Ismaila Yusuf Atumeyi, a New Nigeria Peoples Party (NNPP) lawmaker for the Kogi State House of Assembly, was detained by the Economic and Financial Crimes Commission (EFCC) with N326 million and $140,500 in cash.
In a sting operation on Sunday, October 30, 2022, at Macedonia Street, Queens Estate, Karsana, Gwarinpa, Abuja, Joshua Dominic, an alleged serial fraudster, and Atumeyi, who is running to represent Ankpa 11 Constituency in the Kogi State House of Assembly, were both apprehended, according to EFCC spokesperson Wilson Uwujaren.
Abdumalik Salau Femi, a former bank employee who allegedly provided the inside information that enabled the network to assault the bank, was also detained in connection with the fraud.
According to the EFCC statement, he was nabbed on Tuesday at the Radisson Blu Hotel in Lagos. After his arrest, his residence in Morgan Estate, Ojodu, was searched, and $470,000 in cash was found there.
Following months of inquiry into the hacking of one of the commercial banks by a group of thieves who made off with N1.4 billion, the suspects were apprehended.
The syndicate allegedly transferred N887 million into Fav Oil and Gas Limited’s account, from which the funds were dispersed to a number of Bureau de Change operators and a number of auto dealers for conversion to US dollars and the purchase of high-end vehicles.
Dominic, who has previously been detained for fraud, is said to have worked with Abdumalik to help Atumeyi develop his hacking strategy. The Special Fraud Unit of the Nigerian Police detained Dominic, a self-described investment expert and managing director of Brisk Capital Limited, in May 2021 for allegedly perpetrating a N2 billion investment fraud. He allegedly used a bogus investment scam to swindle over 500 people.
The two suspects detained in Abuja were also found to be in possession of two Range Rover Luxury SUVs. The EFCC stated that after the inquiry is over, they will be charged in court.
“Meanwhile, the Commission expresses concern about the rising spate of cyber-attacks on banks and the reluctance of the institutions to report such breaches to law enforcement,” the statement said.
“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.
“It will also be recalled that the EFCC had in the wake of the recent announcement by the Central Bank Nigeria, CBN of plans to redesign and re-issue higher denominations of the Naira, warned Bureau de Change operators to be wary of currency hoarders who would attempt to seize the opportunity to offload the currencies they had illegally stashed away.”