January 2024.

“The Legal Representative of the company on its behalf was at the EFCC office in Abuja to give the officers the true state of affairs between the bank and the company. Based on the submissions of the company’s legal representative, the EFCC agreed to review the matter and get back to the company.

“Contrary to the statement made in the bank’s affidavit in support of its application the funds in the custody of the banks listed before the court and the company belonging to the company are not proceeds of fraud. The funds mentioned in the account of Samuel Oyeleye Oyesiji were payments made by the company in the first quarter of the year 2023 and not November 2023 when the bank alleged that the fraud took place.

“This is also the position of the other accounts listed by the bank, most of the transfers into these accounts were made long before November 2023.

“The company did not perpetrate any fraud either alone or in collusion with any other person against the bank or any other person.

“Consequently, the Court should vacate the restriction order on the company’s account and the other accounts of its directors, as the bank’s application is frivolous and meant to disparage and or damage the reputation and goodwill of the company.

“The company is urging the court to vacate the Place No Debit (PND) order placed on the company’s account with the bank and other Respondents as the Place No Debit Order was fraudulently procured from the court by the bank that suppressed material facts from the Court.

“The Court should dismiss with costs the prayer of the bank as it is based on total falsehood.”

Sometime last year Globus Bank filed a similar application before the court seeking an order for recovery of a total sum of N962,019,843.35 fraudulently transferred electronically from its vault into accounts domiciled in eight commercial banks.

The N962,019,843,.35 was part of the total sum of N1,755,376,156.34 transferred from the bank between Monday 6th and Saturday 11th of June 2022. The bank has already recovered the sum of N817,998,969.85 from the accounts of the fraudsters.

In an affidavit sworn to by the legal officer of the bank then, Kosisochukwu Ngene, Globus Bank said fraudsters took advantage of a system glitch in its USSD application between Monday 6th and Saturday 11th of June 2022 to process several fraudulent and unauthorized electronic transfers totalling N1,755,376,156.34. The bank said 709 people who were its customers were involved in the fraudulent transfer of the funds to accounts domiciled in eight commercial banks.

0