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4 bank staff arrested in ₦270m fraud, money laundering case
The Lagos State Police Command has arrested four bank employees over their alleged involvement in a sophisticated fraud and money laundering scheme that diverted over £138,924 (more than ₦270 million) from international airline accounts.
The command’s spokesperson, CSP Benjamin Hundeyin, disclosed the arrests on Monday during a press briefing at the state police headquarters in Ikeja.
According to CSP Hundeyin, “The suspects conspired to siphon funds from domiciliary accounts into personal accounts before redistributing them to multiple destinations.
“The fraud was uncovered when the affected bank detected unauthorized transactions and alerted the police.”
Explaining further, the spokesperson said: “Subsequent investigations led to the arrest of the following suspects: Oluwatobiloba Olaleye, male, aged 27, was arrested on March 12, 2025, in Ogun State. A Toyota Camry 2012/2013, suspected to be a proceed of the crime, was recovered from him.
Oladunjoye Adegoke, male, aged 33, was arrested on March 13, 2025, in Victoria Island, Lagos. A Toyota Camry (Pencil Light), suspected to be another proceed of the stolen funds, was also recovered.
Further investigation led to the arrest of Austin Alfred, male, aged 38, the Supervisor of the Trade Services Department, and Jude Uzobuaku, male, aged 36, a processor in the same department. Both facilitated the illegal transfer of funds to foreign accounts.”
Police investigations revealed that the stolen funds were initially funneled into an account belonging to one of the suspects before being transferred to multiple other accounts, making it harder to trace. Authorities are now working to track down additional accomplices and recover the remaining funds.
“The suspects are in custody and will face prosecution as the investigation continues,” CSP Hundeyin stated.
Meanwhile, the police have urged the public to report suspicious financial transactions, emphasizing their commitment to cracking down on economic crimes.
