BREAKING: EFCC Arrests Kogi Assembly Candidate with N326m, $610,500 Cash
- A prominent politician from Kogi state, Ismaila Atumeyi, has been arrested in Abuja in connection with a N1.4 billion bank hacking fraud
- Atumeyi, the NNPP candidate for Ankpa 11 Constituency in the Kogi State House of Assembly was arrested with N326 million and $140,500 cash by the EFCC
- The NNPP candidate was arrested alongside two others who allegedly helped him perfect the hacking plan
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FCT, Abuja - The Economic and Financial Crimes Commission (EFCC) has reportedly arrested the Kogi State House of Assembly candidate of the New Nigeria Peoples Party (NNPP), Ismaila Atumeyi, with N326 million and $140,500 cash.
Atumeyi who is seeking to represent Ankpa 11 Constituency in the Kogi State House of Assembly was arrested on Sunday, October 30, The Punch reported.
Source: Getty Images
Legit.ng gathers that Atumeyi was arrested alongside one Joshua Dominic, an alleged serial fraudster, in a sting operation at Macedonia Street, Queens Estate, Karsana, Gwarinpa, Abuja.
Also arrested in connection with the fraud is Abdumalik Femi, a former bank employee, who allegedly supplied the inside information that facilitated the attack on the bank by the syndicate.
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Why Atumeyi, others were arrested, EFCC spokesman reveals
Confirming the development, the EFCC spokesperson, Wilson Uwujaren, Femi was arrested on Tuesday, November 1, at the Radisson Blu Hotel in Lagos.
“Following his arrest, a search was conducted on his home in Morgan Estate, Ojodu where a total of $470,000 USD was recovered.
“The arrest of the suspects followed months of investigation into the hacking of one of the commercial banks by a syndicate of fraudsters who pulled off a heist of N1.4billion,” Uwujaren, was quoted as saying.
Alleged N1.4bn heist: How the suspects operated
The syndicate allegedly moved N887 million into the account of Fav Oil and Gas limited, from where the monies were paid to several Bureau de Change operators and some auto dealers for exchange into United States dollars and purchase of high-end cars.
Dominic, who has severally been arrested for fraud, allegedly helped Atumeyi perfect the hacking plan through Abdumalik.
Dominic, a self-styled investment expert and Managing Director of Brisk Capital Limited was arrested in May 2021 by the Special Fraud Unit of the Nigeria Police for an alleged N2 billion investment scam. He allegedly defrauded over 500 persons in a phony investment scheme.
Assets recovered from suspects
The EFCC reportedly recovered two Range Rover Luxury SUVs from the two suspects arrested in Abuja.
Uwujaren noted that the suspects would be charged to court as soon as the investigation was concluded.
Meanwhile, the commission has expressed concern about the rising spate of cyber-attacks on banks and the reluctance of the institutions to report such breaches to law enforcement.
While warning that such reticence would only embolden the criminals, the EFCC appeals to financial institutions to collaborate with it to secure the financial sector from threats of cyber-attacks.
Ismaila Atumeyi's arrest by EFCC: Nigerians react
Prince Ismail Muh'd commented on Facebook:
"These are the tyrants clamouring for political office. Nigeria is gone."
Arisiukwu Onyebuchi Solomon said:
"Redesigning of the Naira. Expect more of this."
Ada Nwangwu Ikpeoha said:
"This is a breakthrough....kudos to you EFCC."
Evidence Umoh Effiong said:
"Yes the reason. For the change of Notes."
Fraudsters hack Nigerian bank, transfer N523m to 225 accounts
Meanwhile, Legit.ng previously reported how suspected fraudsters hacked a customer’s account domiciled in an old-generation bank and fraudulently transferred N523,337,100 (N523.3 million) from the account to 18 different accounts in the same bank.
SP Eyitayo Johnson, the spokesperson for the Police Special Fraud Unit in Ikoyi, Lagos state, made this known in a statement on Wednesday, September 21.
He said the suspects, during a three-day cyber-attack, transferred the money from the 18 accounts into 225 other accounts domiciled in 22 other banks and financial institutions.
Source: Legit.ng
