Operatives of the Kano State Economic and Financial Crimes Commission have arrested a banker, alongside three other people for fraud.
According to reports, the banker, identified as Kamaluddeen Lawal, and his three accomplices, Ismail Ibrahim Ilu, Lamido Bala and Abba Mohammed were sais to have been recycling abd manipulating the specific amount of cash deposited in the bank for savings.
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According to a statement released by the spokesperson of the EFCC, Dele Oyewale, who confirmed the arrest in a statement late Tuesday night, said the trio were arrested on Unity road, Kantin Kwari Market, Kano, after getting intelligence of some people trafficking huge amounts of money.
They were said to specialize in sourcing for bad and mutilated naira notes, from different bank account, and then deposit them in their bank account, with a particular bank where their banker accomplice would receive the money as the original amount.
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“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 at the bank.
“The accomplice will collect the money and make entries as filled in the tellers without counting them on the agreement that they would later give him his share of the money they removed,” Oyewale said.
A total sum of N7.5 million was recovered from the suspects upon arrest.
