Nigeria: Bank Manager Arrested for Allegedly Stealing N650m from Customers

Nigeria: Bank Manager Arrested for Allegedly Stealing N650m from Customers

By Zuleihat Owuiye, Mamos Nigeria

In a recent development, the Osun State Police Command announced the arrest of Mr. Adeniyi Talabi, a manager in one of the branches of a first-generation bank in Osogbo. The arrest was made in connection with the alleged theft of a sum of N650m belonging to 35 customers of the bank.

According to the statement released by the police spokesperson, Yemisi Opalola, the suspect is said to have committed the fraud by obtaining the money from the victims under false pretenses and carrying out the illegal transaction through a scheme called proof of funds. The bank has taken action by suspending the suspect pending further investigation.

Opalola assured the public that the investigation is progressing smoothly, and upon its completion, Talabi and his accomplices will be charged in court. The Commissioner of Police, Mr. Mohammed Umar, reiterated the command’s commitment to rid the state of criminal elements and warned potential perpetrators that Osun would not provide a safe haven for their activities.

This incident highlights the importance of trust and security within the banking sector. Customers should be able to have confidence in the integrity of the financial institutions they entrust their money to. The arrest of the bank manager sends a strong message that acts of fraud will not be tolerated, and those responsible will be held accountable for their actions.

It is crucial for banks to have robust internal control measures in place to prevent such incidents from occurring in the future. Additionally, the authorities should continue to work diligently to ensure the safety and protection of the public’s financial interests.

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