LAGOS POLICE COMMAND have arrested four suspects in connection with transferring £138,924 (N277,848,000) from bank accounts belonging to international airlines domiciled in a Nigerian bank.
The arrested suspects named Shuaib Oluwatobiloba Olaleye (27), Oladunjoye Adegoke (33), Austin Alfred (38), and Jude Uzobuaku (36), were apprehended in different locations across Lagos and Ogun states.
Two suspects, Alfred and Uzobuaku are bank staff who aided the robbery of funds.
Police Spokesman, Benjamin Hundeyin, confirmed the fraud in a statement, stating that a petition from a former bank staff member, who alleged that Olaleye moved the stolen funds into her domiciliary account before withdrawing the money.
The bank, upon detecting the unauthorised transactions, launched an internal probe, which eventually led to the police investigation.
Olaleye was arrested on March 12, in Ogun State, where law enforcement officers also recovered a Toyota Camry 2012/2013, which he allegedly purchased with the proceeds of the crime.\
ALSO READ: N1.9 Billion Fraud: EFCC Arraigns Ex-Works Ministry Director, Surveyor
“The petitioner, who was a staff with the bank, alleged in her petition that the suspect fraudulently stole 138,924 pounds equal to N277,848,000 from the bank and transferred the same into her domiciliary account, from which he later collected all the money and now the bank is after all his associates, including herself, hence this petition.
“Upon the receipt of the petition, the complainant was invited and she narrated how the incident happened. The suspect, who has been evading arrest for long, was arrested on 12/03/2025 at about 1300 hrs in part of Ogun State, and the above-named exhibit, which he claimed as proceeds of the crime, was recovered from him.
“The suspect confessed to the crime and made further claims that himself and two other suspects who are staff of the bank connived and carried out the crime,” the report read.
Adegoke was apprehended the following day, March 13, in Victoria Island, Lagos, with another Toyota Camry (pencil light) linked to the stolen funds.
Further investigations led to the arrest of Alfred and Uzobuaku, who worked in the bank’s Trade Services Department as a Supervisor and Processor, respectively.
The police say the duo facilitated the fraudulent transfer of funds to foreign accounts provided by Olaleye.
“They are both staff of the bank. They helped the main suspect in facilitating the transfer of the stolen funds from the domiciliary accounts of some foreign airlines to some foreign accounts provided by the main suspect.
“Suspects have made useful statements and are undergoing interrogation. An investigation is still ongoing,” the report stated.
